The Real Deal explores the dilemma faced by developers attempting to gauge demand for ultra-luxury condos in an increasingly global buyer pool. [The Real Deal] In his latest ReportsOnHousing, Orange County analyst Steve Thomas warns that sellers may be overpricing their homes. Thomas notes that “homes listed above $1.5 million are 20% of the active inventory but just 6% of all new escrows.” [The Orange County Register] Beijing is facing a luxury oversupply problem as booming sales lead to frenzied development. Currently, the city has over 20 housing projects for sale at more than 100,000 yuan (US$16,116) a square meter, with four more of such projects approved this month. [South China Morning Post]
New York real estate brokers are finding that the once nonexistent selling season of summer may soon eclipse spring, traditionally the busiest selling season, due in no small part to the power of the Internet. [Real Estate Weekly] Luxify.com and Landscope Christie’s International Real Estate are partnering on a new venture to “offer consultative service for clients who wish to purchase the finest overseas vineyard properties” in response to a growing demand of wine-minded buyers in China. [The Jakarta Post] Data released by the Australian Bureau of Statistics showed that prices in Sydney rose another 3.1% in the first quarter of 2015, confirming what anecdotal evidence suggested. The report also found that prices were flat or falling in Australia’s other capital cities, allaying concerns over a national housing bubble. [Domain] Holy rollers: A nondenominational church that has been in Miami’s Edgewater neighborhood since 1961 has decided to sell its 2 acre bayfront property after years of being approached by developers and receiving offers of more than $40 million. [Miami Herald] The Street profiles the lucrative property portfolio of pop star (and real estate mogul) Taylor Swift and explores her family’s history in the real estate business. [The Street] Realty Today profiles the world’s top four estates owned by billionaires [Realty Today]View full listing (pictured)
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