Dubai’s property market continues to show signs of recovery ahead of world Expo 2020, with sales volume the highest in pricey central neighborhoods around the iconic Burj Khalifa building. Read More
BY THE NUMBERS
LISTING OF THE DAY
The estate features vineyards that are unused but could be restored. Read More
Sometimes it’s best to start with the rug, other times you want to finish the design process with it, experts say. Read More
Southern California Home Prices Have Tied Their All-Time High
The median home price in Southern California rose to $505,000 in September, according to CoreLogic’s latest report, a 10% increase from the previous year, and equivalent to area home prices in 2007 prior to the housing crash. In Los Angeles County, the median September price increased 9.5% up to $575,000, bringing it $25,000 above its pre-recession peak. Prices in Orange County have also surpassed their 2007 highs, rising 11% to a median of $710,000, a $65,000 increase from their 2007 levels.
South Korea Will Tighten Lending Restrictions for Second-Home Buyers
South Korea’s government announced this week that it will be imposing new mortgage curbs on buyers of second homes in an effort to slow the growth of household debt. Starting next year, lenders will be required to include the principal balance of a would-be buyer’s existing debt when assessing their qualifications for a mortgage. South Korea’s total household debt totaled $1.23 trillion in the second quarter, up 10.4% from last year.
Sweden’s Housing Market is ‘Dampened’ But Still Stable, Bank Says
Home prices in Sweden have more than doubled in the past 12 years, and though the boom has stoked unpleasant memories of the Swedish banking crisis in the 1990s, the nation’s financial industry sees a more stable outcome this time around. Swedbank’s CEO said this week that a sharp dropoff in prices is not anticipated.
Mystery Author Selling Her Florida Home for $3.6 Million
Mystery author Jilliane Hoffman and her husband have listed their 6,200-square-foot Mediterranean home in the Los Olas section of Fort Lauderdale, Florida, for $3.6 million. The couple purchased the land for $2.55 million in 2005, and built the home the following year. The five-bedroom, six-bathroom property includes an outdoor kitchen, wine room, home theater, a balcony overlooking a canal, and 100 feet of deepwater dockage.
Saudi Arabia Announces Plans to Build a $500 Billion Mega City
Crown Prince Mohammed bin Salman announced plans this week for a massive new city on Saudi Arabia’s Red Sea coast, which will have $500 billion in backing from the Saudi government, and operate separately from the “existing governmental framework.” The city would include a Red Sea-spanning bridge connecting the city to Egypt and the rest of Africa and 10,000 square miles have been allocated for the project.“
AROUND NEWS CORP
Skullcandy Chief Lists Snowboarding Estate for $18.9 Million [The Wall Street Journal]
This Glam Gramercy Home Used to Be a Church [New York Post]
These 10 U.S. Cities Have the Best Quality of Life [MarketWatch]
Should You Find a Home Inspector or Go With Your Real Estate Agent’s Recommendation? [Realtor.com]