Vietnam: The Next Frontier in Asia’s Luxury Real Estate Market
Coastal cities, wealth growth lead surge in new developments, price increases. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
An English Contemporary Country House Neighboring a Wildlife Habitat
The Farley Green house has miles of walking and horseback riding on its doorstep, while being 42 miles from London. Read More
THE INSIDERS
Manhattan Agent Says a Great Neighborhood Appeals to More than Two Demos
Darren Sukenik says a visceral reaction to any prospective home is key. Read More
NEWS BITES
Developers Go Small in Hong Kong as New Taxes Threaten Projects Hong Kong residents will have to do more with less, as developers look to build smaller apartments to keep sales strong, according to JLL's mid-year 2018 Hong Kong property forecast. Although housing prices are estimated to increase 7% for the second half of the year, the report predicts growth will slow because of the government’s newly introduced vacancy tax and restrictions on pre-sales in new builds. To protect sales, developers are likely to build more units that are smaller and relatively affordable. New flats in Hong Kong are already 40% smaller than they were six year ago, from 1,022 square feet in 2013 to 600 square feet today, according to JLL. World Property Journal
Housing Prices in Abu Dhabi Set to Decline as More Units are Delivered Prices for both home sales and rentals are predicted to continue to decline in Abu Dhabi this year, according to a report from Chestertons, a London-based real estate brokerage. The issue is supply and demand, the report said, as a three-year slump in oil prices has brought fewer people to the area. An additional 6,000 units are due to come to market this year, according to the report, and investors have been slower to bite. The National
Miami Condo Towers Sued for Allegedly Causing Damage to Nearby Buildings Three Miami condominium projects in the city’s Brickell neighborhood are being sued for allegedly damaging other buildings in the area. Construction on the three towers—Panorama Tower, 1010 Brickell and the Bond—caused damage to the neighboring property at 1050 and 1060 Brickell Avenue, the suit alleges. A number of developers and builders are named in the suit, which also claims residents complained about debris, cement and paint splatter, and that both the roof and cooling towers needed significant repairs because of construction-related dust and debris. The Real Deal
Sales of Homes in New Builds in Singapore See 40% Drop New residential projects in Singapore saw more than 40% fewer sales sold by developers last month than the one before according to a survey by the Urban Redevelopment Authority, a local government agency. Developers sold 654 private residential units in June, which was a 41.7% decrease from the previous month and a 20.2% year-over-year decrease, according to the survey. More than half of those sales were outside of the city, in suburbs or other areas. The survey also estimates that yearly home sales are significantly down so far this year, with only 4,090 private homes and 1,046 executive condominiums sold so far in 2018 compared to 6,039 homes and 2,026 EC units sold in the first half of 2017. The Business Times
AROUND NEWS CORP
No Visa, No Worries: Roman Abramovich Buys £30M Pad [The Times of London]
More People Are Tapping Equity—and Other Real Estate Trends [MarketWatch]
Caitlyn Jenner’s ‘Getaway’ House Hits the Market for $8M [New York Post]
The Pros and Cons of Metal Roofing [realtor.com]