Smart Homes Aren’t Automatic Money Makers as Investments
But they tend to be quicker sellers are on the market. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Duplex Penthouse on the Mediterranean Sea in the Heart of Tel Aviv
The owner will have access to the neighboring hotel’s amenities. Read More
NEIGHBORHOOD NOTES
Bishopscourt, Cape Town, Has Sprawling Plots of Land and Large Homes
The purely residential South African suburb attracts wealthy families—both South African and foreign. Read More
NEWS BITES
Dip in Home Prices in Ontario, Canada, Not Predicted to Last The recent drop in home prices in Ontario isn’t likely to last, according to the Canada Mortgage and Housing Corp. The company predicts that growth in the greater Toronto area and Ontario, albeit moderate, will fuel real estate prices throughout the remainder of the year and into 2019. Home prices should be comparable to those from the fourth quarter of 2017, according to the company. It also said sellers may see properties linger on the market somewhat longer, while bidding wars between buyers will be less common. Bloomberg
Rate Hike in U.A.E. Set to Curb Property Investment The property market in United Arab Emirates is set for a slowdown after the Central Bank of U.A.E. raised interest rates. The rate hike will make borrowing more expensive for home buyers, which could cause a dip in the market, as well as for developers, who may choose to forgo new projects amid increased costs. "The mortgage loans and personal loans will be dearer which may reflect in the decrease in demand mainly for investments in property," said Raju Menon, chairman and group managing partner of Morison Menon Chartered Accountants. Khaleej Times
U.S. Mortgage Rates Climb to Second-Highest Level of 2018 After two weeks of declines, mortgage rates in the U.S. jumped to their second-highest level this year, according to the Primary Mortgage Market Survey from Freddie Mac. The 30-year fixed-rate mortgage rose eight basis points to 4.62%, the survey said, up from last week, when it averaged 4.54%, and this time last year, when it the average was 3.91%. World Property Journal
Affluent U.S. Home Buyers Seemingly Unfazed by Tax Laws The real estate world predicted the Tax Cuts and Jobs Act of 2017, passed six months ago, would be a burden on many homeowners and curb sales in high-tax areas of the U.S. But brokers say the many high-net worth individuals are unaffected. Reports suggest demand for high-cost homes is up, with sales of homes over $1 million seeing an increase of 26.7% over the previous year, according to National Association of Realtors. And for the first quarter of 2018, applications for loans in high-cost, high-tax areas were at the highest they’ve been in four years, according to analytics and data company CoreLogic. The Real Deal
AROUND NEWS CORP
Coral Gables Waterfront Estate Asks Record $55 Million [The Wall Street Journal]
Want a Good Deal on a Home? Follow the Tourists to These Sunny Locales [MarketWatch]
What’s Happening to Property Prices [The Times of London]
Bob Hope's Toluca Lake Estate Finally Sells—to Billionaire Ron Burkle [realtor.com]