Paying upfront can ensure peace of mind, convenience and a better negotiation stance. Read More
BY THE NUMBERS
LISTING OF THE DAY
A 2,000-square-foot infinity pool serves as the centerpiece of the home. Read More
In this section of the Southern France city, many former Belle Epoque hotels are now grand apartments. Read More
Germany’s Market Is Not a Bubble But ‘Making Up for Lost Ground,’ Says Developer
Germany’s housing prices have appreciated 60% since 2010, stoking concerns of a bubble. However, in a new interview, developer Michael Zahn points out that the increase follows 20 years of stagnant growth, adding, “We’re now making up for lost ground, but that doesn’t mean the market has peaked.” Udo Cordts-Sanzenbacher of BNP Paribas Real Estate also pointed out that “there’s a huge amount of liquidity in the market, and prices are still relatively low by international standards.”
Hong Kong Developer Plans Record-Setting 123-Square-Foot Micro Apartments
Hong Kong’s trend of skyrocketing prices and shrinking apartments is still going strong, and now developer Wing Kwok Enterprises is planning a project where the smallest unit will be just 123 square feet, a new record for the city. The apartments in the Sham Shui Po neighborhood will be smaller than a standard 20-foot shipping container. Units this small are an especially good deal for developers, due to their higher-than-average prices per square foot.
Dubai Developer Announces Plans for Massive New Community, Complete With Beach
The Majid Al Futtaim Group has announced its first residential project in Dubai, a Dh14 billion (US$3.8 billion) community that will include a total of 6,500 homes in the next decade, as well as a 70,000-square-meter body of water and a two-kilometer beach. Homes in the first phase, to be delivered in 2020, will be priced between Dh6 million and Dh16 million (US$1.6 million and US$4.4 million). Though Dubai’s market has been struggling, the developer cited “core long-term investors” as its target audience.
Toronto Builders Abandon Plans for Pre-Sold Condos as Construction Costs Rise
A number of Toronto developers have abruptly abandoned new condo projects thanks to increasing construction costs, in spite of having pre-sold units to eager buyers. “By rushing to bring units into a hot market, some projects jumped the gun and added risk to the development,” said Shaun Hildebrand of Urbanation Inc. Since the start of 2017, 17 projects with a total of 3,627 units have been canceled in the city.
Historic Shelter Island, New York, Home Asks $160,000 as a Summer Rental
An 1884 Shelter Island, Long Island, estate known as Sunset Hill, which is for sale for $6.95 million, is on the market as a summer rental, asking $160,000 for the entire summer, or $35,000 for June; $65,000 for July; and $80,000 for August. The property, which sits on two acres of waterfront land and has 200 feet of private beachfront, is also available for purchase at an asking price of $6.95 million. The estate was once the summer home of New York Governor Hugh L. Carey.
AROUND NEWS CORP
Virginia Woolf’s Onetime Home Listed for $4.62 Million [The Wall Street Journal]
The Late Arrival of Spring in the Market [The Times of London]
Sports Car-Themed Condos Are Just the Start of Miami’s Wild Real-Estate Trends [New York Post]
What Is French Country Style? 5 Ideas to Try in Your Home [realtor.com]