Pros and cons exist at the beginning, middle and end of every project’s sales cycle. Read More
BY THE NUMBERS
LISTING OF THE DAY
Ultra-modern minimalism meets old English charm at this newly renovated, five-floor home. Read More
Pacific Heights is popular among tech and finance titans. Read More
Spain’s Sales Market Expected to Continue Growth into 2018
Barring any major economic shakeups, Spain’s property sales and prices are expected to continue rising in 2018, according to real estate provider Anticipa, which forecasts a 9.3% rise in sales next year. The company also expects prices to increase by 6.9% by the end of 2017, and to rise 6.1% in 2018. Building completions are expected to rise from 62,900 this year to 63,400 in 2019.
Late Univision CEO’s 70-Acre Developable Land Portfolio Is for Sale in Malibu
A massive portfolio of developable land is for sale in Malibu, part of the ongoing sale of the estate of late entertainment mogul Jerry Perenchio, whose Bel Air mansion is currently the most expensive listing in Los Angeles at $350 million. Perenchio purchased 70 acres worth of Malibu land 30 years ago that includes a 19-acre lot primed for commercial development, a 3.5-acre residential parcel, 4.4 acres above the Malibu Colony neighborhood, and around 25 acres of residential land near Trancas Canyon. The properties are being sold as a package deal and are expected to net around $150 million.
Real Estate Investor Halts Plans for Micro-Unit Development in Palm Beach
Billionaire real estate investor Jeff Greene has walked back a plan to build Palm Beach’s first micro-unit development after reassessing the costs involved. “I was really excited after seeing a show about them in New York City, thinking this is the way to affordable housing,” Mr. Greene said. The project would have included 348 apartments in a downtown West Palm building, with an enticing amenities package that Mr. Greene now says would have “cost a fortune.”
Shanghai Developer Betting on Co-Living Spaces in Hong Kong
Shanghai’s Future Land Development is moving into the world of co-living spaces in Hong Kong, announcing this week that it has invested HK$500-HK$600 million (US$64 million-US$76.9 million) in two residential and commercial projects, with plans to turn the former into co-living spaces. With increasing demand for smaller, more affordable units, Kenny Chan, the company’s secretary and executive director, said the company expects yields of up to 9% per year for the project.
AROUND NEWS CORP
Palm Beach Mansion Asks $105 Million [The Wall Street Journal]
What the Rate Rise Means for Prices [The Times of London]
Media Mogul’s Former Manhattan Penthouse Goes on the Market [New York Post]
What Is a Real Estate Broker vs. a Real Estate Agent (and Which Should You Hire)? [Realtor.com]