San Francisco’s Surging Market Shows No Signs of Slowing Down, Bubble Bursting
And while the city also enjoys a booming jobs environment, it’s against the backdrop of a volatile stock market, so a question naturally begs to be answered: Is the Golden City’s housing market at risk of blowing up? Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Rural Castle in the Scottish Countryside—Just Outside Edinburgh
Situated on acres of idyllic Scottish land just under 12 miles from Edinburgh, the castle has a towering stone facade, dramatic gable-peaked roof and whimsical weather-vane-topped turret. Read More
THE INSIDERS
‘It Has to Look Expensive,’ Says Celebrity Designer Ryan Korban
Ryan Korban, a designer who’s worked on high-end apparel stores like Balenciaga and Alexander Wang, and private homes of people like Kanye West and Jessica Stam, is currently working on his first ground-up building. Read More
NEWS BITES
Chinese Home Prices Rose 0.2% in the First Two Months of the Year New home prices in China rose 0.2% between January and February, slowing down from 0.3% growth the previous month. However, year-over-year, February prices were up 5.2%, compared to a 5% annual increase in January. Price growth in major cities has slowed in recent months in response to government curbs on the nation’s housing market. Reuters
Luxembourg’s Red Light District Newly Popular for London Bankers Fleeing Brexit Luxembourg property is already growing more expensive in anticipation of financiers relocating due to Brexit, causing demand to spread to once-off-limit areas, including the city’s red light district. Luxury developments are now rising in the neighborhood, including one new project featuring 150 flats, with prices between €566,814 (US$697,317) and €869,734 (US$1.07 million) for two and three bedrooms. Bloomberg
South Korea Mulls New Tax to Reign In Booming Property Prices A special South Korean tax committee is expected to discuss policy changes including a possible increase in property taxes at an upcoming meeting. The current administration has said it’s wary of throwing "tax bombs" at homeowners, but South Korea’s ratio of property tax to Gross Domestic Product is currently lower than other members of the Organisation for Economic Cooperation and Development. Home prices in South Korea have increased by 12.5% between July and February. South China Morning Post
Matt Damon Rents Byron Bay Property That Recently Listed for A$4 Million Matt Damon has reportedly rented a Byron Bay, Australia, home that recently was rented by Liam Hemsworth and Miley Cyrus, but the house is also listed for sale at a guide of A$4 million (US$770,000). The five-bedroom home includes an infinity pool, cabana, "equestrian facilities" and 58 hectares of bushland located on a separate lot. The owners first listed the home for sale for A$3.8 million (US$2.9 million) in February and have since raised the asking price. Domain
Strong Demand Keeps Berlin Home Prices Trending Upward Berlin home prices have increased by an average of 12.7% per square meter in the past year, according to agency First Citiz, with demand bolstered by the city’s growing population and the generally strong German economy. Companies are also relocating offices and staffers in anticipation of Brexit, with tech companies moving in as well. Berlin’s cost of living is still relatively affordable for international buyers. Financial Times
Prices for First-Time U.K. Buyers Have Hit a Record High The average asking price for a newly listed U.K. property increased 1.5% in February, and year-over-year, asking prices have increased 2.1%, according to Rightmove. Listings with two or fewer bedrooms—so-called first-time buyer properties—have hit a record high, with an average price of £189,840 (US$266,763). Lack of supply is pushing prices higher, and 5% fewer properties have come on the market compared to the same period last year. PropertyWire
AROUND NEWS CORP
Magnificent Mansion in Bar Harbor, Maine, Lands on Market for $4.5M [Realtor.com]
The Next Housing Crisis: A Historic Shortage of New Homes [The Wall Street Journal]
My Father Is Moving to a Retirement Community—Do We Sell or Rent His $1.8 Million Home? [MarketWatch]
Converted Fitzroy Cinema Stars on Property Market [www.realestate.com.au]
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