Living in a home built by a famed architect like Frank Lloyd Wright has its advantages, and challenges, too. Read More
BY THE NUMBERS
LISTING OF THE DAY
The al fresco kitchen is on the apartment’s 800-square-foot rooftop terrace. Read More
We spoke to Sharif El-Gamal, chairman & CEO of Soho Properties, about his amazing piece of Muslim history, his favorite work and home amenity, and more. Read More
U.K. Home Prices Forecast to Rise Just 1% in 2018
Overall asking prices in the U.K. are expected to grow by just 1% in 2018, according to a new report from Rightmove. At the high end of the market, prices are expected to drop 2%, while two-bedroom-or-less properties will see prices grow 3%, and relatively affordable properties with three to four bedrooms will see 2% price growth. “The peak in the cycle of rising prices was 2015’s annual jump of 7.4%,” said Rightmove director Miles Shipside.
Sweden’s Market Prepares for Reports on ‘November Noir’ Drop in Prices
Market reports released later this week are expected to show evidence of further price declines in Sweden’s housing market, on the heels of a 3% price drop in October, the largest dip since 2008. Nordea Bank AB predicts a so-called “November Noir,” with another 3% month-to-month price drop, and a 1% annual decline. A construction boom has put supply ahead of demand, and this November had 57% more apartments on the market than in the same month in 2016.
Dubai’s Rent Declines Expected to Continue, but Remain Small
Though rents continue falling in Dubai, price cuts are expected to remain tempered in 2018. “As the next cycle of lease renewals inspire re-locations, particularly among tenants whose rents are yet to reflect the softening market, we expect rents to continue softening,” said a forecast from Core Savills. The report noted that the prime residential market has “some more room to contract,” while new supply is putting pressure on rents in the upper and mid-prime segments.
As China Pushes for Affordable Rentals, a New Type of Property Bond Emerges
Amid the Chinese government’s efforts to create more options in the rental market, Longfor Chongqing Enterprise Development has filed plans with the Shanghai Stock Exchange to issue rental housing bonds, with proceeds promised to go to rental projects. These type of bonds provide a new option for developers recently shut out of the market by government cooling measures. This is the first such application for this type of bond in China’s market.
AROUND NEWS CORP
Upper East Side Townhouse in Contract for a Record $80 Million [The Wall Street Journal]
Downsizing for an Upgrade [The Times of London]
City Cashing in by Selling Streets, Sidewalks to Private Owners [New York Post]
Planning a Kitchen Remodel? Ask Yourself These 8 Questions First [Realtor.com]
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