German cities are bucking the trend of a slowdown in residential housing markets worldwide, with Berlin posting a 20.5% price growth, putting it on top of the list of 150 global cities in 2017, according to a Knight Frank report Tuesday. Read More
BY THE NUMBERS
LISTING OF THE DAY
The historic Mediterranean revival-style mansion in Los Angeles’s Fremont Place community has been home to King G. Gillette, son of the razor baron; John J. Cantwell, the first archbishop of Los Angeles; James Francis McIntyre, when he served as cardinal; and Patricia Barham, one of the first women to report on the Korean war. Read More
No room in the smart home inspires more innovation than the kitchen. We’ve gathered some of the latest advancements in culinary equipment—fit for both amateur and advanced chefs alike. Read More
Los Angeles Home Once Belonging to Frank Capra Sells for $1.54 Million
The former home of Oscar-winning director Frank Capra has sold for $1.54 million. The Hollywood Hills four-bedroom, five-bathroom was built for Capra in 1925 and retains its Spanish Revival details. Details include a wet bar, maid’s quarter with a separate entrance, arched doors and windows and wood-beamed ceilings. The home was last sold for $42,000 in 1972.
Australia Needs 230,000 New Homes a Year
Addressing Australia’s issues of affordability will require the introduction of 230,000 homes yearly over the next 30 years. A report from the Housing Industry Association shows that there has been an undersupply of housing in the country dating back 15 years. Other research shows that sales for new construction detached homes fell in both February and January though New South Wales saw increased sales of 11.7% in February. The greatest drop was in Queensland, which had a decline of 16.3%.
Home Prices Up in Las Vegas
Las Vegas saw increased home prices in March, with the average price of a resale single-family home up 1.8% for the month and 15.7% for the year to $280,000. Condos and townhomes hit a median price of $160,000, which marked a 30.1% increase from March of 2017. Those in the industry are attributing the bumps, in some degree, to the lack of supply on the market. In the end of March, the number of single-family homes for sale without an offer was 3,835, down 30.1% from the year prior.
U.S. Real Estate Agents Report Increase in Traffic for March
Buyer traffic across the U.S. spiked in March, according to data from a Credit Suisse survey of real estate agents. Many saw the fact that mortgage rates stand to increase as a motivator for buyers, while a trend in moves across the country was also a factor. Brokers also cite a lack of supply as both increasing demand and making it difficult for many to land sales.
Dubai Developers Offer Perks to Increase Off-Plan Sales
Developers in Dubai are continuing to look to new incentives to encourage buyers to opt for off-plan purchases. At the Dubai Property Festival, which opened on Monday, attendees were offered double-digit price decreases on certain properties. Other perks have included covering the fees associated with the Dubai Land Department registration and cutting out agency fees. Many are looking to longer post-handover payment plans to entice buyers as well as dropping prices to combat dropping sales numbers.
AROUND NEWS CORP
Filmmaker Vincent Gallo Selling L.A. Condo—With Hopes of Giant Profit [Realtor.com]
Competition Motivates Home Improvement, Survey Finds [foxnews.com]
Guitarist Lists Pebble Beach, California, Mansion for $40 Million [The Wall Street Journal]
Women Now Dominate the Real Estate Industry [realestate.com.au]
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