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Banking and Finance Trends of 2022

ABC Staff
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Banking and Finance Trends of 2022

Sparkasse Bank Malta plc was established in 2000 and offers banking and investment services to fund managers in Malta and the EU. The Bank prides itself on delivering value to customers with quality offerings through a dedicated team of professional experts. The Bank’s biggest differentiator from its competitors in Malta is that it offers Banking and Investment Services under one roof specialising in custody and depositary services, making it a one-stop shop for fund managers.

As we enter a new year, Sparkasse Bank Malta plc is preparing by analysing industry trends and trajectories to determine ways to better serve its customers. Informed by its years of experience in highly specialised areas, the bank has identified two areas for modern-day financial institutions to pay attention.

1. Bringing Personalisation Back to BankingThere’s no denying that customers appreciate the convenience and ease of digital banking solutions. There are certainly benefits to accessing your financial information anytime, anywhere. However, the digitisation may have reached a boiling point that has consumers craving more personalisation and humanization.

This doesn’t just mean an excellent in-person experience, but it also means more personalisation in every area of the customer journey. Being a bank focused on professional and discerning customers, the Bank’s highly trained team understands the uniqueness of every customer and how to deal with these intricacies in a proper and professional manner offering value, service and timely execution. Through this promptness, trust is earned and the overall banking experience becomes all the more efficient and effective.  Team members have experience handling common problems that may arise for different types of Customers. By specialising in a specific niche, banks can become more than a bank: They can become a valued adviser.

Managing Director Paul Mifsud is a proponent of this strategy and has influenced the trajectory of the Bank. He notes, “We’re focusing on what we’ve been doing and what we know how to do well, without having those distractions of trying to create something else that could take our eye off the ball and away from our main priority, which is our customers.”

2. Focus on Community
In 2022, communities will be doubling down on rebuilding their efforts as the world continues recovering from the initial shock of the ongoing pandemic. Financial institutions have the opportunity to be there for businesses and individuals as they recover. Experts predict that we will see smaller financial institutions, in particular, making an effort to provide services and advice to those who are still struggling.

Financial institutions like Sparkasse Bank Malta plc that have a rich history in specific regions are uniquely positioned to focus on community and fuel growth. They understand the local economy and the challenges faced by its customers. But community doesn’t just refer to the people who live around you — it can also refer to other communities a financial institution specialises in serving, like fund managers , corporate customers or startups. Finding a way to serve a community you care about will be an important differentiator in 2022.

“We have always been focused on Malta and finding ways to provide a service that was lacking for fund managers on the island,” shares Paul Mifsud. “We wanted to be more than just somewhere to process money. We wanted to be trusted a service provider within the investment services and custodian markets. We’ve achieved that and helped the economy in Malta thrive by doing so.”

According to Paul, the most critical takeaway for success in 2022 for those in the financial industry is to keep the people you serve at the heart of your mission. Rather than worrying about what competitors or the largest financial institutions are pursuing, focus on your customer’s needs. Sparkasse Bank Malta plc values feedback from clientele, and this is how it has remained ahead of the competition without becoming distracted by it.

About Sparkasse Bank Malta plc

Sparkasse Bank Malta plc is authorised by the Maltese Financial Services Authority as a credit institution and investment services provider and provides banking, investment, depositary, and fund custody services. The Bank offers securities services, including depository services, custody services, custody and clearing services, and trading desk services. Its solutions include both domestic and cross-border services including trading, clearing and settlement services, cash management, and general banking services. It is uniquely prepared to serve international clientele with multi currency accounts.

The Bank holds multiple licences that allow it to fully service its Customers. It acts not only as a credit institution but also as an investment services firm for both individuals and corporations. Most notably, the Bank also offers custody and depository services to fund customers. These are not services typically offered by most financial institutions. Of these licences, three are issued by the Malta Financial services authority, and one is issued by the Central Bank of Ireland. Most recently, the Bank was authorised by the MFSA to start acting as a Custodian to Retirement Schemes.  Sparkasse Bank Malta also expanded to Dublin in 2018, a move that was part luck and part strategic genius. According to Paul Mifsud, “Ireland was a natural choice for the Bank due to its membership in the EU and its English-speaking environment. The Bank had already established relationships and contacts with several service providers in Ireland, which made the move and the decision all the more feasible.” Dublin has since become an attractive choice for many financial institutions because of the English language, access to the EU, and private fund-friendly rules. This move is just one in a long list of smart decisions Sparkasse Bank Malta plc has made ahead of its time to differentiate itself and remain insulated from competitors.

How to reduce Your Energy bill?

ABC Staff
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How to reduce Your Energy bill?

There are two reasons why you should think about renovating your house, when it comes to energy. The first one is to save on the costs of heating and the second is to help save the planet, by reducing energy consumption. Both are important in today’s world and beneficial to one and all. Here is what you can do to reduce your energy bill, while helping to save the environment.

Do a Survey of the House

That is the first thing anyone should do before entering into major renovations. Otherwise, you could simply be missing the point at the end of the day, which would mean that you have spent a lot of money for nothing, since the issue causing you to spend money on heating won’t be solved. There are many parts in a house that can be letting in cold air during winter, or letting it out during the warm months. Without a survey done, it is impossible to be certain where they are located on yours. Below, you will find the most common culprits.

Change the Windows and Doors

That is usually one of the biggest problems on any house with a few years on them. Air tend to come from around the edges. Since they are many on a house, if they all have this issue, the loss of energy can be massive. You need to look into aluminium doors and windows, when you decide to make the change. That is because they are long-lasting and easy to take care of. Aluminium is the most ecological material that can be used on a house today, since it is recyclable forever. Check out the various models available at aluprof.eu/gb.

