Move over Los Angeles, New York state just got a nine-figure listing to rival the slate of $100 million-plus mega-mansions hitting the market this summer in La La Land. Read More
BY THE NUMBERS
LISTING OF THE DAY
It’s not outside the realm of possibility that this penthouse has the best view of any residential property in London. Read More
What is the inheritance tax for children inheriting in Ireland? Does it depend on the domicile of the deceased or the domicile of the person inheriting? Read More
Over Half of Canadian Millennials Think They Can Afford a Home
Canadians aged 25 to 30 believe buying a home is a good investment, according to the results of the Royal LePage Peak Millennial Survey, released Thursday. Also, 57% think they will be able to afford a home, with 67% responding that they want to purchase one by 2022. Half of the respondents are currently in rentals, indicating that there is a lot of “pent-up” demand for home ownership.
A Decade on From the Credit Crunch, Home Prices Diverge
Although the price of a home in the United Kingdom has risen 18% since 2007, a chart on housing price growth in the U.K. over the past 10 years, based on figures from Savills, reveals huge variations in price growth over that time. London saw an almost 80% rise in growth, followed by the South East, which grew almost 40%. Other areas, such as the North East, are still seeing prices below the 2007 numbers. Some areas even had greater divergence. For example, Hackney, in London, experienced a rise of over 120%.
Equity Rich Homes on Rise in U.S.
By the end of the second quarter of 2017, more than 14 million properties in the U.S. were equity rich, according to ATTOM Data Solutions’ Q2 2017 U.S. Home Equity & Underwater Report, meaning the combined loan amount secured by the property was less than 50% of the market value. This is an increase of 320,000 from the last quarter, and of 1.6 million from 2016. The data indicates that consumers are reaping the benefits of rising home prices by staying conservative with their equity.
First Home in Luxury Modernist Development in Palm Springs Hits Market
The first house of the Linea development, the latest in a series of luxury Palm Springs projects, went on sale Wednesday for $2.75 million. Andrew Adler, the designer, and architect Anthony Poon were inspired by the Bauhaus movement for the four-bedroom, 4,790-square-foot home. The house is white, and features clean lines and glass. The next two homes of the development will be available Aug. 23 and Oct. 1.
AROUND NEWS CORP
Crowdfunded Real-Estate Investments: 3 Ways to Do It [MarketWatch]
A Luxury Real-Estate Proposition [The Wall Street Journal]
Ex-NFLer to List $18.5M Waterfront Miami Mansion [New York Post]
Apocalypse Soon? Nuclear Air Filtration Systems Are So Hot Right Now [Realtor.com]