U.S. Luxury Prices Grow Faster Than Rest of the Market
But prices in cities like New York and Miami have fallen. Read More
BY THE NUMBERS
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LISTING OF THE DAY
A Polished House in San Francisco with Modern Renovation
With both obvious and hidden features, this house is ready for the modern family. Read More
SMART HOMES
It may be time to outfit your house with an automaton. Read More
NEWS BITES
Proposed Measure Will Increase Taxes on Vancouver Luxury Homes Vancouver’s proposed tax increases on homes assessed at over C$3 million (US$2.3 million) have some homeowners fearing they’ll be unable to pay what they owe. The change, which would come next year if passed, will see owners paying an extra 0.2% on any value over C$3 million, and an extra 0.4% on any value over C$4 million (US$3.1 million). Experts have estimated the measure affecting less than 3% of the population. BNN Bloomberg
Bali’s Luxury Real Estate Market Benefits From Tourism, Investments A tourism boom has helped the high-end property market in Bali. In fact, analysts say that prices of villas have jumped by more than 10 times in the past few years. And now there are more homes to choose from, too. According to a 2017 market report, the supply of villas on the island grew 7% annually. South China Morning Post
U.S. Affordability Improves as Average Wage Increases U.S. housing affordability improved in the first quarter of 2018 as a result of growth in wages that more than compensated for the increase in the mortgage interest rate. From January through March, 61.6% of homes for sale were affordable with the median U.S. income of $71,900. In the fourth quarter of 2017 only 59.6% of homes were affordable. The average mortgage rate also rose, moving from 4.06% at the end of 2017 to 4.34% in the first quarter. The most affordable market was Indianapolis-Carmel-Anderson, Indiana, while the most expensive was San Francisco. World Property Journal
Ex-Football Player Antonio Pierce Sells Home for $6.5 Million Retired NFL player Antonio Pierce has sold a Palos Verdes Estates, California, home for $6.5 million. The oceanview, 10,300-square-foot home was originally listed for $7.99 million last year and was eventually reduced to $6.995 million. It has 180-degree views of the water, six bedrooms, a wine cellar and a sunken tennis court. The Super Bowl winner and former Washington Redskin is now a member of the coaching staff at Arizona State University. Los Angeles Times
AROUND NEWS CORP
Malibu Home Steps to the Beach Seeks $57.5 Million [The Wall Street Journal]
Home-Builder Confidence Climbs in May [MarketWatch]
Why This Farm Sold for $200 Million [news.com.au]
Here Comes the Bride! 10 Castles for Sale That Are Fit for Royalty [realtor.com]