London’s Blue Plaque Houses Have Prestige, Not Necessarily Higher Prices
Over 900 residences around the British capital have the historic designation. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Triplex Penthouse Atop New 46-Story Oceanfront Tower in Florida
The buyer gets a $500,000 rare pink diamond as a closing gift. Read More
THE INSIDERS
Steve Gold Says Buyers Can ‘Score an Incredible Deal’ Right Now
The "Million Dollar Listing New York" star and broker says to not be afraid to make a big move. Read More
NEWS BITES
Rupee’s Decline Means More Indian Expats in the UAE are Investing in Their Native Country A decline in the value of the Indian rupee is causing an uptick in sales in the country by non-resident Indians now living in the United Arab Emirates, a report by the Indian Property Show found. And those buyers are increasingly forgoing financing: 42% of the 15,000 respondents weren’t seeking financing, up from 34% a few months ago. The report also showed an increased interest in investment property, with about 41% of those polled looking for properties for reasons other than their own use. Mumbai, Bangalore and Chennai are the three most popular investment spots, the survey said. The Khaleej Times
New Saudi Arabian Subway Line Set to Boost Home Prices The Riyadh Metro, set to open in the Saudi Arabia capital in 2019, could bring higher home prices across the city, according to a report by global consulting company Knight Frank. The AED 84.48 billion (US$23 billion) project could be a boon for secondary neighborhoods as well, creating future "value hotspots," the report said. The metro will have six lines and 85 stations, and mixed-use developments near those stations are set to benefit as the country’s younger generation looks for more affordable homes. The National
Zaha Hadid’s One Thousand Museum Plans to Have Only Private Helipad In Miami Zaha Hadid’s One Thousand Museum in Miami will have its own private helipad, the only one in the city, according to Zaha Hadid Architects and One Sotheby’s International Realty. Residents of One Thousand Museum will be able to "reserve the helipad and book a flight to and from Miami International Airport, nearby islands, and destinations through the tower’s luxury management service," according to One Sotheby’s. Curbed Miami
Canadian Home Price Growth Slows With Higher Interest Rates, Stricter Lending Guidelines Tighter lending and higher borrowing costs have stunted home price growth in Canada, according to a Reuters poll. Interest rates have increased three times since July, with at least one more bump up expected this year. In addition, so-called stress tests are now part of the mortgage application process for borrowers, causing a slowdown in demand. The poll found Canadian housing prices will rise by a median 1.9% in 2018, down from March's forecast of 2.5%. Toronto prices are expected to rise 2% both this year and next, while Vancouver is seen gaining 5.5% in 2018 before slowing to 3.4% in 2019, the poll found. Business Times
Mortgage Rates in the U.S. Slip for the Second Consecutive Week U.S. mortgage rates have been down for two straight weeks, according to Freddie Mac's latest Primary Mortgage Market Survey. The 30-year fixed-rate mortgage declined two basis points to an average of 4.54% in the week ending June 7, down from 4.56% the previous week and up from 3.89%, the rate at this time last year. For 15-year fixed-rate mortgages, the average rate was 4.01%, down from last week when it averaged 4.06%. Last year, the 15-year FRM averaged 3.16%. World Property Journal
AROUND NEWS CORP
The Lucrative Locations for Downsizers [The Times of London]
5 Improvements to Boost Your Home’s Value [MarketWatch]
NYC Factory Transformed Into Bocce, Taco and Sunbathing Oasis [New York Post]
Get Into the Groove With Madonna's Former Sunset Boulevard Mansion [realtor.com]