Luxury Buyers Prioritize Security in Global Purchases
Everyone in luxury real estate knows that buyers prioritize and expect different features in their second, third and fourth international properties depending on where they’re from and why they’re investing. Read More
BY THE NUMBERS
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LISTING OF THE DAY
A Waterfront Villa on One of Mexico’s Best Beaches
Nestled in the protective cove of Chileno Bay, the property includes a three-tiered infinity swimming pool with an oceanfront hot tub and fire pits. Read More
NEIGHBORHOOD NOTES
Stockholm’s Most Fashionable Neighborhood Offers Architectural Gems
Ideally situated in central Stockholm, Östermalm is not only one of the city’s most densely populated neighborhoods, but also one of its wealthiest. Read More
NEWS BITES
Agents Say London’s Property Market is the Weakest It’s Been Since 2008 Fifty-six percent of real estate agents said they had observed a decline in London home prices, per the latest survey from the Royal Institution of Chartered Surveyors, the highest number of negative responses since 2008. Respondents also expected prices in the capital to continue falling for the next year, though sentiment for the rest of the U.K.’s market was more positive, with agents predicting growth in Northern Ireland, the North West, Scotland, and the South West. City A.M.
Silicon Valley Home Hits Market for $1.6 Million—And a Major Catch If you buy one particular $1.6 million home on the market in Mountain View, California, you’ll have an easy commute to the offices for Google and LinkedIn. But it’ll have to wait a bit, as the house is being sold on the condition that the current occupant can stay for seven years. While this may be an opportunity to get into the Silicon Valley real estate market at a (relatively) low price, it’s also a sign of just how competitive the market is in the tech-heavy Northern California towns. NBC Bay Area
Miami Real Estate Remains Resilient After Irma As Florida picks up the pieces following Hurricane Irma, Miami developers and brokers say the city’s real estate was largely spared from any major damage, in spite of flooding, and two constructions cranes that fell during the storm. "If you look at new construction, it withstood the storm very well," said real estate attorney Suzanne Amaducci, though Moody’s estimates a total of $64 billion and $92 billion in storm-related property damage across Florida. The Real Deal Miami
August Home Sales in Norway Dropped 33% From the Previous Year Sales of homes in Norway fell 33% year-over-year in August, according to data from Norwegian Home Builders’ Association, while housing starts dropped 4%. Sales in July fell 43% year-over-year, and housing starts fell 108%, while year-to-date, sales have fallen 18%, but housing starts are up 8%. Reuters
Foreign Buyers Account for Just 5.6% of Toronto Transactions After New Taxes The number of sales to foreign buyers continues to decrease in Canada’s Great Golden Horseshoe area—which includes Ontario and Toronto—after a 15% tax on non-citizen purchases was imposed in April. Between late April and late May, around 4.7% of properties in the region were bought by foreign buyers, and between late May and late August, that number dropped to 3.2%. The York Region had the highest rate of foreign buyers in that three-month period, at 6.9%, and in Toronto 5.6% of sales were to foreign buyers, compared to 7.2% in the previous three-month period. BNN
Foreign Investors are Eager to Buy U.K. Property While the Sterling is Weak With plunging sterling values in the wake of Brexit, foreign investors in the U.K. have the opportunity to pick up property for a significant bargain, according to research from Homegrown, with Russian and South African investors now having an effective discount of 21%. Brazilian buyers could net a 17% discount, while Chinese investors face a 13% discount, and investors from India are looking at a 15% discount. PropertyWire
AROUND NEWS CORP
Retiring and Want to Stay in Your Home? Here Are Your Options [MarketWatch]
Director Michael Bay’s Former Bel-Air Home Seeks $45 Million [The Wall Street Journal]
'It's Been Months and My Home Won't Sell'—How to Revive a Stale Listing [Realtor.com]
De Blasio Slams Critics Who Killed Billionaire's $100M Hudson Park Project [New York Post]