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Based on Jonathan Miller of Miller Samuel, costs for prime residential actual property in New York were down 4.four p.c over the previous year.

He stated real property shares could fall further as demand for property in key cities remained weak.

The new law requires that all actual estate transactions be made by way of Cuban bank accounts so that they are often higher regulated, solicitor referral service and it units a tax rate of 8 p.c of the assessed worth - split equally by purchaser and solicitor referrals vendor.

After getting his PhD, Saiz was hired in 2003 as an assistant professor on the College of Pennsylvania's Wharton College