After Devastating Destruction, Caribbean Looks To Rebuild
Developers—and buyers—are figuring out how to handle the months ahead. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Spacious Penthouse In the Heart of Historic Charleston, South Carolina
The city has very few tall buildings downtown, so the loft has 360-degree views out to the ocean. Read More
THE INSIDERS
High-End Buyers Are Becoming More Socially Conscious, Says Sydney Architect
Why Alec Tzannes doesn’t like to be associated with the word ‘luxury.’ Read More
NEWS BITES
Guangzhou Ranked as China’s Most Liveable City The new Global Urban Competitiveness Report ranks Guangzhou as the most liveable and affordable of China’s first-tier cities, with average apartment prices at under 20,000 yuan (US$3,007) per square meter, significantly less than for comparable units in Beijing and Shenzhen. Guangzhou’s population continues to grow—it gained 542,400 new residents in 2016—but cost of living remains relatively low, while the local economy is booming. Last year’s reported GDP for the area was US$290 billion, equivalent to Israel’s. South China Morning Post
Slow Post-Brexit Market in London is a Boon for Some Buyers London’s notoriously expensive home prices are now growing more slowly than any other region in the U.K. and even decreasing in some areas, creating an enticing opportunity for a certain subset of buyers. Foreign direct investment in U.K. property dropped from £214 million (US$282.4 million) in the third quarter of 2016 to £77 million (US$102 million) in the second quarter of 2017. Outside of central London, flat wages and plummeting pound values are still stretching affordability, however. Gulf News
London’s Market Sees an Increase in ‘Property Chain’ Deals More sales in London’s struggling market rely on buyers selling off another property before making their newest purchase, an effect known as the "property chain" that indicates decreased financial flexibility. The percentage of London homes sold with no chain dropped from 28% in 2008 to 21% in 2017, and chain-free buy-to-let investors are increasingly leaving the capital for more enticing markets elsewhere in the U.K. Financial Times
Incentives and Lower Rates Could Lure Indian Buyers Back Into the Market "Fence-sitting" buyers in India could likely be brought back into the market with a combination of lowered interest rates and price chops or other financial incentives, according to local property consultants. While many buyers have already been waiting to act in hopes of an interest rate drop, Anarock Property Consultants CEO Ashwinder Raj Singh cautions that "it is unwise to wait for a formal price correction, since prices may not reduce and could even increase in certain locations and projects." BusinessLine
AROUND NEWS CORP
Stuck in Place, U.S. Homeowners Hunker Down as Housing Supply Stays Tight [The Wall Street Journal]
Russian Oligarch Buys 4th Townhouse on Street as Slap in Face to De Blasio [New York Post]
Sticker Shock: Where Homeownership Has the Highest Hidden Costs [Realtor.com]
Turning Barracks and Prisons Into Homes [The Times of London]