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Mansion Global Daily: Loving Lisbon, Abu Dhabi Excess, and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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Exploring Lisbon and Its Surrounding Areas

The charming city is laid back, the locals are friendly and the food is amazing. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

An Asian-Inspired House in the Heart of Naples, Florida

The house is offered fully turnkey, with exotic furnishings from Bali and Thailand. Read More

TAX TALK

Taxes on Prestige Properties in France Can Be Complicated

There are upfront and annual costs to consider. Read More

NEWS BITES

New Jersey Home of Mary J. Blige Sells at a Loss The New Jersey home of Oscar nominee Mary J. Blige is in contract for a great deal less than what the singer and actress paid. Ms. Blige purchased the Saddle River house in 2008 and paid $12.3 million. Its most recent listing price was $6.98 million but a real estate source tells the New York Post that the accepted bid was under $6 million. The 13,000-square-foot eight-bedroom sits on four acres and features a movie theater, indoor basketball court, two dining rooms, a custom bar and a wine cellar. New York Post

Abu Dhabi Market Plagued by Excess Supply and Financial Woes Housing demand in Abu Dhabi has dimmed and expectations for the year ahead are low, according to a report from the real estate firm Asteco. The slowdown is being attributed to a weak market and is evidenced by rents falling 17% for apartments and 12% for villas since the end of 2015. Property prices are down 13% for apartments and 8% for villas. The introduction of 5,000 units in 2016 and 2017 hit just as demand declined as a result of layoffs and other austerity measures. PropertyWire

Supply Woes Continue to Damage U.S. Market Limited housing supply is becoming a huge issue in the U.S., causing the number of sales to drop as prices rise precipitously. Sales of existing homes in January declined 3.2% month-on-month and 4.8% year-on-year for the biggest drop since August 2014, according to a report from the National Association of Realtors. Sales are being severely limited by lowered inventory, as supply for January was down 9.5% over the year prior, making it the 32nd month that supply numbers have been down year-on-year. The Midwest and West regions are the most dramatically affected. Curbed

Changes in Tax Law Have Shifted Many Perspectives on Future Price Growth The new U.S. tax laws have many feeling pessimistic about the future of the market, according to a Zillow study looking at home price expectations. In fact, 41% of those surveyed said that they feel more negative about home values in the next five years as a result of the law while 31% said that the changes make them feel more optimistic. Concerns seem to stem from a belief that the tax cuts could lead to an economic slowdown. World Property Journal

AROUND NEWS CORP

Michael Dell Paid a Record $100.47 Million for Manhattan’s One57 Penthouse [The Wall Street Journal]

3 Things Unmarried Couples Should Do When Buying a Home Together [MarketWatch]

The Year That Changed New York City Real Estate [New York Post]

What's Missing From the Housing Recovery? New Condos [realtor.com]