Late oilman Vernon “Moose” Taylor, Jr. entertained celebrities and royalty in the European manor-style home. Read More
BY THE NUMBERS
LISTING OF THE DAY
The 65th-floor condo has a new $29.75 million price tag. Read More
Whether it’s a good strategy depends on the market you’re in. Read More
Australian New Home Development Booms
Australia is seeing the highest number of approvals for new construction detached homes in 15 years. In the three months ending in April, 31,562 new homes were approved, a growth of 9% on the previous year and the greatest number for any three months since 2003. Demand has risen in part due to increasing population and strong labor markets. The growth of houses hasn’t been matched by apartments. Approval for new buildings dropped by 9.4% in the three months ending in April.
Dubai Residents Are Taking Advantage of Dropping Prices
Falling rents in Dubai are allowing residents to opt for larger and more amenity-laden residences. Prices for apartments at Jumeirah Beach Residence have declined by 15% since the first quarter of 2017 as have the prices for villas at Jumeirah Village. The current prices for villas and townhouses are now comparable to what many are accustomed to paying for only a two or three-bedroom apartment in the area.
Several Factors Account for Boston’s Sky-High Prices
Boston’s consistently high home and rent prices are a result of several factors. Rising populations within the city’s boundaries—and in neighboring areas like Somerville and Cambridge—have increased demand and led to many families passing homes on rather than selling, decreasing the number of homes hitting the market. Exacerbating the growth is the fact that the inventory has fallen far below what’s needed for a city of its size.
Florida Sees Increase in Listings, Sales and Prices
Florida had a particularly strong April with prices, the number of sales and the number of new listings all increasing. Single-family home prices were up 4.1% while the state’s median price for existing single-family homes increased 8.1% and its median price for townhouses and condos was up by 10.5%. The prices for existing single-family homes went for a median of 96.6% of asking and the prices for townhouse and condos went for a median of 95%. April marked 26 months in a row that the statewide median prices for single-family houses and townhouses and condos increased.
Bill and Melinda Gates Purchase Manhattan Home for Daughter
Bill and Melinda Gates have purchased a $5 million East Harlem apartment for their 22-year-old daughter, Jennifer. The soon-to-graduate Stanford University student is believed to be attending medical school in New York City. The last asking price on the three-bedroom was $5.25 million. It’s 2,389-square-feet and overlooks Central Park. The couple also recently spent $16 million for a horse farm Westchester.
AROUND NEWS CORP
Luxury Real Estate Comes to Urban Chinatowns [The Wall Street Journal]
Trump’s Steel and Aluminum Tariffs May Increase Costs for Home Buyers and Renters [MarketWatch]
Second-Home Buyers Are Flocking to This Out-Of-State Oasis [New York Post]
7 Dumb Reasons People Can’t Sell a Home [realtor.com]