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Global Update: Record Prices Don't Dampen Brooklyn Buys

News from luxury home markets around the world

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The view from a $32 million six bedroom, seven bathroom penthouse in Brooklyn, New York.

SOTHEBY'S INTERNATIONAL REALTY
The view from a $32 million six bedroom, seven bathroom penthouse in Brooklyn, New York.
SOTHEBY'S INTERNATIONAL REALTY

UNITED STATES

Chinese investors recently became the largest group of foreign buyers of U.S. real estate, but will China’s recent stock market woes curb their property purchases in America? [NBC News] Record-high prices are doing nothing to slow Brooklyn property sales according to a new report from Douglas Elliman, which found that the average time on market from co-ops, condos and townhouses in the borough was 73 days, down 33% year-over-year and the shortest record since 2008. [The Real Deal]More: Miami’s Extreme Amenities Newsday profiles several of the Frank Lloyd Wright-inspired luxury properties currently available on the Long Island real estate market. [Newsday] Inman offers brokers tips on how to construct a drone-centric luxury listing video. [Inman]

EUROPE

An 11.5-acre estate in the London suburb of Totterigde with a bowling alley, theater and its own five-hole golf course has gone on the market for £19.5 million (about US$30 million). [Mirror]More: The Fine Living Future of Canary Wharf According to real estate agents, Greece’s current debt crisis is not affecting foreign buyers interest in the nation. [PropertyWire]

CANADA

Rising demand and increasing bidding wars is encouraging a culture of property flipping in Vancouver. [The Vancouver Sun] Toronto experienced an increase of 56% year-over-year in sales of homes in excess of C$1 million (US$787,572) while Vancouver saw an increase of 48% with most of the demand coming from foreign buyers. [Mortgage Broker News]

AUSTRALIA

Australian brokers are finding that Chinese buyers have become more cautious in their property investment in Australia amid China’s share market collapse. [ABC News]

CARIBBEAN

According to a new report from 7th Heaven Properties, demand for Caribbean real estate doubled in the first half of 2015 compared to the same period last year, with the majority of inquiries coming from potential buyers in the U.S., Canada and the U.K. [World Property Journal]View full listing (pictured top)

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