A surge in wealth in the United States over the past 12 months has stimulated second-home markets in states like Hawaii and Colorado, according to data from Realtor.com. Read More
BY THE NUMBERS
LISTING OF THE DAY
The property on which Otterburn Castle stands can be traced back to William the Conqueror. Read More
The rapid advancement of technology has improved lives immeasurably, from connecting far-flung people across the globe to providing comfort and convenience in everyday activities. We’re taking a look at a few of the stranger tech things that 2017 brought us. Read More
Secondary Market to Rise in Dubai
The coming year will see Dubai’s real estate sales trend toward secondary market sales and away from the off-plan sales that currently dominate with 78% of the market. New building launches, and the perks thrown in with them to draw buyers, have become expensive and will likely slow. With Dubai’s World Expo taking place in 2020, analysts suggest that prospective buyers act now before prices rise.
Hong Kong’s Chief Executive Says House-Price Curbs Aren’t Working
Hong Kong chief executive Carrie Lam said that the government’s measures to cool its housing market—the most expensive in the world—aren’t working. “It’s impossible for the government to curb property prices,” she said in an interview with Radio Television Hong Kong. “Despite the several rounds of cooling measures by the government, prices didn’t drop. Some even suggested that those measures had pushed up prices instead.” In fact, secondary housing prices have increased 14% in the last year.
Buyer Behind Major Hong Kong Sale is Named
The buyer behind a record breaking HK$1.16 (US$148 million) sale has been revealed. The owner of the adjoining apartments, encompassing 8,821-square-feet, at the tony Hong Kong residence No. 8 Mount Nicholson on The Peak, is Lin Zhongmin. Further details on Mr. Lin were unavailable. His two apartments and another Mount Nicholson unit, purchased in November, represent the three most expensive homes in Asia.
Rocker Slash Sells Home to Big Sean
In an off-market deal, Guns N’ Roses guitarist Slash has reportedly sold his Sherman Oaks, California, mansion for $8.7 million to rapper Big Sean. The Mediterranean-style home, built in 2005, has seven bedrooms, six-and-a-half bathrooms and around 11,000 square feet of living space. Slash bought the house eight years ago for $7.3 million, according to records.
AROUND NEWS CORP
These Were New York’s Priciest Real Estate Sales in 2017 [The New York Post]
Why People Will Live in 38sq Meter Lots on the Gold Coast [realestate.com.au]
Tax Law Could Slow Down a Bank Favorite: Jumbo Mortgages [The Wall Street Journal]
Milwaukee Bucks’ Jason Terry Slices Price on Mercer Island Mansion [Realtor.com]
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