Cyprus’s Golden Visa is Attracting International Buyers Looking for Second Homes
The country’s accessibility to beaches and skiing are draws, too. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Seriously Luxe Beach House in Kiawah Island, South Carolina
There’s a private boardwalk with access to the beach. Read More
THE INSIDERS
U.K. Designer Says to ‘Never Underestimate the Value of a Good View’
Katharine Pooley on why she’ll always choose a resale over a new building. Read More
NEWS BITES
Average U.K. Rents Rose 1.9% Year-Over-Year in April Average U.K. rents rose 1.9% in April, bringing the cost of a new tenancy up to £953 (US$1,295) per month, according to the Hamptons International monthly lettings index. Rents grew the most in the South, where greater London saw a 2.2% increase, while rents in the North fell 0.3%, and rents in Scotland fell 5.3%. The average cost of a new rental in the South is now 2.2 times as much as the average in the North. PropertyWire
Brooklyn Developers Turn Their Attention to Sheepshead Bay Sheepshead Bay, a residential neighborhood in the southernmost part of Brooklyn, New York, is beginning to get a taste of the development boom that’s come for the rest of the borough. New condo projects including a 28-story development from AvalonBay are dotting the neighborhood, which developers describe as still being "under market" given its transportation options and waterfront location. The Real Deal
Auction Clearance Rates Hit a Five-Year Low in Melbourne, Australia Auction clearance rates in Melbourne, Australia, are below 60% for the second time in 2018, nearing their lowest point in five years, according to Domain Group data. The most recent clearance rates were at 58.9%, whereas busy periods last year saw rates as high as 80%. "No one is going to argue the market is cooling," said Kirk Stafford of Stafford Property Advisory. "There was a fever in the market last year that is gone." Domain
Officials From Chinese Cities Warned of Continued Need for Price Cooling Measures Earlier this month, China’s housing ministry brought in officials from a number of second-tier cities including Chengdu, Taiyuan, Xian, Harbin, Kunming and Guiyang, all of which had seen higher home price rises than comparable cities. The ministry reportedly warned the officials "not to loosen the intensity of property market controls," per Xinhua. In some cases, putting price caps on new homes has resulted in skyrocketing prices for secondhand properties. South China Morning Post
AROUND NEWS CORP
Le Belvedere, a Lavish Los Angeles Mansion, Sells for $56 Million [The Wall Street Journal]
J. Lo and A-Rod Swing for the Fences With Pricey NYC Purchase [realtor.com]
Inside Brooklyn’s Cute House-On-A-House [New York Post]
Warehouse Apartments All the Rage in Sydney [news.com.au]