But aluminium doors and windows have many other benefits. Since it is light and strong, you don’t need to have large frames anymore. That means more glass panes, which will let in a larger quantity of sun rays into the house. The quality of the glass is important when it comes to energy, as well as quantity. Nowadays, more people use windows that incorporate two, three or more glass sheets on one window. It is the best guarantee that there won’t be any energy loss.

Check the Attic

If your house has an attic, you will probably start looking into this part first. Heat goes up, and if it finds space to go out, it does. That leaves you to heat or refresh the house permanently, which raises the heating bill greatly. You will need to insulate your attic. To do so, there are different kinds of insulation material available. They can be categorized by prices, ease of installation, and most importantly through their efficiency.

Batting insulation comes in three grades: low, medium and high density. The higher it is, the lesser you need to do the work. It comes in rolls, and so it is easy to put in place. They are either made of mineral wool or fiberglass. Do not touch these materials without putting gloves on, first. As for loose fill insulation, they come in bags and they are meant to go into odd corners and strange angles, where batting insulation can not go.

Insulate the Basement

You should never leave a basement unfinished, at least to a minimum. If you need to start over, don’t hesitate to do it. Here is how. Take a polystyrene insulation panel on which you applied a foam board adhesive on the back, then press it to the wall. Do that all around the basement. On top of the polystyrene, you will place a wood grid, which will act as holder for the drywall. It needs to be a moisture-resistant green board. And don’t forget to create vertical and horizontal gaps, that will be used for electrical fixtures, later on. Once the boards are in place, your basement will be fully insulated.

Insulate Under the Floors

That is one of the things that we forget too often. It is not only a heating problem, but it can also become a health issue. Walking on cold floors, even with shoes, can cause you to catch a cold. So, here are the steps you need to take, to solve that problem, once and for all. Using a utility knife, cut an insulation sheet in the length that you need to cover. Normally, you will need to place a few of them, side-by-side. These insulations sheets have one side that possesses a vapor barrier. It needs to be place upward, where the living area is located, when used in the basement. On any other floors, use a sheet that does not have a vapor barrier. You can’t force the sheet into a small location, as it will need to expand with time. To keep it in place, use support wires, cut to the length you need.

Act Now

You may be afraid of the costs involved in renovating your house, but you should definitely act now. The truth is, in the end, you will end-up recuperating this money in a short time, and then save some. Look to be up-to-date in terms of today’s standards. You and your family will be happy that you made this decision, living much more comfortably then before.

M Patrick Carroll’s CARROLL Expands Portfolio Via Florida and Colorado Acquisitions

ABC Staff
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M Patrick Carroll’s CARROLL Expands Portfolio Via Florida and Colorado Acquisitions

As the United States’ multifamily housing market continues its steady growth, Atlanta-based CARROLL announced two more strategic property acquisitions. Led by founder and CEO M Patrick Carroll, the leading real estate investment and management firm completed the purchase of suburban Fort Lauderdale and Denver multifamily communities.

Executed in November 2021, the acquisitions added 580 units to CARROLL’s nationwide multifamily housing portfolio. In addition, the Firm continues to expand its multifamily property management capabilities.

Spotlight on CARROLL’s Timely Acquisitions

After extended nationwide market analysis, CARROLL identified two metropolitan-area multifamily communities that presented good investment potential. Both garden-style developments offer easy access to premier employment hubs along with desirable retail and/or entertainment venues.

CARROLL’s institutional fund vehicle, Carroll Multifamily Venture VI, LP, funded the $140+ million purchase. This transaction brings the Company’s cumulative transaction volume to $16 billion.

The Firm’s Construction Management Team will renovate both properties’ interiors and common areas. When completed, the assets will carry CARROLL’s upscale ARIUM brand, a proven market leader that continues to drive resident satisfaction.

ARIUM Coconut Creek

Located in suburban Fort Lauderdale, CARROLL’s ARIUM Coconut Creek property (formerly Aqua Villa) contains 280 units. The purchase expands CARROLL’s Florida portfolio to over 9,000 units.

ARIUM Coconut Creek residents have easy access to south Florida employment hubs from Fort Lauderdale to the Boca Raton area. In addition, Broward County’s upscale retail and entertainment venues are within easy reach.

CARROLL’s South Florida investments take place in a business-friendly economic climate. With no state income tax, and growth-oriented government policies, companies from across the United States are contributing to the region’s impressive population and business growth.

ARIUM West 84th

The suburban ARIUM West 84th community (formerly Lodge on 84th) contains 300 units. Residents of this Federal Heights development can use two convenient highways to access major employment hubs. Entertainment venues are also within easy driving distance.

The suburban Denver market continues to show impressive occupancy figures and corresponding rent growth. In addition, this expanding sector has demonstrated strong resiliency during COVID-19 pandemic challenges.

The ARIUM West 84th community is CARROLL’s second active Denver-area acquisition. In August 2021, the Firm acquired two Las Vegas communities, substantially increasing its West Coast presence. CARROLL continues to evaluate investment opportunities in this rapidly growing region.

M Patrick Carroll Comments on Acquisitions

CARROLL’s Founder and CEO, M Patrick Carroll, states that both multifamily communities meet the Company’s stringent investment criteria. “While located in different parts of the country, both assets were attractive to CARROLL due to their demand fundamentals and proven value-add upside.

“Additionally, both communities are located in areas that are experiencing tremendous population growth coupled with high barriers to entry and very limited new construction,” he explains.

CARROLL Caps an Impressive 2021

Throughout 2021, M Patrick Carroll has orchestrated CARROLL’s execution of 48 strategic transactions. The Firm completed 18 acquisitions while executing 30 dispositions, all in accordance with CARROLL’s investment goals. Collectively, the 2021 transactions have totaled $4.1 billion. A summary of several significant 2021 transactions appears below.

