The Mortgage Bankers Association reported today that the “average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) increased to 4.06 percent from 4.04 percent.” Read the full report. [MBA] We all know that luxury real estate in London is going absolutely gangbusters. But a rising tide lifts all ships and the capital’s good fortunes with prime property sales are extending to other areas of England, and beyond. The Telegraph breaks down which British regions are benefitting from increased prestige property transactions. [The Telegraph] When you think real estate splendor, think…South Florida. A study from Redfin looking at the “average sales price of the top 5 percent of most expensive homes” nationwide found that the South Florida cities of Coral Gables, Palm Beach and Miami Beach ranked third, fourth and sixth respectively. [South Florida Business Journal] Luxury languishes in Lebanon. Over 271 apartments representing US$480 million of property remained unsold in 2014 in the nation’s capital where developers find that “there is currently little appetite for luxury apartments with a price tag of more than $1 million as most buyers are instead choosing two- to three-bedroom apartments outside Beirut.” [albawaba] Yesterday, we directed you to a guide on how to buy luxury in India, but what about where to buy? Never fear. The Economic Times once again has you covered with their rundown of the top 20 residential neighborhoods in India. [The Economic Times] Record-breaking in the Back Bay. A 3,222-square-foot, two-bedroom, two-and-a-half-bath condo at the Mandarin Oriental in Boston has sold for $12.5 million (“a stratospheric $3,880 per square foot”), making it one of the most expensive condo purchases and the most expensive price-per-square-foot purchase in the city’s history. [Boston.com] There’s no place like home, Non-Resident Indians. We’ve told you about high-net-worth Indians' penchant for purchasing abroad, but a combination of factors, including the stabilization of property prices and a falling Rupee, have developers encouraging NRIs to invest in India. [Emirates 24/7] Have an update for Mansion Global? Write to us at info@mansionglobal.com
Read More: - The Privileges of a Private Port- How To Buy Beachfront in Mexico- Orange County Nears Peak Prices