MansionGlobalDailywill be off Monday, May 25, due to theU.S. Memorial Dayholiday and will return Tuesday, May 26.
It’s Still a Good Time to Buy in These Migration Boomtowns
The pandemic has deeply disrupted U.S. housing markets, but long-term population movements driving buyers to areas in Florida, Texas, and Nevada will buoy home values long after Covid-19. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
In the Canadian Resort Town of Whistler, a Modern Cantilevered Home With Amazing Views
A large deck offers unobstructed views of Whistler and Blackcomb mountains. Read More
FROM THE MAGAZINE
Philippe Starck Is Living the Future
The legendary French designer still believes in accessibility and forward thinking. Read More
NEWS BITES
Data Suggests Buyer Opportunities in the Downtown Miami Condo Market The global health crisis is weighing on Miami’s luxury condos, according to data from Condo Vultures Realty. The average luxury unit was asking $2 million in May, down 36.3% from the first quarter’s average sales price of $3.3 million. It suggests that there are opportunities for savvy buyers who may find sellers more negotiable. The data covers resales only in the greater downtown area, including Brickell, the Arts and Entertainment District and Edgewater. The Real Deal
L.A. Megamansion Once Asking $100 Million Gets a New Look, New Name Opus, a high-octane Los Angeles megamansion that once asked $100 million but failed to attract a willing buyer for years, is back on the market with a new sales pitch. The new owner of the Paul McClean-designed property has listed it for $60 million and renamed it 1175 Billionaire’s Row—apparently looking to distance it from its former image as a party house. The seller’s also removed the iconic gold "O" sculpture from the front, turned the Champagne fridge into a more practical food pantry and replaced the stone floors with wide-plank oak flooring. realtor.com
Population Shrinkage to Hit Sydney, Melbourne Housing Housing markets in Sydney and Melbourne will be hardest hit by the steady outflow of people from Australia amid the coronavirus pandemic, according to Sydney-based firm EG Advisory and Urban Planning. More than 310,000 temporary residents, migrants and seasonal workers have left Australia, and another 300,000 are expected to leave by the end of the year. On top of that, net migration from overseas is expected to drop 85% this year, and numerous Australian families could flee expensive urban centers in the coming months amid the virus’s economic fallout. realestate.com.au
Real Estate Investor Looks for Property to Gain on Social Distancing Opportunistic investors are beginning to scout for properties that may benefit from permanent shifts in the way people work in the post-pandemic world. A Hong Kong-based investment group, TTB Partners Ltd., announced it’s looking outside of cities to areas around suburban office parks and warehouses, where they expect companies to relocate employees who aren’t able to work from home permanently. The group is specifically looking for opportunities in the U.K. and Europe. Bloomberg
AROUND NEWS CORP
A Natural Gas Exec Turned His Colorado Ranch Into a ‘Mini Country Club.’ Now He’s Selling It for $220 Million. [The Wall Street Journal]
How Do Virtual Property Viewings Work? Our Guide for Buyers and Sellers [The Times of London]
New Yorkers Find Ways to Cram in Pelotons Amid Coronavirus [New York Post]
The Fastest-Growing U.S. City Most Americans Didn’t Know Existed [realtor.com]