Q3: Multifamily Community Purchase and Third-party Property Management Agreement

In 2021 Q3, CARROLL expanded its Florida presence with the acquisition of a recently built Santa Rosa Beach, Florida multifamily community. In addition, the Firm bolstered its property management services commitments by adding three Louisville, Kentucky multifamily communities. Within the past year, CARROLL has executed eight third-party property management agreements.

Q3: CARROLL Enters the Expanding Las Vegas Market

During 2021 Q3, CARROLL entered into a real estate investment partnership with GFH Financial Group. This Bahrain-based firm bought two well-located Las Vegas multifamily communities for $200 million total. CARROLL’s entry into this premier secondary market is in concert with its long-term investment strategy.

Q2: Disposition of Two Upscale Atlanta Multifamily Communities

In 2021 Q2, CARROLL completed the disposition of two Atlanta-area apartment communities. The Firm realized a desirable return on its investment following the sale of its ARIUM Dunwoody and ARIUM Station 29 assets. The transaction demonstrates CARROLL’s continued leadership in the Southeastern United States commercial real estate market.

Q2: M Patrick Carroll Presents at BisNow South Florida Deal Flow and Investment Strategies Summit

In July 2021, CARROLL Founder and CEO M Patrick Carroll presented strategic remarks at the BisNow South Florida Deal Flow and Investment Strategies Summit. He provided useful insights on the market’s growth along with predictions on upcoming trends. Carroll has proven expertise in the rapidly growing South Florida real estate investment arena.

About M Patrick Carroll

M Patrick Carroll, Founder and CEO of the Atlanta-based CARROLL real estate investment firm, is the epitome of self-made success. During his early 20s, Carroll hatched his dream of a successful real estate investment career while working as an Atlanta-based clothing representative.

With his well-known boundless ambition, M Patrick Carroll utilized his business connections to lay the groundwork for his real estate investment venture. In 2004, he made the leap, leaving his full-time job and launching the CARROLL organization into the highly competitive Atlanta real estate market.

Building a Commercial Real Estate Career

Carroll’s initial investments focused on targeted Georgia and Florida properties. Over time, he completed several residential development projects and began to carve out a presence in the commercial real estate market. His continued success, often under challenging economic conditions, enabled him to undertake larger-scale projects with potentially better returns.

Today, M Patrick Carroll is an acknowledged expert in the multifamily housing investment arena. Although initially focused on the Southeastern United States, he has recently expanded CARROLL’s operations to the country’s western region.

Before making each investment, Carroll conducts exceptional due diligence with assistance from his skilled market analysis team. Then, he boldly steps into the opportunity, confident in his ability to bring it to a successful conclusion.

Propelling CARROLL into the Future

To facilitate CARROLL’s continued growth, M Patrick Carroll fosters an entrepreneurial culture that infuses every aspect of the Firm. His consistent dedication to excellence continues to attract superb talent from varied demographic groups.

As a hands-on leader, Carroll cultivates relationships with investment partners, institutional investors, brokers, and lenders. He also supports CARROLL’s on-site property management teams across the United States.

M Patrick Carroll’s Dedication to Philanthropy

Philanthropist M Patrick Carroll has always believed in the value of giving. His longtime health and wellness focus drives his donations to 50 global charities with health or early childhood development missions.

He also wants to show younger generations that it’s possible to achieve success through varied paths. First, he serves as an admirable role model for his three sons. In addition, M Patrick Carroll frequently speaks to younger audiences about prioritizing health and wellness while also working to achieve their dreams.

About CARROLL

The Atlanta-based CARROLL organization continues to be a key player in the commercial real estate arena. Established in 2004, this privately held real estate investment firm maintains a strong focus on multifamily housing communities. In addition to numerous acquisitions, CARROLL often executes strategic dispositions in accordance with its preset investment goals.

CARROLL is also expanding its property management, asset oversight, and fund management capabilities. To date, the Firm directs the operations of 27,000 multifamily units spread throughout nine states. CARROLL has also purchased the assets of other multifamily owner/operators across the United States.

CARROLL’s wide-ranging network has also enabled it to successfully develop single-family homes, student housing, and retail communities. During the past 10 years, the Firm has managed over $500 million in construction projects for its company-owned and fee partners’ properties.

To date, CARROLL has utilized CARROLL-based funds and joint ventures to raise over $3.3 billion of equity. These resources have facilitated the purchase, development, or sale of over $16 billion of real estate assets. To serve clients throughout the United States, the Firm maintains offices in Raleigh, Tampa, New York, Dallas-Fort Worth, and Denver.

CARROLL’s Distinctive Investment Strategy

M Patrick Carroll has found success by carving out his own path in a complex marketplace. He is known for his in-depth market expertise and superb due diligence. In addition, CARROLL maintains the logistical capabilities that enable the Firm to execute multifaceted transactions.

To source promising investments, CARROLL’s in-house market analysis team monitors target markets to identify underperforming or undervalued assets. Team members also pinpoint emerging market trends, knowing that top-tier investors will often act on these indicators.

When other investors flock to these enticing hot spots, CARROLL frequently discovers overlooked investment opportunities worth a second look. If a prospective investment meets CARROLL’s exacting standards, M Patrick Carroll gives the green light to pursue it.

A Data-driven Approach Proves Successful

M Patrick Carroll strongly believes that every economic and investment cycle produces viable opportunities. To identify them, and facilitate high-yield returns, CARROLL employs a technology-based approach.

CARROLL utilizes sophisticated analytical tools to interpret proprietary market data. The Firm also analyzes current and projected economic trends, and factors in its extensive market expertise, to formulate its investment strategy.

As 2021 winds down, CARROLL’s market analysts continue to investigate potential new investment targets. M Patrick Carroll and his team expect 2022 to bring new opportunities in the commercial real estate investment arena.

