UNITED STATES
Residents of Manhattan’s Sutton Place neighborhood claim they were misled by the Bauhouse Group after the developer proposed a 30-story ultraluxury tower for the area before debuting plans for a 90-story one. [The New York Daily News] Seattle’s growing reputation as Silicon Valley 2.0 is driving property prices in the region skyward. [Bloomberg] San Francisco Assessor-Recorder announced that the city’s property roll value hit $191 billion for the fiscal year 2015-16, up 6.5% from the year prior. [The San Francisco Appeal]More: A Modern Mansion in Miami Beach Hampton towns are moving to enact new zoning laws limiting the size of new homes in particular neighborhoods. [Crain’s New York]
EUROPE
Domain profiles a range of available prime properties located near the 2015 Tour de France route. [Domain] Headlines have not kept Russians out of Greece with the number of luxury Greek villas purchased by Russian buyers doubling in 2015 compared to previous years. [Newsweek]More: What the U.K. Budget Means for Prime Property The New York Times shares an overview of the prime property offerings in everyone’s favorite principality, Monaco. [The New York Times] In this time of crisis, will Greek property sellers turn to Bitcoin as a means of saving their assets? [The CoinTelegraph]
AUSTRALIA
Experts expect more Chinese investment in the relatively safe Australian prestige property market as the collapse of the Chinese sharemarket continues. [Domain] What bubble? Australian house prices are 30% undervalued according to Reserve Bank of Australia senior research manager Peter Tulip. [Sydney Morning Herald]
ASIA
The Myanmar government has halted plans for five real estate projects, including a $300 million luxury condominium that has secured international backers, due to the concerns of Buddhist monks about about the developments proximity to the country’s holiest Buddhist site, the Shwedagon Pagoda. [The Wall Street Journal]
MIDDLE EAST
Real estate firm Core Savills projects that apartment and villa prices in Dubai will continue to soften until 2016 at which point they will stabilize and return to growth later that year or in 2017. [Zawya]
INTERNATIONAL
Despite the Greek debt crisis and China’s stock woes, preliminary data from real estate consultancy Jones Lang Lasalle finds that global property transactions for Q2 2015 totaled $161 billion, unchanged from the same period a year previous. [World Property Journal]More: Architecture and Art Lure Expats to Northeast Mexico
Have an update for Mansion Global? Write to us at info@mansionglobal.com