Manhattan Had Its Fifth Consecutive Year of Price Increases
Median sales prices reached a record $1.14 million last year. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Full-Floor SoHo Loft With an Impressive Outdoor Terrace
There’s even an al fresco kitchen. Read More
TAX TALK
What Kind of Property Taxes Can I Expect for a Toronto Condo?
The city’s rate is higher than many other Canadian cities. Read More
NEWS BITES
Brooklyn, New York, Real Estate Market Prepares for L Train Shutdown A 15-month shutdown of New York City’s L train, which 225,000 commuters take between Brooklyn and Manhattan each day, has many wondering how Brooklyn real estate might be impacted. Northwest Brooklyn, which includes pricey Williamsburg, where residents are largely reliant on the L, does not seem to be experiencing a hit, with the 2017’s fourth quarter median price nearly reaching $1 million, down only 7% from a year prior. New York Post
Former Beverly Hills Home of Rob Reiner Sells for $3.925 Million A Beverly Hills home once belonging to actor/director Rob Reiner sold for $3.925 million in December. The 2,701-square-foot three-bedroom carriage house, which was built in 1938, was most recently listed for $4.55 million. It features one acre of land, a guest house, swimming pool, spa and observation deck. Mr. Reiner purchased the home for $777,500 in 1988 and sold it 10 years later for $1.94 million. Los Angeles Times
U.S. Market To Be Hindered By Tax Laws, Supply Issues Low supply levels have the American real estate market starting off 2018 on a slow note. It’s the limited supply that has helped raise prices by 5% for six years in a row. Experts are expecting growth in sales and prices to be limited by the new tax laws, slowing down activity at the highest prices. In December, pending home sales were up 0.5%. PropertyWire
Hong Kong Prices Rise Once Again December saw Hong Kong secondary home prices rise for the 21st month in a row, the longest period of increases since 1993. Prices were up 1.4% for the month after a 1.22% increase in November. Small flats did the best, with prices up by 1.54%. The increasing unaffordability of property in Hong Kong, fueled by strong demand and low supply, has made smaller, less expensive units more popular. South China Morning Post
AROUND NEWS CORP
Estate Sales Are Cool Again [The Wall Street Journal]
Aziz Ansari’s Secret Tribeca Apartment Revealed [New York Post]
Construction Spending Climbs for Fifth Month to Record [MarketWatch]
Home Sellers Are Really Cashing In These Days, Report Finds[realtor.com]