Benjamin Thompson Kirk: Halifax Reports Surging Property Prices in 2021

Claire James
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Benjamin Thompson Kirk: Halifax Reports Surging Property Prices in 2021

A second wave of demand for increased living space is predicted to continue driving up house prices across the United Kingdom, with property values expected to rise by up to 3.5% per annum between 2022 and 2024 according to a forecast by Hamptons.

The estate agent believes that summer 2021 marked ‘peak house price growth’, predicting that growth would slow towards the end of the year – culminating in the average UK house price rising by 4.5% over the last 12 months.

According to Forbes, the average cost of a UK property reached an all-time high of £272,992 in December 2021, with prices increasing by 8.2% between November 2020 and November 2021 on average. Wales topped the list in terms of annual house price inflation at a staggering 14.8%, with the cost of an average home exceeding £200,000.

Triggered by the pandemic, the ‘race for space’ was a major driver of stronger-than-expected house price growth throughout 2021, with buyers prioritizing homes with larger gardens and more room to accommodate working from home.

However, data from some commentators suggests that the partial end of the stamp duty holiday in the summer of 2021 did temper these property price increases somewhat. According to recent data published by the Office for National Statistics (ONS), in July 2021 UK house prices fell by £10,000 on average compared with the previous month, albeit with annual price growth still running at 8%. Many buyers scrambled to complete their purchase prior to expiry of the stamp duty holiday on the 30th June 2021, with ONS data showing that sales plummeted by almost two-thirds the following month.

In spite of this, statistics show that the UK property market continued to experience a boom despite the fact that the threshold at which stamp duty starts returned to its pre-COVID level of £125,000 in October 2021.

According to Halifax, one of the UK’s largest mortgage providers, property prices increased by 0.7% in August 2021 on average. However, rival lender Nationwide suggested that the monthly rise in August had been much higher, reporting an average increase of 2.1%, the second highest in 15 years.

As property market expert Benjamin Thompson Kirk will be well aware, the widespread transition to remote and flexible working practices, combined with other pandemic-induced changes, has spurred homeowners to seek out new homes in their droves.

The UK estate agent Hamptons is forecasting property price growth at 3.5% in 2022, 3% in 2023 and 2.5% in 2024, equating to a cumulative increase of 13.5% between the beginning of 2021 and the end of 2024. Hamptons also predicts that the north-east of England will see the biggest rises, with property prices increasing by 6.5% in 2021, hovering somewhere between 4% and 6% per annum between 2022 and 2022.

By contrast, the estate agency predicted that London would underperform compared with the rest of the country over the next two years, with rises of somewhere between 1% and 1.5% a year. Indeed, several surveys reveal that the rise of flexible working practices, combined with stretched affordability within London, have prompted many families to consider abandoning the capital.

Announced by the UK government in July 2020, the stamp duty holiday was implemented to stave off a feared collapse of the property market during the first COVID-19 lockdown. Until the 30th June 2021, the first £500,000 spent on property in England and Northern Ireland no longer attracted taxes, saving buyers up to £15,000.

This significant tax break was scaled back on the 1st July 2021, when the threshold at which buyers pay stamp duty on property purchases was lowered from £500,000 to £250,000. In October 2021, this threshold was lowered again, with the ‘nil rate band’ returning to £125,000, its usual rate.

Estate agent Knight Frank highlighted continued restrictions on overseas travel as a key driver in the boom in demand for second homes, providing families who live in London with somewhere to retreat to far from the bustle of the city. Knight Frank’s data suggested that second home purchases outside London increased by 83% between January and August 2021 compared with the five-year average.

Speaking with Forbes in December 2021, Russell Galley, Managing Director at Halifax, predicted that rising living costs throughout the UK could temper house price growth as we move through 2022, pointing out that house price to income ratios were already historically high.

He cautioned that household budgets were likely to come under increased pressure throughout the year ahead. Mr Galley also cited the emergence of the new Omicron virus variant as a potential factor, although he said it was far too early to speculate on the long-term impact.

Meanwhile, the world’s largest building society, Nationwide, recorded double-digit annual house price growth in November 2021, logging an astronomical 10% month-on-month rise. Although there may be signs of the market cooling, on the whole, property prices in the UK still far exceed what they did just a few short months ago.

Will bitcoins always have massive pressure on other digital coins?

ABC Staff
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Will bitcoins always have massive pressure on other digital coins?

Cryptocurrencies are a new concept across the globe due to widespread uncertainty. No one is completely clear about what cryptocurrencies are and how long they will stay in this world. Still, it has become one of the most popular and most talked-about phenomena in recent years. Some cryptocurrency and bitcoin proponents argue that cryptocurrencies are nothing like total trust currencies. These digital coins are available only on the Internet, and you can use them only on the trust list financial platforms. Therefore, no government or state is linked directly to cryptocurrencies, which is a matter of concern for different authorities. Therefore, preferring fiat currencies over cryptocurrencies is a better option, in the words of bitcoin proponents.

If you pay close attention to the cryptocurrency market, you will find that the other cryptocurrencies follow whenever the prices of bitcoin fall. When the prices of bitcoin increase, the other coins also follow the same. Well, if you imply the same phenomena on the other financial market, the assumptions will be mind-blowing. For example, suppose that the shares of Microsoft’s fall and crumble to a large extent, it does not mean that the other shares are also going to crumble. It is going to be the most ridiculous assumption you will ever make. Therefore, understanding the phenomena behind the effect of bitcoin prices on other cryptocurrencies is very important.

Why does this happen?

