Increased demand and limited housing stock all but ensure a thriving market. Read More
BY THE NUMBERS
LISTING OF THE DAY
Spanning 3,850-square-feet, the home provides front row seats to its scenic surroundings. Read More
The neighborhood in Lebanon’s capital was completely rebuilt in the late 1990s. Read More
British Columbia Prices Still Rising Even as Sales Activity Plunges
In March, 7,409 homes were sold in British Columbia, Canada, a 24.6% decline compared to March 2017. However, prices still rose 5.3% in the same period, according to the B.C. Real Estate Association. The group points to new mortgage qualifications as a cause for the slowdown in activity and predicts that the trend will continue in the near future.
Sold Homes in Toronto Lost $135 Million in Value in 2017
Toronto’s price declines in 2017 led nearly 1,000 households to lose around C$135 million (US$107 million) in value, causing deals to stall and some owners to end up selling at a loss. The report from Realosophy Realty shows that 988 households were specifically affected, including 866 that didn’t close after initial sale, eventually transacting for an average of C$140,200 (US$111,397) below the initial sales price.
China’s Biggest Developer Pushes Managers to Speed Up ‘Slow’ Sales
As it braces for a potentially cooler market, Country Garden Holdings Co. is pushing employees to speed up sales in new developments, telling them that turnover is “too slow.” The company will now fire the heads of projects where sales start more than seven months after the land purchase. Nationwide, the government is cracking down on speculation and developer debt, while sales are expected to decline over the course of the year.
Drummer Max Weinberg Sells Palm Beach, Florida, Home at a Loss
Bruce Springsteen drummer Max Weinberg has sold his Palm Beach, Florida, home for $6.78 million after purchasing the property for $7.5 million in 2016. The 6,500-square-foot, five-bedroom house includes a master suite with a balcony, a pool and spa, and loggias in the backyard. Mr. Weinberg first put it back on the market for an asking price of $7.7 million.
More English Landlords are Setting Up Shop in Scotland
More landlords from around the U.K. are investing in buy-to-let Scottish Property, according to a new report from SafeDeposits Scotland. Six years ago, 260 English landlords registered deposits on rental properties, while there were 1,388 such registrations in 2017, and registration numbers for 2018 are already up 226% year-over-year. Overall, the number of English landlords registering tenancy deposits has jumped 430% since 2012.
AROUND NEWS CORP
Zillow Intends to Buy and Flip Homes [The Wall Street Journal]
Create the House of Your Dreams [The Times of London]
These Top Architects Are Building the Coolest Cities of the Future [New York Post]
Purple Reign: 7 Pretty Ways to Use This Trendy Color in Your Home Decor [realtor.com]