Get the most from your visit to the popular art fair. Read More
BY THE NUMBERS
LISTING OF THE DAY
The house is unusually wide for a home in the center of the British capital. Read More
Mayi de la Vega sees lots of luxury buyers coming to nearby Fort Lauderdale, too. Read More
Hong Kong Home Prices Could Climb 10% in 2018
After an 11% price increase so far this year, Hong Kong’s rapid price growth is expected to continue into 2018. Colliers International forecasts 8% to 10% price growth for mass market homes next year, and Knight Frank predicts 5% growth for that market and 8% for luxury properties. Low supply and high demand, easy access to credit, and an increase in parents helping children with purchases are all contributing to price hikes.
Hong Kong Apartments Sold Through Tender Net Higher Prices
Sales by tender are increasing prices in Hong Kong, where around 80% of flats sold through tender have reached record prices in their respective developments, according to numbers from Dataelements. “In some cases, units sold by tender could be 30% to 40% higher than those sold by price list,” said a researcher from Ricacorp Properties. An analyst for Colliers International noted that an apartment listed traditionally might sell for HK$30,000 (US$3,845) per square foot, while the same unit would go for HK$35,000 (US$4,486) per square foot when sold through tender.
A $45 Million Florida Compound is Headed for Auction in December
A 40,795-square-foot, $45 million oceanfront property in Vero Beach, Florida, is headed for auction next month without reserve and with no minimum bid. The compound includes an 18-bedroom main home, two guest houses and a caretaker’s cottage. There’s 310 feet of private ocean frontage, as well as a pool with grottos and slides, outdoor kitchens and cabanas, a wine cave and a professional-grade home theater.
Brisk Transactions and Lower Prices Were Hallmarks of Dubai’s 2017 Market
Dubai saw more than 50,000 sales transactions from January through September, according to the Dubai Land Department, thanks in part to a spike in off-plan sales, which accounted for 68% of transactions in 2017, and 74% of deals in the third quarter. Developers continued to focus on lower-priced inventory to meet demand this year, and apartments largely traded for between Dh1.25 million to Dh1.5 million (US$340,330 to US$408,397), while villas and townhouses sold for an average of Dh2.1 million (US$571,755).
Britons Pay a £116,501 Premium for a Home in a National Park
Homes in Britain’s protected countryside areas cost an average of £116,501 (US$155,820) extra, or 46% more than comparable nearby properties, according to data from Lloyds Bank. All U.K. national parks except Snowdonia have higher home prices than in the surrounding countryside, with premiums surpassing £150,000 (US$200,625) in the New Forest, South Downs, the Peak District, and the Lake District.
AROUND NEWS CORP
One Interior Designer’s War Against Clutter [The Wall Street Journal]
The $72,000 Question You Should Be Asking Your Real Estate Agent [MarketWatch]
A Symphony of Modern Design [The Times of London]
Rent No More! 10 U.S. Cities With Huge Increases in Homeownership [Realtor.com]