New York ranks No. 1 for wealth, investment, lifestyle, education and future—the five categories explored in Knight Frank’s City Wealth Index. Read More
BY THE NUMBERS
LISTING OF THE DAY
The sale of this stately Federal-style mansion offers a rare opportunity to own a grand private home in Providence’s historic College Hill neighborhood. Read More
It’s hard to think of tropical-style décor without visions of palm fronds dancing in your head. While the island vacation-inspired design is nothing new, it is having a moment—and a big one at that. Read More
Off-Plan Launches Will Continue to Slow in Dubai
Off-plan sales have become an increasingly large part of Dubai’s real estate market in recent years, popular in part due to their comparatively low prices. However, off-plan prices have been rising for the past 18 months, and the price gap between off-plan and ready sales will continue to narrow. As a result, off-plan sales took a steep drop in the fourth quarter of 2017 and have been slow thus far in 2018, a trend that’s expected to continue through the year.
Hong Kong Hotels Convert to Co-Living Spaces to Increase Rental Income
More hotels outside of Hong Kong’s main tourist areas are converting into co-living spaces in response to changes in tourist and worker demand. “Hotels converting to co-living use can become a trend,” said Alvin Leung of JLL. Denying that their conversions were done in response to slowing tourism, the CEO of Mojo Nomad and Ovolo Hotels Group pointed to “the new generation of travellers who live and work in different places.”
London’s Stock of Unsold Properties Is a Growing Source of Worry
As the rest of the U.K. deals with a chronic shortage of housing, London is facing a glut of high-priced apartments that are sitting on the market unsold, per data from Molior London tracking units costing £1,500 (US$2,083) per square foot and up. Construction continues on new luxury units, with 1,900 new apartments started last year and only slightly more than half of those sold. Since 2012, developers have begun work on 44% more homes than they’ve actually sold.
Singapore Luxury Home Prices Rose 22% in January and February
Singapore’s luxury property prices rose 22% year-over-year in the first two months of 2018, while mid-tier prices increased 8%, per data from OrangeTee. The average luxury home price is now S$2,049 (US$1,559) per square foot. Elsewhere, mass market prices dropped 2.4%, down to S$1,117 (US$850) per square foot, during the same period.
AROUND NEWS CORP
Live in Harmony With Nature in the Iconic Hines House at Sea Ranch [Realtor.com]
Billionaire Scion Seeks $58 Million for Unfinished Penthouse [The Wall Street Journal]
Here’s the Cheapest (and Most Expensive) Place to Raise a Family in America [MarketWatch]
Record $39 Million Toorak Mansion Deal Took Just Three Weeks to Complete — Agent [realestate.com.au]
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