But the overall picture is “one of a less buoyant market both in terms of price growth and number of sales agreed,” Rightmove found. Read More
BY THE NUMBERS
LISTING OF THE DAY
A Rolls-Royce is being sold with the property—for $125,000 extra. Read More
Smart devices to add automation and atmosphere to your pool. Read More
Portugal Sees Rising Prices
A lack of supply is expected to cause price increase to continue in Portugal. Sales have been rising but it’s likely that they will slow as supply issues become more severe. Experts expect that prices might dip slightly in the next quarter but they anticipate 5% price growth for the year overall. Among the country’s cities, Porto’s market is the strongest but it’s expected that there will be similar growth in other regions, Lisbon and the Algarve among them.
Longer Visas Likely to Increase Foreign Sales in UAE
With the UAE government making changes to allow for lengthened residence visas and full foreign ownership of companies, it’s expected that the local real estate market will see an increase in sales from expatriates who may have once rented. UAE sees a significant amount of its property sales coming from foreign nationals who spent Dh56 billion (US$15.25 billion) on homes in Dubai in 2017. India, whose citizens spent Dh15.6 billion (US$4.25 billion), Great Britain and Pakistan were the most represented nations.
Tyra Banks Lists $9.25 Million Los Angeles Investment Home
Tyra Banks has listed a Pacific Palisades home for $9.25 million. The half-acre property features a three-story, five-bedroom house that’s over 6,100 square feet and includes views of both the mountains and ocean, a media room, four fireplaces, a terrace dining area and an ocean-view lounge located off of the master suite. Ms. Banks purchased the home as an investment property in 2016 for $7.35 million. Earlier this year she bought a different $6.995 million Pacific Palisades house and sold yet another.
California Sees an Ups and Down Spring
California has seen up and downs in the spring selling season, with sales decreasing while prices increased. Data from the California Association of Realtors showed sales down 1.7% in April month on month and down 2.2% year on year. March was the first month of declining sales in three months. The statewide median price was up 3.5% for April over the previous month and 8.6% over the year prior.
AROUND NEWS CORP
The Marrakesh Neighborhood the Jet-Set Call Home [The Wall Street Journal]
Why the American Dream of Owning a Big Home Is Way Overrated, in One Chart [MarketWatch]
Beyoncé Buys Church in New Orleans [New York Post]
What Is a Pergola? Fall in Love With Your Yard Again Thanks to This Structure [realtor.com]