When bitcoin came into existence, it was the first of its kind. Therefore, it is entirely sure that bitcoin will influence the whole business. It is one of the most prominent reasons because of which the prices of bitcoin affect the prices of other cryptocurrencies. No doubt, Bitcoin is the currency that has made the whole cryptocurrency market mainstream in today’s world. The whole principle of cryptocurrencies and blockchain technology depends entirely on the functionality of bitcoin. Now, the bitcoin prices have increased more than $50,000, and it is the main reason because of which the other cryptocurrencies gained popularity. When bitcoin came, a completely new industry came, and bitcoin was the only one to drive it. Therefore, it will have influence as long as it exists in the financial market.

However, some experts do not believe that cryptocurrencies like bitcoin will remain in power for a very long period. According to experts’ reports, it is said that BTC dominance is entirely near its end. The main reason for this is the evolution of new digital coins. Like technology, the old ones get out when new things come into the market. The exact implications are applied to bitcoin. Due to the emergence of other digital coins, bitcoin is expected to lose its dominance in the cryptocurrency market, which is an evident and well-understood phenomenon. Many experts say that other cryptocurrencies will surpass bitcoin in the coming few years, and it will be the downfall for BTC.

Will BTC fall?

Bitcoin is considered to be the safest method of investing your money today. However, it is technically the important one because it came before any other digital coin in the world. The proponents of bitcoins shifted to this cryptocurrency because they want comfort and an ever-increasing value. However, the concept in the past few years says otherwise. In April, the second most popular cryptocurrency Ethereum increased its prices and market capitalisation. The dominance was increasing at a very high pace in April, and therefore, people are suspecting the dominance of bitcoin in future. They believe that other cryptocurrencies like Ethereum will take the place of bitcoin, and it is going to be the downfall of bitcoin and the end of its dominance.

Also, some other reasons are the main focus for people because of which bitcoin may lose its dominance in future, according to https://bitcoin-storm.live/ . The cryptocurrency market is maturing day by day, and therefore, people are discovering new applications for digital tokens. Bitcoin is just a digital coin that is very volatile and is not stable. Due to the low degree of stability, people will lose interest at some point in time and will be through all its investment from this digital token. It will lead to a decrease in the market capitalisation of bitcoin, and it will not remain in power anymore.

How many people in the world can afford a 10,000,000 EUR property in Saint Tropez?

ABC Staff
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How many people in the world can afford a 10,000,000 EUR property in Saint Tropez?

Saint Tropez is a small village in the South of France which has established itself not only as an emblem of the UHNW jet-set lifestyle but also as an exclusive community for only the wealthiest of homeowners. Its perfect blend of local Provencal charm and modern luxury make this village very special to all those who visit. It is ideally located only 30 minutes drive from a local airport for the arrival of private jets, 15 minutes by helicopter from the Nice International Airport, and 20 minutes by helicopter from Monaco (the mecca of wealth and luxury).

With a limited amount of properties available to purchase and a consistently high demand of investors interested in purchasing a piece of this exclusive haven, Saint Tropez remains on the top of many property investors list. In a world with surging global inflation rates, predicted to grow by 4.7% in 2022, Saint Tropez has become even more attractive thanks to its historically stable and ever increasing property values.

From speaking in thousands to speaking in millions, the property market along the French Riviera has boomed in recent years, attracting a large number of investors from all over the world. In 2019 there were 3.4 million second homes in France while in 2020 there were already over 3.5 million! This trend is something which has greatly affected the real estate market along the Gulf of Saint Tropez.  In 2021 there was a record number of requests for villas for sale in St Tropez for a budget oscillating around the 10,000,000 EUR. More investors are moving towards securing their fortunes in properties.

St Tropez House decided to take a deeper look into the realm of property investment in Saint Tropez and draw on expert formulas to provide insight into ultra high-value property sales and who can afford them.

What do properties cost in St Tropez?

Properties located in the heart of Saint Tropez begin at 3,000,000 EUR and go upwards to 50,000,000 EUR. Villages located around Saint Tropez, namely Gassin, Sainte Maxime, Cogolin and Grimaud will have lower prices.  In an effort to provide fact-based statistics for property sales in Saint Tropez, St Tropez House has launched a one-of-a-kind Sales Report which breaks new ground for investors. This report uses statistics provided by the French government to help potential investors draw important and tangible conclusions when searching for a property for sale in Saint Tropez. Such interesting information in this report includes the average sales price in 2018-2019, being 5,400,000 EUR (excluding commissions & charges). It also compares the average prices of the top 7 districts of Saint Tropez. The most expensive properties are found in the posh private domain Les Parcs de Saint Tropez. Only Luxe is listed at 13,400,000 EUR and the perfect example of a villa currently for sale in Les Parcs. When purchasing a property in Les Parcs, one should expect to pay a ‘premium’ for being in this prestigious location.

Having specialised in high-value properties in Saint Tropez for over a decade, St Tropez House is proud to have only the finest of villas to propose to our clients. Our sales portfolio offers a large property selection with an average sales price of 10,000,000 EUR.

Can you afford a 10M EUR property?

Investors with this budget in Saint Tropez should have a healthy selection of villas to choose from. Les Marres Luxe, listed at 9,900,000 EUR, is a stunning 6 bedroom villa in Ramatuelle with several luxurious amenities, such as a private cinema, which provides insight into the type of properties this budget will afford.

There are two principal ways to calculate if you can afford to purchase a luxury property of 10,000,000 EUR. Each of these simple methods can be used to provide quick insight into what you can afford based on your unique circumstance.

The first approach was created by Barbara Cocoran and bases itself on calculation your yearly salary. The second approach uses instead your total net worth to calculate your property investment potential.

First Approach: The “Corcoran formula”

Real estate mogul and ‘Shark Tank’ celebrity Barbara Corcoran created a simple formula for those interested in purchasing a property anywhere in the world. The beauty of this formula is it applies to all budgets and can be used to assess the purchasing power of any investor. She explains this formula by stating: “Multiply your salary times four and that’s generally what you can qualify for.”

