New tax law has been attracting out-of-state buyers to the southern Florida city. Read More
BY THE NUMBERS
LISTING OF THE DAY
Oscar Wilde and other famous residents once lived nearby the property, which also has its own off-street parking. Read More
It’s about picking the right plants, and creating an outdoor area you’ll want to spend time in. Read More
Prices in Spain’s Menorca Are Rising Due to Tight Supply and Building Regulations
Prices on the Spanish island of Menorca are up 15% in the last two years, according to data from Engel & Volkers. “We have seen the largest price rises with villas and classic country estates in expensive coastal areas,” said managing director Gary Hobson. Lack of supply is thought to be driving prices higher, as well as environmental restrictions on new construction.
Chicago Suburbs Sees Second $12M Sale in Three Weeks
So far in 2018, four homes in the Chicago area have sold for at least $10 million and three of them were in Winnetka, a suburb north of the city. In fact, two homes in the area sold for $12 million in the last three weeks. One was a five-bedroom lakefront mansion which sold on Tuesday. The other, which sold in late April, was a newly built, eight-bedroom lakefront house.
Expats Advised to Buy in Dubai Now Before Rates Increase
Some Dubai property companies are encouraging expats to make the switch from renting to buying while prices and down payments are relatively low, citing a 17% overall price drop in the last 18 months as recorded by a report from property firms dubizzle and JLL. Expo 2020 is expected to have an uplifting effect on the market, which may already be reaching the bottom of its current downcycle. Buyers may also want to lock in low rates ahead of a possible Federal Reserve rate increase later this year.
Canadian Home Sales Hit Their Lowest Point in Five Years
April home sales in Canada fell 13.9% year-over-year, and the average sales price fell 11.3%, down to C$495,000 (US$384,942). However, once the larger declines in the Vancouver and Toronto markets are factored out of the data, the national average price was only down 4.1%, to C$386,100 (US$300,255). The Canadian Real Estate Association blamed new government regulations for the dampening effect on the market.
AROUND NEWS CORP
Ibiza: Spain’s Buoyant Seaside Retreat [The Wall Street Journal]
How ‘Inside Jobs’ Can Sabotage a Home Sale [MarketWatch]
How to Add $1.3M to Your Home’s Value [news.com.au]
Psst…Here’s How to Sell Your Home Before It Officially Hits the Market [realtor.com]