The world’s major financial centers are facing greater risks of a real estate bubble in 2017 compared to last year, with Toronto taking the top spot according to a UBS report Thursday. Read More
BY THE NUMBERS
LISTING OF THE DAY
This fully fenced and gated hilltop house in Austin’s Westlake neighborhood of Tremont was custom built by its owners in 2003, within a protected greenbelt—an area of wild, undeveloped land which neighbors an urban area. Read More
I bought a condo in Brooklyn 10 years ago, and the tax abatement is set to run out in a couple of years. What should I expect when it does? Read More
Survey Says: Vancouver Among Top-10 Priciest Cities in the World
A survey from real estate brokerage Century 21 finds Vancouver is the sixth most expensive city in the world to buy a condo, and the eighth most expensive when it comes to single-family homes. Vancouver condos cost, on average, C$1,172.80 (US$941) per square foot, and single-family homes are C$824.47 (US$661.88) per square foot, according to the survey. The most expensive city in which to buy property overall is Hong Kong.
Global Luxury Real Estate to See More Demand Than Supply
As the world’s population gets wealthier, demand for luxury homes across the globe is expected to surpass supply. According to a report from Luxury Portfolio International, a conglomerate of more than 200 international brokerages, 25% of high net worth individuals are planning to buy in the next three years, and only 17% are planning to sell. The report also pointed to Credit Suisse data to show how the world’s wealthy population is growing: In 2016, there were 1.6 million households with a net worth over $10 million, representing an 11% increase over 2015, and a 91% increase since 2010.
Penthouse With Solarium in San Francisco’s Pacific Heights for Sale
A penthouse at the very top of a 1920s high rise at 2100 Green St. in tony Pacific Heights is for sale for $5.150 million. The home, which offers sweeping views, has two bedrooms, two-and-a-half bathrooms, and a wood-paneled library. The apartment, which is about 3,122 square feet, has a solarium, with travertine flooring and four French doors, and a rooftop terrace, covered deck and sauna.
Half the Houses in Melbourne Worth Twice Original Price
Data from CoreLogic shows that in Melbourne almost half of the homes, or 47.3%, are worth double the price homeowners originally paid for them. This is up from 38.1% the year before. Experts say this is the result of a property market that has undergone years of sustained growth. More than 40% of Victorian homes in the region are valued at twice their purchase price. Only 2.1% of homes in the city were found to be valued at 10% less than their original price, CoreLogic found.
AROUND NEWS CORP
Forward-Looking Homeowners Want Rooms That Do Double Duty [The Wall Street Journal]
Mortgage Rates Stay Flat but Tax Plan Fallout Looms Ahead [MarketWatch]
You Can Now Get an Amazon Echo for Just $100 [Moneyish]
America’s 20 Hottest Markets for Real Estate in September 2017 [Realtor.com]