The U.S. practice of hiring buyers’ brokers is catching on in key markets throughout the country. Read More
BY THE NUMBERS
LISTING OF THE DAY
The transformation was documented on TV show “Grand Designs.” Read More
The 50-year New York City real estate veteran says the news has less of an effect on real estate than you might think. Read More
Semi-Detached Homes See Scotland’s Biggest Price Increases
New research from the Bank of Scotland shows that the average price of a semi-detached property in Scotland has increased £41,639 (US$55,914)—or £694 (US$932) per month—in the last five years, the largest increase of any property type. Prices for semi-detached homes rose 32% last year, compared to an overall market-wide property price increase of 26%. The average price of a semi-detached home is £173,423 (US$232,877) in Scotland and £225,123 (US$302, 301) across the U.K.
Melbourne, Australia, Property Auctions Are Now ‘A Buyer’s Market’
Melbourne’s auctions clearance rate was 62.5% over the weekend, the third week running that rates have been in the sluggish low 60s. Buyers are increasingly turning to negotiations rather than auctions as they gain the upper hand in the local market. “The market has certainly turned into a buyer’s market, so you can negotiate and not just on price,” said Greville Pabst of WBP group.
Hong Kong Millennials Are Rushing to Buy New Units Hitting the Market
As Hong Kong’s younger residents get in on the rush to snap up any new properties hitting the market, buyers in the city have purchased around 250 units in the past several days, according to Colliers International Hong Kong. The units were spread across four projects, with prices ranging from HK$19,975 (US$2,545) to HK$28,235 (US$3,600) per square foot. In certain projects, around half of buyers were millennials, many of whom had financial help from parents.
A Dh1.3 Billion Mixed-Used Project Has Launched at Jumeirah Lake Towers in Dubai
Developer Seven Tides launched Se7en City JLT over the weekend, a Dh1.3 billion (US$354 million) mixed-use project that will comprise of over 2,635 units. The 3.5-million-square-foot Jumeirah Lake Towers project will be completed over the next 36 months, with a mix of studios, one-, two- and three-bedroom apartments, as well as duplexes. Hotel space, retail, entertainment, and other amenities will also be included in the project.
AROUND NEWS CORP
Baseball’s Tom Glavine Lists Longtime Atlanta Home [The Wall Street Journal]
Want to Buy or Sell a Home for Less? Look to Blockchain Technology [realtor.com]
Nobody Can Sell This $19m ‘Versailles in Manhattan’ [New York Post]
Could This Be 2018’s Most Lavish Home? [news.com.au]