Snowbirds Drive Double-Digit Price Growth in Florida

Buyers are leaving high-tax states like New York, Connecticut and Illinois for more favorable tax homes. Read More

BY THE NUMBERS 

TRENDING TODAY 

LISTING OF THE DAY 

A ‘Softly Modern’ Downtown Manhattan Loft

This apartment is tucked away in Tribeca, among record-breaking real estate sales. Read More

TAX TALK 

How Does the U.S. Homestead Property Tax Exemption Work?

The tax breaks vary wildly throughout the country. Read More

NEWS BITES 

Mahershala Ali Buys $2.05 Million Los Angeles Home
Oscar-winning “Moonlight” star Mahershala Ali has purchased a three-bedroom home in Los Angeles’s Mt. Washington neighborhood for $2.05 million. The home was first listed for $1.988 million in January before being reduced to $1.795 million. Mr. Ali paid $250,000 over the asking price for the three-story, 2,400-square-foot space which features views of the canyons, a garden and cork floors. Los Angeles Times

90% of Prospective Buyers in the U.K. Find the Process Challenging
Tackling homeownership is a difficult undertaking for nearly 90% of those hoping to buy according to a study from the U.K. bank Aldermore. The survey also reported that 40% felt that the hardest part of the process was putting together the money to make a deposit. Nearly half of respondents said they had been part of a real estate deal that had fallen through and that figure rose to 73% among Londoners. City A.M.

Hong Kong Real Estate Market Remains Strong
A supply shortage has led to buyer optimism in Hong Kong remaining strong despite a possible increase in interest rates, according to a new index from the Royal Institute of Chartered Surveyors. The confidence index went from 31 in March to 44 in April as the GDP rose by 4.7% year on year in the first quarter of 2018. GDP growth in the final quarter of 2017 was 3.4%. The survey also indicated an expectation of further price growth in the next year. Property Wire

Parking Spots Could Solve Hong Kong’s Housing Shortage
A possible solution to Hong Kong’s housing crisis might present itself as more residents opt for public transportation over personal car use. Development executive Donald Choi indicated that as transportation technology advances and systems improve, fewer used parking lots could be used for housing land. Hong Kong is the most expensive place in the world to acquire a parking spot in a luxury development, a fact that has led many to get rid of their cars. South China Morning Post

AROUND NEWS CORP 

The Rise of the Child-Friendly Luxury Kitchen [The Wall Street Journal]

Gearing up for Retirement? Make Sure You Understand Your Tax Obligations [MarketWatch]

Estate Where the Obamas Summered Sells for $15M [New York Post]

Beyond Millennials: Generation Z Buyers Are Poised to Upend the Housing Market [realtor.com]