Corcoran offers another simple rule for investors regarding housing costs, which cannot go unnoticed in any property purchase. She advises to aim to spend roughly 30% of take home income on housing costs, namely mortgage interest, insurance, taxes and any foreseen or unforeseen renovations needed. For luxury properties this will also include staff, grounds maintenance and domain fees (if applicable).

By applying the simple ‘Corcoran formula’, we can conclude that by generating an annual income of 2,500,000 EUR, one can afford to purchase a 10,000,000 EUR property. This simple formula is of course only used as a general guideline however it does serve as an interesting tool for investors.

The average down payment of 20% applies also to luxury properties therefore an initial payment of  2,000,000 EUR would be required and the remaining would apply to a mortgage loan. The monthly mortgage payment will depend largely on the profile of each individual however it is safe to assume it would be roughly 40,000 – 50,000 EUR per month.

Second approach: What is your net worth?

Another way to calculate what you can afford when investing in a luxury property is by looking at your total net worth. This allows for a more all encompassing outlook of one’s finances and investment power.

The majority of new home owners in Saint Tropez invest in luxury properties as secondary/holiday residences. It is safe to assume that one would not be advised to spend more than 20% of their total net worth on a secondary home and therefore a net worth of over 50,000,000 EUR would be necessary to acquire a 10,000,000 EUR property.

The definition of an UHNW is the person having at least 50,000,000 EUR total net worth value. According to the Global Wealth Report by Credit Suisse, there were 168,030 Ultra High Net Worth (UHNW) individuals with net worth’s above 50,000,000 USD in mid-2019. This represents 0,000022% of the global population.

Among this UHNW group, 55,920 had net assets worth at least 100,000,000 USD and 4,830 had assets above 500,000,000 USD.

When breaking down these statistics even further, one can see that North Americans dominate this group, representing 50% of the total, followed by Europeans at 20% and 14% in Asia-Pacific (excluding China and India). China, Germany and the United Kingdom also qualify as important countries with a high population of UHNWI.

The nationality of this small percentage of the global population is very interesting but so too is the prominent industries from which they come. An independent 2021 study by Statista focused on the leading industries worldwide from which UHNWI derived in 2019. Their findings concluded that the primary industries of self-made UHNWI in 2019 were banking and finance which accounted for 27.6% of UHNWI. These industries were followed by business and consumer services at 11.7%, real estate and technology at 6.4% and hospitality and entertainment industries at 5.3%.

When analysing UHNWI with inherited wealth, it is interesting to note that many of the similar industries reign supreme, only non-profit organizations and manufacturing are distinguishing differences within this category of UHNWI.

Why do we advise our UHNW clients to get a mortgage?

Although most UHNW investors have the capacity to pay for their properties outright, this is not the most attractive option in France for a multitude of reasons. There are a series of laws and taxes, most notably l’Impôt sur la Fortune which must be taken into consideration when purchasing a property in France. St Tropez House advises its clients to always consider getting a mortgage and speaking with an independent mortgage broker who will be able to advise them on the most advantageous mortgage solution.

What expected & unexpected expenses are involved in purchasing a luxury property?

Once a luxury property has been purchased, there is a list of additional expenses over and above the simple mortgage payment. Taxes, insurances, maintenance, and staff must all be taken into account when one becomes an owner. Luxury properties will require weekly maintenance of the grounds and regular staff (gardeners, pool men, cleaners) to ensure that the property remains in good condition. The installation and upkeep of security systems as well as ongoing charges such as electricity and water should also be taken into consideration.  Many new owners will also have some small or large renovations they will want to begin once a property is acquired.  It is important to remember that if a property is located in a gated domain of Saint Tropez, there are also domain fees to pay either monthly or annually.

Acquiring a luxury property in Saint Tropez is a highly sought after endeavour which many investors have been doing and will continue to do for many years to come. Finding the perfect property is something which will require time, patience and the proper calculations to ensure your property investment is a growing success.

To find out more information about buying a property in Saint Tropez, contact our team of qualified specialists.

Tips for Saving For your First Home

Sam Allcock
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Tips for Saving For your First Home

If you’re thinking about starting to save up to buy your first home, the whole thing can feel very off-putting. As house prices rise, the concept of even trying to save that much cash can often seem out of reach for most of us.

Fortunately, there are many useful tips available that will make saving for your first home considerably easier. That’s not to say you can decide to start saving and you’ll be an ankle to buying a home next week! It can take time to build up your savings to get the deposit for a mortgage.

However, follow these tips and you could be walking through your own front door much sooner than you ever imagined.

Live More Frugally

The key to saving more money is to spend less money. That’s going to mean some practical changes to how you spend. There are countless guides available online that can inspire you for a more frugal lifestyle, and they don’t involve moving into a cave and living off whatever you can grow.

Simple changes, like switching your bank account, changing your utility providers, cancelling some of your streaming services, using charity shops for gifts, or simply just switching to supermarket own-brand food can save you a lot of cash.

Those savings can then buy straight into your nest egg. The more frugal you live, the easier it will be to see your total savings rise faster.

Have a Target

The next step is to know exactly how much you need to save. Look at the house prices of where you’d like to buy. House prices vary wildly by location, and a three-bedroom house in London is going to mean a very different target than if you’re looking for a one-bedroom apartment in Hull.

It’s not just the deposit that you need to consider though. Your estate agent will want a percentage, and you’re going to need a conveyancing solicitor too. This will end up saving you money in the long term, but it’s a cost that you simply can’t fail to factor in.

Once you have your rough target, you can then make yourself a savings timeline. This will tell you just how long it’s going to take to buy your first home. Depending on your income and outgoings, plus the value of the types of property you’re interested in, that could take years.

