Discounts on the Rise in Manhattan’s Luxury Market

Between Jan. 1 and May 31 of this year, 58.6% of luxury homes sold in Manhattan—defined as those priced at $4 million and over— were discounted between hitting the market and closing, according to data compiled for Mansion Global by StreetEasy. Read More
BY THE NUMBERS 

TRENDING TODAY 

LISTING OF THE DAY 

A Historic Home on a Classic Central London Street

This Grade II-listed white-stucco-fronted property, comes with a storied past. Originally called Brompton Crescent, Egerton Crescent was renamed in 1896 in honor of Francis Egerton, the 3rd Duke of Bridgewater. Read More

THE INSIDERS 

Outdoor Space is the Key to Luxury, Says Architect Eran Chen

Architect Eran Chen is the founding principal of ODA, a New York-based firm he began in 2007, which is responsible for residential buildings, cultural buildings, hotels and more. Read More

NEWS BITES 

Alice Cooper Selling $1.29 Million Home in Los Angeles’ Echo Park
Rocker Alice Cooper is selling a two-unit, Spanish-style 1920s home in Los Angeles’ Echo Park neighborhood, for an asking price of $1.299 million. Cooper initially bought the property for $700,000 in 2006 and has since given it a full renovation. One unit in the home is a two-bedroom, two-bathroom, while the other is a one-bedroom. Los Angeles Times

Home in Australia’s Glenhaven Sells for $2.3 Million, the Highest Price This Year
A home in Glenhaven, a suburb of Sydney, Australia, has sold for $3.15 million (US$2.29 million), marking the highest sales price in the area so far this year. The listing includes a cinema room, swimming pool, and “district views.” The previous record price for the area was $2.06 million (US$1.89 million) for a nearby home in 2015. News.com.au

Britain Sees Highest Rate of First-Time Buyers in 10 Years
First-time buyers now account for 51% of home sales in the U.K., a 10-year high and a 21% increase from their levels in 2008, according to data from Halifax. First time buyers now pay an average price of £208,741 (US$266,072). The average age of a first-time U.K. buyer has risen from 29 to 31 in the past decade, and the average down payment is now £33,127 (US$42,225), a 71% increase from 2008. PropertyWire

Xian Property Market Is Booming in Spite of Chinese Government’s Curbing Measure
While Beijing continues its efforts to control spiraling home prices in China, some local governments are finding ways around the restrictions. Xian, for instance, dramatically eased the requirements for citizens to gain permits to buy in the local market and has since seen its population rise by 800,000 since March of last year. As of June, the city’s average home price was 101% higher than the previous year. South China Morning Post

AROUND NEWS CORP 


Anthony Bourdain’s NYC Apartment Available for Rent [New York Post]

‘Saturday Night Fever’ House in N.Y. Boogies Back Onto the Market With a Price Cut [Realtor.com]

How to Copy Hotel Interior Design Trends at Home [Times of London]

Brisbane Couple Turn Hawthorne Ugly Duckling into a Swan [realestate.com.au]

 



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