Australian vacation area sees robust sales and record-breaking prices. Read More
BY THE NUMBERS
LISTING OF THE DAY
The apartment has views of Central Park’s reservoir. Read More
America, Linda Pinto says, is a ‘safe bet for making money.’ Read More
39.5% of Current London Listings Have Had a Price Chop
New figures from real estate portal Zoopla show that 39.5% of London listings have undergone price reductions, up from 36.7% in July. The average price reduction in the city is 7.4%, or £53,251 (US$71,312), though in more expensive areas like Kensington and Chelsea, the average discount is 7.9%, or £129,559 (US$173,502).
China Home Price Growth Slows for 12th Straight Month
The average cost of housing in 70 major Chinese cities grew just 5.1% in November, according to data compiled by Reuters. This marks the 12th month of slowing growth, after a peak growth rate of 12.6% in November 2016. Prices rose in 59 of the 70 cities surveyed, but dropped in major hubs, including Shanghai, Beijing, and Shenzhen.
Ireland Continues to See Double-Digit Home Price Growth
Irish home prices rose 12.1% year-over-year in October, while Dublin saw an 11.6% increase, the West region saw a 15.8% increase, and the Midland region saw an 8% increase. In October 2016, the annual growth rate was just 7.5% year-over-year, per the Central Statistics Office. The median national home price in October was €220,000 (US$259,500), and overall, prices have increased 70.2% from their 2013 low point.
State Mortgage Bank Warns of Worsening Housing Slump for Stockholm
Home prices in Stockholm have already fallen 9% in the past three months and are likely to fall further, according to SBAB, the state-owned mortgage bank. An excess of supply and fear of new mortgage rules are shutting out would-be buyers, and nationally, prices have dropped 7.3%. “Price in Stockholm city are now down 10% to 15%, and may well drop another 10% to 15%,” said SBAB CEO Klas Danielsson.
Saudi Crown Prince Identified as Buyer of $300 Million French Chateau
Crown Prince Mohammed bin Salman, 32, heir to the Saudi throne, has been named as the buyer of France’s Chateau Louis XIV, which sold for $300 million in 2015 and is reportedly the world’s most expensive home. A crumbling 19th-century chateau once stood on the 57-acre property, but a developer in 2009 tore it down to build a new one. Prince Mohammed, who preaches financial austerity and is leading a crackdown on corruption among the Saudi elite, also bought a $450 million Leonardo da Vinci painting at auction last month, smashing price records.
AROUND NEWS CORP
Miami Beach Estate With Beauty Salon Asks $29.5 Million [The Wall Street Journal]
Home-Builder Confidence Roars to an 18-Year High [MarketWatch]
Mystery Seller of $5.3M Apartment Really, Really Loves Nixon [New York Post]
6 Tips for a Cozy and Winterproof Patio You Can Enjoy Year-Round [Realtor.com]