They say that the best time to plant a tree is ten years ago. The second best time is today. The same is true of your savings.

Downsizing

This Can mean a major change to how you live, but downsizing is simply one of the best ways to cut your living costs. Whether you move in with friends or family or simply move to a cheaper area, downsizing can be a big step.

However, when you’re looking at where your money goes every month, the biggest expenses tend to be our rent and our bills. Moving somewhere smaller or where the rent is lower is simply one of the best ways to cut your outgoings. Those savings can make saving for your first home considerably easier (and much faster).

Stop the Bad Habits

Smokers spend a fortune on tobacco every week. If you have a bottle of wine to help you sleep every wine o’clock, that expense will also add up. Those bad habits, like getting a takeout every other night or impulse buying at the weekends, all make saving much more challenging.

It can be hard to get rid of our bad habits, but help is available. Everything from smoking to gambling can be stopped with the right approach. Identify your bad habits, look at how much they’re costing you, and make changes as needed. You might even find that this step improves your life in ways you never expected.

Earn More

It’s easy to say that you need to earn more money every month. It’s a lot harder to do. Yet, it might be possible with the right approach. If it’s been a while since your last pay rise, talk to your boss. You never know how amenable they will be.

If that’s not an option, consider a side hustle in your spare time. This can be tailored to your hobbies, selling on eBay, walking your neighbour’s dog, or becoming an online virtual assistant. There are hundreds of side hustle ideas out there, and they could help you save faster than you think.

Start Saving Right Now

The faster you start to save, the quicker you can buy your first house. If you’re new to saving, it can take time to get used to. Make sure that you have a direct debit in place so that a set amount of your wage comes out on payday and goes directly into your savings account.

That way, you won’t be tempted to dip into it. The more you can put aside every month, and the more aware you are of how much you need to put away, the easier it will be to save for your first home.

Take the time to get your savings fully optimised and you could be stepping over the threshold of your first home years earlier than you expected.

About Dov Katz

Sam Allcock
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About Dov Katz

Dov Katz is the co-founder and CEO of the startup organization 2130 Labs. This radical mental wellness company deals with mental health issues through plant-based medicine therapy (involving cannabis) and by using AI algorithms and devoted hardware in order to accommodate the treatment of each person.

Dovis married and lives in Ramat Hasharon. He has 3 children, and one is on the way.Currently, he is working at a startup company in Israel. Being a co-founder, he runs the company to prepareplant-based medicine in the medical devices field. Katz has gathered significant professional experience by leading technological teams,companies, and experts in computer, robotics, and AI version. Dov can not only think about the big picture but also possess the technical expertise to go deep into detail. 

Throughout your career in the high-tech world, how have you had a positive impact on the field?

In my academic studies,I concentrated on the learning of AI and machine vision for robotics. I in fact identified a new field named Interactive Perception where through the trial and error method, robots can become familiar with their world. The robot learns about the functions of the objects by playing with the objects, just like children. Later on, I used this technology for the US Army in a project where the goal was to develop a robot that could clean up piles of fragments and objects after an earthquake or attack. There are videos of my robot in action and academic articles I have written on the subject.

After that, I led the field of AI and computer version at the organization ‘Oculus’. The product we made indeed transformed the world and brought a revolution in virtual or augmented reality what we can see today in every large organization. Exceptionally, that it resulted in Facebook that lately taught us also to change the name Metaverse to Meta. The possibility for harm and the possible outcomes for VR are extensive with any good technology.

For the last few years, I have been engaged in a fenced agriculture project named growin.ag Where I worked to develop a robotic plant-developing system under extremely controlled conditions. As the climate depreciates, this system is essential for the future of the earth. It is quite significant to be able to grow any crop anywhere by using AI and data while saving electricity and water.

Currently, I am in the lead of my company 2130 Labs. Indeed, there is a huge potential power for the well of the company. In the United States, about 80 million people have sleep problems and similarly, there is a large number of people who are suffering from anxiety, depression, and more.

Are there other areas that you would like to pursue, besides developing algorithms?

All my life I have been involved in a field that ranges from hardware to AI and computer vision. This is the field I studied for my doctorate and postdoctoral in which I worked throughout my career. I intend to continue in this field, even though for many years much of my time has been naturally devoted to management. More technological leadership and less self-Implementation.

What is the most unique technological venture you have participated in?

I am very lucky to have enjoyed all the ventures I partook in. They were all special. Each one has had a significant impact on the world and people, and each contains compelling technological challenges. And, as I mentioned, they were all at the crossroads of hardware and software.

How to Compare Credit Cards

ABC Staff
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How to Compare Credit Cards

With a plethora of credit cards to choose from, it helps to have some sort of criteria for narrowing down the search for the right credit card. Before comparing credit cards, applicants can gain a sense of direction by thinking about how a credit card can satisfy their needs, what sorts of cards are accessible based on their credit score, and how using these cards could impact their finances.  

Here are the main factors to consider when it comes time to apply for a credit card.

Eligibility

A great first place for applicants to start is to determine what credit cards they would likely be approved for by checking their credit score. The higher score, the more likely the applicant is to be approved or even pre-approved for a given credit card. Having a lower score doesn’t necessarily mean the applicant won’t be able to get a credit card, but it may limit their options more. When shopping for credit cards, it can help to filter by minimum required credit score. 

APR

The annual percentage rate (APR) refers to a percentage that determines how much interest the cardholder pays on their remaining credit card balance. The higher the APR, the more expensive it is to go into debt. That said, comparing APR is less important if the cardholder plans to pay off their statement balance in full every month, which would mean the cardholder would not pay any interest. Making full payments each billing cycle will also help to improve the cardholder’s credit score.  

Generally speaking, the most competitive credit cards offer lower APRs, and those who have higher credit scores may be more likely to qualify for these cards. However, there are also credit builder cards designed for people with a poor credit score or little credit history.

