UNITED STATES:
All is fair in love and property lines. Developers and residents in the high-end communities of Bel Air and Beverly Hills are coming into conflict over the construction of “giga-mansions” - structures over 20,000 square feet in size - with the former finding finding willing buyers and the latter decrying the destruction of their neighborhoods. [ABC News] Pitkin County, Colo., home to Aspen, playground of the affluent, totaled $929.24 million dollars in real estate transactions for the first half of 2015, the highest such total since 2007 when transactions hit $1.43 billion. [The Aspen Times] Jeff Collins of the Orange County Register profiles seven trends of the current U.S. real estate market. [OC Register] The data team at listings site Property Shark has released the 10 most expensive zip codes, based on median sales price for transactions closed between January 2014 and June 2015. Number one? You guessed it: 11962 (Sagaponack, New York). View the full list. [The Real Deal]
BROWSE: Mansion Global's Sagaponack, NY Listings Take a tour of the prime property portfolios of tech billionaires with Business Insider. [Business Insider]
ASIA:
Real estate company Centaline Property Agency reports that sales in Hong Kong climbed 42% year-over-year for the first half of 2015 to HK$89.6 billion (US$11.56 billion) as Chinese investors returned to the city. [ETRealty.com]More: Hong Kong Luxury Sales: Relentless Luxury buyers in Shanghai are eschewing the flashy Tudor and Rococo styles that once ruled the market for a more understated Art Deco style. [The Telegraph] Online marketplace Snapdeal has sold a luxury penthouse in India’s IT hub of Bengaluru for RS 6 crore.(US$948,000). The site, which previously specialized in mobile phone and television deals, recently began incorporating property listings. [Times of India]
CANADA:
The Real Estate Board of Greater Vancouver reports that the average price for single-family detached homes jumped 20% in June year-over-year from $1.2 million to a record-high of $1.4 million (US$948,387 to US$1.1 million). [The Globe and Mail]More: Vancouver’s International Appeal The Globe and Mail profiles the fortunes and future of the second home market in Muskoka, the region known as “Canada’s Hamptons.” [The Globe and Mail]
EUROPE:
Chinese investors have grown enamored with the numerous historic castle properties available throughout Europe but are finding that making such purchases often involves a lengthy legal process. [The Telegraph]
MIDDLE EAST:
Take a tour of M State, the custom-designed villa on Dubai’s Palm Jumeirah island, for which an unnamed British businessman spent a record-setting £12 million (US$18.7 million). [Daily Star]
MEXICO:
Construction group Obrascon Huarte Lain (OHL) has selected the U.S.-based Douglas Elliman to market its Mayakoba Residences, an eco-friendly luxury development in Rivera Maya (“the Mexican Carribean”) which features “white sandy beaches, lagoons and canals and the only PGA-tour golf course in Mexico.” [OPP.Today]View full listing (pictured top)
Have an update for Mansion Global? Write to us at info@mansionglobal.com