Mansion Global

Mansion Global Daily: Slowing Sales Price Growth in the U.K., Strengthening Côte D’Azur Demand and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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Sales Price Growth in U.K.’s Largest Cities Beginning to Slow

The Midlands, the North, Scotland and Wales continue to be the strongest price performers in the U.K. Read More

BY THE NUMBERS

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NEWS BITES

Miami Beach Mansion by Reinaldo Borges Is Asking $38 Million A 10,754-square-foot home on Miami Beach’s Hibiscus Island has come on the market at an asking price of $38 million. The five-bedroom home, built in 2016, was designed by architect Reinaldo Borges and has an open plan design that sees the entire first floor open up to the outdoors. Amenities include an elevator, home theater, infinity pool, and private dock. Curbed Miami

Demand Is Strengthening in the Côte D’Azur Property Market A new report fromSavills World Research indicates that France’s Côte D’Azur continues to be a popular locale for high-end international buyers, with improving market conditions now making it even more enticing for this demographic. France’s improved economy as well as international demand for European properties are both fueling demand in the area. However, supply for prime properties is still high, making it a buyer’s market. PropertyWire

Chinese Investment in Australian Property Has Taken a Steep Drop New market restrictions have cut Chinese investment in Australia’s property market nearly in half over the past year, according to new numbers from Australia’s Foreign Investment Review Board. In the year through June 30, 2017, $29.2 billion worth of investment proposals from Chinese investors were approved, compared to $35.7 billion the previous year. The introduction of application fees for investors is thought to be one of the primary factors behind the decline. Financial Times

Chinese Buyers Put Down a 5 Million Yuan Deposit for a Chance to Buy a Shenzhen Apartment A property developer in Shenzhen has required potential buyers to put down deposits of 5 million yuan (US$778,990.40) just to enter the lottery to purchase one of 167 units in their new project. The fee, for Shuangzi Garden Phase Three, is refundable, and did not dissuade 881 interested buyers from submitting applications. Prices for flats in the development range from 16.73 million yuan (US$2.61 million) to 65.59 million yuan (US$10.22 million). South China Morning Post

AROUND NEWS CORP

Ben Affleck Lists Private Georgia Compound for $8.9 Million [The Wall Street Journal]

U.S. Taxpayers Need Stronger Protection From the Next Housing Crash [MarketWatch]

America’s New Dream Home Doesn’t Have a White Picket Fence [New York Post]

Follow in the Blessed Steps of Beyonce, and Buy One of These 11 Churches for Sale [realtor.com]