If you’re buying luxury real estate in Dubai, chances are you’re not Emirati. According to a report by Christie’s International Real Estate, 75% of prime properties in Dubai are purchased by high-net worth foreigners. [Gulf News] Speaking of the UAE, one Dubai-based developer is bold enough to ask: Are you living in luxury if you’re not living in a crystal? Tebyan recently unveiled its shimmering designs for the “Sparkle Towers at Dubai Marina – Space Marveled by Swarovski” at Cityscape Qatar 2015. Located at the Dubai Marina, the shining residence will “consist of two towers: the first (ground +29 floors) offers views of Dubai Marina from three sides while the second (ground + 14 floors) overlooks Jumeirah Beach Residence with partial views of the marina and the sea.” [Trade Arabia] A rising tide lifts all ships. We told you about L.A. and we told you about San Fran, but it looks like the trend is state-wide, as a recent report from the California Association of Realtors notes that home sales and prices for the Golden State have increased for the third straight month. [World Property Journal] Be careful what you wish for, Britain-minded buyers! The Conservative victory, which signaled the death of the mansion tax and unleashed a rush of prime property purchases, has had the knock-on effect of strengthening the sterling, thus raising the rates for the foreign investors looking to enter London’s luxury market. [The Telegraph] We can officially call it a trend. For the eighth straight month, the price of new homes in China fell. In April, “The average price in China's 70 major cities fell 6.1% from a year ago - the same rate of decline as in March.” Beijing and Shanghai were the lone bright spots with the former posting a rise for the second consecutive month and the latter showing an increase in prices for the first time in a year. [BBC] The Miami Herald polled 105 top local real estate agents about the state of the Magic City’s market and received…well, a diverse set of opinions, but there were a few things on which the realtors appeared unanimous: the luxury condo supply appears to be meeting demand, financial/political instability is curbing purchases by foreign buyers, and domestic out-of-owners will need to fill the gaps. [Miami Herald] Stop us if you’ve heard this one before: a new deal in Manhattan could potentially be the largest real estate purchase in Big Apple history. “SL Green Realty Corp. has agreed to pay $2.6 billion for the 2.3 million square-foot Art Deco skyscraper overlooking Madison Square Park being sold by the Sapir Organization and minority partner CIM Group, The Post has learned.” [New York Post] Qataris love London. The Qatari ruling family has purchased a 10,000 square foot, six-story Victorian mansion in Mayfair for $62.6 million, adding to their already substantial stable of Mayfair-based mansions. [The Evening Standard]See the full Dubai listing (pictured)