Credit card issuers only have to provide credit at their advertised rate to 51% or more of cardholders. That means applicants may receive an APR higher than an advertised.

Fees

It’s not uncommon to see credit cards with fees, including but not limited to annual fees, balance transfer fees, and other fees that are important to be aware of. Fees are not necessarily a good or bad thing, but it’s important to know what triggers them so that applicants can make an informed decision when they’re ready to apply for a credit card. 

How to apply for a credit card

Once applicants have found the credit card that works for their budget and lifestyle, they can fill out an application. In most cases, applicants can apply for a credit card online. Many credit card companies have an online prequalification application that can be completed without impacting their credit score. When applying for a credit card, applicants should prepare to provide financial information regarding employment, income, marital status, and debts. So long as applicants do their research and compare the factors mentioned above, they can find the right credit card for their needs.

Mark Hauser Leads Deals in the Business and Financial Services Sector for Hauser Private Equity

ABC Staff
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Mark Hauser Leads Deals in the Business and Financial Services Sector for Hauser Private Equity

Just as manufacturing was once the driving force behind the United States economy, the services sector lies at the heart today. With services representing two-thirds of the GDP it only makes sense that there are massive opportunities for profitability within the sector, making it an appealing area for investors. However, as with any other industry, the services sector has its winners and losers. The sheer scale of it means that it can house companies both profitable and operating at a loss, and market caps can be anywhere from miniscule to blue chip. Additionally,  as technological capabilities have risen so too has the services sector seen rapid evolution, meaning that a company in demand today may be obsolete tomorrow. It requires due diligence and shrewd attention to trends to identify when and where one should make investments in the services sector.

In order to see investment success within the services sector, they must be made with intention, creating a strategy that aids in narrowing the pool to those that have the greatest chance for realized gains. For Hauser Private Equity, a Cincinnati-based hybrid private equity fund manager, they have found success by focusing on the lower-middle to middle markets and making co-investments with other funds who have a strong history of using strategic investment models to add operating leadership to the companies in their portfolio. Additionally, their seasoned managers are able to use their varied expertise to target upwardly trending businesses, undertaking due diligence and execution to bring each co-investment to a successful conclusion. As a result, Hauser Private Equity has invested over $300 million in capital in privately-owned businesses across a diverse set of verticals including that of the services sector.

At the heart of each of these deals is founder and co-managing partner Mark Hauser. Hauser has over three decades of investing and operating company experience, including serving as vice president of Reynolds Dewitt Securities during which time he successfully brought about the public offerings of Mid-American Waste Systems, Future Healthcare and Health Images. He has also served on the board of directors for multiple consumer goods and food & beverage brands, as well as on the board for a number of government-contracted security and defense businesses, as well as digital advertising and textile manufacturing. The breadth and scale of Mark Hauser’s experience has given him a uniquely comprehensive view of the markets, and as a result he has spearheaded the growth of Hauser Private Equity’s portfolio.

As healthcare in the United States has evolved, so too has the ways in which the needs of the country can be fulfilled and services for it can be provided. Advancements in technology and supply chains mean that access to pharmaceutical drugs no longer requires a trip to the pharmacy, often a difficult task for those dealing with debilitating injuries or ailments. Recognizing the value a home delivery pharmacy services could add, in 2014 Mark Hauser led a deal for Hauser Private Equity with fund partner ACON Investments to invest in Injured Workers Pharmacy, L.L.C. Additionally, they partnered with two former senior executives of Omnicare, Inc., a Fortune 500 company that is a provider of long-term care and specialty pharmacy services, and Triton Pacific Capital Partners, LLC an experienced private equity healthcare services investor.

A specialty home delivery pharmacy, Injured Workers Pharmacy serves patients injured in accidents covered by Property Casualty insurance, enhancing patient access and alleviating administrative and financial burdens by shipping medications directly to the patients and managing the often complex reimbursement process. At the time, the pharmacy markets for workers’ compensation, automobile personal injury protection and personal industry amounted to $8 billion, and Injured Workers Pharmacy’s patient care advocacy program had proven to result in injured workers experiencing better recovery outcomes, returning to work faster, and creating demonstrated savings. Through partnering with experts within healthcare while leveraging their own expertise, Hauser Private Equity was able to see the successful realization of this services sector investment.

Although Hauser Private Equity has certainly been a strong player in the services vertical, it is by no means the only way Mark Hauser has built the company’s portfolio. Indeed, one of the company’s most recent successful ventures was in the sale of Igloo, the United States’ leading cooler manufacturer. In a landmark sale, the company was purchased by Dometic Group AB, the publicly traded Swedish manufacturer of accessories for campers and RVs, having previously been acquired by the private equity investment firm ACON Investments with co-investment from Hauser Private Equity in 2014. Igloo pioneered the cooler product segment when it launched over 70 years ago, and today is the global leader in the production of passive cooling boxes.

Thanks to capital and expertise provided by Hauser Private equity, alongside advising on strategic operations from ACON Investments, Igloo has seen strong growth, reporting a 24 percent increase in net sales for the most recent 12-month cycle when compared to the previous reporting period. The Dometic-Igloo transaction is mutually beneficial from an operations perspective, creating a stronger combined sales platform for both platforms that is expected to produce $150 million in higher annual sales. ACON Investments served as the deal lead, while Hauser Private Equity and Mark Hauser maintained detailed knowledge of the transactions throughout the process.

Within the services sector, the multitude of options can be overwhelming for any investor. It requires acquisition due diligence and a strong finger on the pulse of trends to successfully parse through the many companies and identify which stand poised for growth. Capital put in the right direction can result in revenue growth, increased margins, and strong exits, and Mark Hauser knows where to look.

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