Amenities abound in these soon-to-open residences. Read More
BY THE NUMBERS
LISTING OF THE DAY
The Hammerman House in Los Angeles, with ocean views, was meticulously restored and expanded. Read More
Nick Leach, partner at Athena Advisers, also sees the possibilities in Paris. Read More
Brooklyn Luxury Market Sees Sales Jump
There were 21 contracts signed in Brooklyn for $2 million and more between March 19 and March 25—10 condominiums, 10 houses and one co-op. Sales volume last week was much higher than the prior week, when only eight luxury contracts were signed. The average contract price was for just over $3 million, according to a new report from Stribling & Associates.
Hong Kong Property Sales Made a Strong Showing in February
Hong Kong’s residential sales rose 34% year-over-year in February, and 4% month-to-month, according to Knight Frank. Sales for properties of HK$10 million (US$12.7 million) and up rose 26% month-to-month and 55% for the year. Knight Frank data has showed prices continuing to rise, and specifically, luxury home prices have increased for 20 consecutive months. Secondary sales were also up, rising 68% over the previous year.
Five Chinese Developers Saw Major Profit Boost in 2017
China’s five biggest developers are set to report combined 2017 profits of more than 100 billion yuan (US$15.8 billion). “The same momentum should be seen in 2018 earnings, reflecting the buoyant sales in 2017,” said analyst Alfred Lau. However, analysts and developers are still unsure of how government market-cooling measures will affect profits in the coming year.
Dubai Still Hoping for Expo 2020 to Boost Slumping Property Market
The anticipated “Expo effect” has yet to come to Dubai’s market, which is struggling amid low oil prices and an excess of housing supply, with prices dropping between 5% and 10% in 2017. Standard & Poor has forecast a “three-year downturn” through 2020 but notes that Expo 2020 may also temporarily lift prices.
AROUND NEWS CORP
Renowned Ballerina’s Hamptons Home Listed for $37 Million [The Wall Street Journal]
End of the Affair With a Fixer-Upper [The Times of London]
Property Market Record Broken as Traditional Pre-Easter Lift Surges [news.com.au]
A New Spin on Storage: 8 Clever Uses for the Lazy Susan [realtor.com]