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UNITED STATES
The Wall Street Journal examined the median sales price for luxury homes listed on streets and avenues numbered between First and Tenth, and found that it pays to live on Fifth. [The Wall Street Journal] The Real Deal crunched the numbers of Manhattan luxury condo purchases between July 2014 and June 2015 and found that 40% of buyers took out mortgages, casting doubts on the anecdotal evidence that that specific sector of real estate is a “all-cash” dominated market. [The Real Deal]More: Cash Sales Continue to Decline in U.S. Take a behind the scenes look at the luxury condo conversion of Manhattan’s iconic Woolworth Building. [The New York Daily News]More: Prices Climb for Office-to-Condo Conversions Bloomberg details how buyers are winning bidding wars without making the best financial offer. [Bloomberg] Texas may be a beneficiary of China’s stock troubles as more and more Chinese buyers view the state’s real estate market at an attractive investment option. [NBC News]More: Luxury Condo Market Heats Up in Houston
EUROPE
Dallas-based private equity fund Lone Star Funds has acquired London developer Quintain for $1.1 billion. Quintain currently plans to build about 5,000 homes in London over the next decade. [Bloomberg] Will the Tour Triangle, a proposed $555 million, 180-meter-tall glass triangle development featuring “office space, luxury accommodations and leisure facilities,” ruin the romance of Paris? [CNN] ETRealty.com attempts to illuminate the puzzling property market that is the London luxury real estate. [ETRealty.com]More: Demand on the Rise in London After Months of Decline
ASIA
Indonesia’s revised foreign property ownership policies may not precipitate a flood of purchases because of the high cost of property transactions in the nation. [South China Morning Post]More: Indonesia to Ease Restrictions on Foreign Ownership
MIDDLE EAST
Chinese investors spent more than $354 million in Dubai’s real estate market last year, representing a 300% increase in investment volume over the previous year. [Trade Arabia]
AUSTRALIA
An award-winning Whitsunday estate, known as the “best beach house in Australia” and featuring 385 meters of beachfront, has hit the market. The property was sold for A$4 million in 2006 and industry experts expect that it could fetch as much as A$10 million at auction. [news.com.au]