After Hurricane Irma, Southern Florida Market Quickly Heads Back to Business
Pre-storm preparations, years in the making, helped reduce the damage. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Magical Castle on the Cliffs of Maine
The historic home offers private oceanfront property and secret gardens. Read More
THE INSIDERS
High-End Home Flipper Xorin Balbes on Finding the Spiritual Side of Real Estate
The Los Angeles-based designer expects more buyers to return to nature. Read More
NEWS BITES
U.K. Home Prices are Up This Month, But Sales are Still Stalled October home prices in the U.K. have so far risen by 1.1% month-to-month and 1.4% year-over-year, according to the Rightmove housing price index. Though this is the highest monthly growth for October prices since 2014, putting average property prices at £313,435 (US$415,735), sales transactions are down 5.9% from the previous year, while the number of homes listed has risen by 3%. City A.M.
As Prices Keep Rising, Ireland Faces a Housing Crisis Though Ireland’s property market has in many ways recovered from its bubble burst 10 years ago, a new housing crisis is unfolding thanks to a combination of low supply and skyrocketing prices. Rents are currently growing by double-digit percentages each year, while sales prices have increased 47% since 2013. Experts don’t foresee another major bubble, but do expect prices to continue climbing for the next two years as the construction industry scrambles to catch up with demand. Yahoo! News
Chinese Become Top Foreign Buyers for a Major Thai Developer Further evidence that the Chinese government’s attempted crackdowns on capital outflow haven’t fully dampened buyers’ eagerness to invest abroad: One of Thailand’s largest property developers reported that buyers from China have become its biggest source of foreign revenue this year, overtaking Hong Kong as the top foreign market. Sansiri Pcl hasn’t seen any cancellations from Chinese buyers, said the company’s Head of International Business, and sales from China are set to double up to US$106 million this year, and rise another 32% to $140 million next year. Due to new limits on how much money Chinese nationals can invest abroad, these buyers are now interested in cheaper property purchases, and most of Sansiri’s Chinese buyers have been purchasing homes between 1 million to 2 million yuan, or US$150,00 to US$300,000. Bloomberg
Developer Completed Five Dubai Projects Worth Dh1 Billion Ahead of Schedule Dubai developer Benghatti announced that it has delivered five projects worth a total of Dh1 billion (US$272 million) ahead of schedule in the UAE, citing a mix of projects that include residential and industrial properties. The company currently has 30 different projects in development around Dubai, which are expected to add 6,000 housing units and retail spaces to the market in total, or around 1,500 to 2,000 units per year. Khaleej Times
AROUND NEWS CORP
The Party Is Just Getting Started in Ibiza [The Times of London]
Your Next Home Could Run on Batteries [The Wall Street Journal]
Bob Weinstein's $18M NYC Townhouse Finds a Buyer [New York Post]
Happy Hunting: 7 Gems That Could Be Hidden Amid the Junk at Estate Sales [Realtor.com]