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Mansion Global Daily: Celebrity Endorsements, Price Gains in China, and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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An interior view of the beach front villa that Drake and Rihanna stayed in September 2016.

Courtesy of The Agency
An interior view of the beach front villa that Drake and Rihanna stayed in September 2016.
Courtesy of The Agency

How Stars Increase a Property’s Profile and Add Air of Exclusivity

Celebrity endorsements lead to publicity, but not necessarily a premium sales price. Read More

BY THE NUMBERS 

TRENDING TODAY 

LISTING OF THE DAY 

A Serene Penthouse in one of Santa Barbara’s Tallest Buildings

Perched above the iconic Granada Theatre, this large Southern California apartment has city, ocean and mountain views. Read More

NEIGHBORHOOD NOTES 

Japan’s Ashiya: A Prestigious, Upscale City Between Kobe and Osaka

Ashiya, located midway between the Japanese cities of Kobe and Osaka, is known for its sweeping hillside vistas overlooking the Osaka Bay. It is considered one of the wealthiest areas in Japan—with many large homes featuring tennis courts, swimming pools and tea houses. Read More

NEWS BITES 

Beyonce and Jay-Z Have Reportedly Closed on a $90 Million Bel-Air Mansion After a years-long search in Los Angeles, Beyonce and Jay-Z have reportedly closed on a new construction Bel-Air mansion for $90 million, though the sale is not yet public record. The two-acre property includes roughly 30,000 square feet of interior space, 10,000 square feet of outdoor living space, a 15-car garage, full basketball court, separate staff quarters, a spa and other wellness facilities, and four different outdoor swimming pools. Los Angeles TimesPrice Gains for China’s New Homes Cool Amid Stricter Government Rules Prices for China’s newly built homes showed a slight slowdown in July. The sales value of new homes rose 4.3% year over year to 779 billion yuan (US$117 billion) representing the slowest annual pace in more than two years (by comparison, June saw a 26.4% yearly jump). New borrowing rules, part of a campaign by the government to make housing more affordable across the country, seem to have prevented people from qualifying for mortgages. South China Morning PostEconomists Say Canada’s Housing Bubble Has Officially Ended With tighter lending restrictions, mortgage rates on the rise, and new government cooling measures in major cities, housing markets across Canada are finally showing signs of slowing, and saw the fourth straight month of transaction decline in July, with home resales dropping 2.1%. The declines are led by the Greater Toronto Area—which enacted a foreign buyer tax in April, and has seen its market respond accordingly—but Vancouver also saw a 1.7% drop in resale activity. Vancouver SunMiami Developer is Selling Moroccan-Style Mansion for $13 Million After initially listing the property for $15.9 million last fall, Miami developer Masoud Shojaee has put his Moroccan Coral Gables estate back on the market for $12.9 million. The 12,492-square-foot property has eight bedrooms, a tennis court, a billiard room with its own bar, and multiple outdoor pavilions, and is one of the seven largest homes for sale in the neighborhood. The home was reportedly constructed in 2003 after the property was acquired for $1.56 million. Curbed Miami

AROUND NEWS CORP 

The Open-Floor-Plan Backlash: How Family Members Are Escaping Each Other [The Wall Street Journal]

Check out the Los Angeles Home Kylie Jenner Just Flipped for a Cool Profit [Moneyish]

What Is a Planned Community? A Place With Perks, From Zip Lines to Velodromes [Realtor.com]

Hedge Funder Just Dropped $40M on Ultimate Bachelor Pad [New York Post]