With its high prices, Zurich is among the most affluent properties in Europe, with a property market that rivals those in Paris and London. Companies like Google have been employing in Switzerland's financial centre, and apartments in the city are now at a premium of €18,000 per square meter, more than the cost of a London flat. In August, prices outside the city rose close to 6% year over year, the largest rise in 16 months, and are roughly the same as Paris prices.
The Chinese city of Guangzhou has relaxed rules on home ownership, allowing residents to buy more than one property in four additional areas. It's the first of the nation's tier-one cities to ease policy on home buying, and experts predict others, such as Shenzhen, Shanghai and Beijing, to do the same in an effort to spur home sales in the sluggish market. After only two years, non-local residents are allowed to buy a home in the core districts of Guangzhou, compared to five. Until now, local residents were allowed to buy a maximum of two homes in just two districts, while non-locals could only buy one property.
The coastal Australian city of Jan Juc, located 65 miles northwest of Melbourne, could set a price record for a home on the waterfront. If the property achieves the highest level of its guide price, its asking range would be A$7.9 million to A$8.3 million, the current record of A$8.15 million. The five-bedroom residence overlooks the ocean toward Point Lonsdale and is surrounded by 2.7 acres of gardens, part of Open Gardens Victoria, a nonprofit that opens private gardens to the public. There is also a stone labyrinth, a swimming pool, spa and a basketball court.
When stamp duty relief ends in 2025, it adds more than $2,000 to the average tax bill.
The temporary tax break on U.K. stamp duty will end in March 2025, giving buyers about 18 months to seal a deal that could save them up to $2,500 in transfer taxes. The price threshold exempted from stamp duty increased to £250,000 last fall, meaning buyers only owed tax on the amount above that figure. The threshold, however, is typically £125,000 and will return to that number at the end of the temporary increase. The tax bill on an average-priced home in England will increase from £2,822 to £5,322 in 2016 based on a report from the Coventry Building Society.