British citizens and international buyers alike turn to renting high-end properties. Read More
BY THE NUMBERS
LISTING OF THE DAY
Subterranean levels add space and amenities—including a pool and cinema— to the home. Read More
Space-age bathtubs, automated umbrellas, exponentially expanding TVs and more. Read More
Canada Sees Rush of End-of-Year Purchases Ahead of New Mortgage Rules
Homes sales across Canada were up 4.5% in December, ahead of new mortgage regulations that went into effect on Jan. 1. The Canadian Real Estate Association also reported that 3.3% more homes were on the market in November and December. The new rules require a greater burden of proof from hopeful buyers with uninsured mortgage.
London’s Price Growth Bested By Fellow U.K. Cities
London’s real estate price growth has been outpaced by other cities, including those within the United Kingdom, according to a ranking produced by Knight Frank that placed the English capital at No. 96 with 2.9% growth in the year to September. Nearby locations like Nottingham, with 9.5% growth; Edinburgh, with 8.9%; and Birmingham, 7.1%; all significantly surpassed London.
Lindsey Buckingham Relists Los Angeles Home for $22.5 Million
Fleetwood Mac member Lindsey Buckingham has relisted his Brentwood, Los Angeles, home for the same price he asked last year—$22.5 million. Mr. Buckingham bought the property in 2012 for $5.8 million and had a new building constructed on it. The so-called “modern Georgian” estate on a 0.8-acre lot was originally put on the market in June 2017, was taken off and returned to the market last week.
New Housing Construction in Dubai Could Exceed Demand
The large number of housing units expected to be introduced into Dubai by 2020 could result in oversupply. A report has suggested that as many as 570,000 new units could be built in the coming years, which would represent an annual average increase of 8%. Dubai’s population growth is 3% annually. If the number of units introduced is larger than the appetite, it’s likely that many will be left empty.
AROUND NEWS CORP
China’s Hot Housing Market Begins to Cool [The Wall Street Journal]
Beware of Landlords Offering Freebies and Discounts to Get You to Sign [MarketWatch]
The Price Is Right: a Guide to Valuation [The Times of London]
Houses We Worship: We Give Praise to 10 Former Churches Currently for Sale [realtor.com]