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Mansion Global Daily: Manhattan Luxury Sinks, Kylie Jenner Flips, and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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Luxury real estate sales in Manhattan hit a record low.

Luxury real estate sales in Manhattan hit a record low.

Manhattan Luxury Market Continues Its Slump

For the first time in nearly five years, there were no sales over $10 million last week. Read More

BY THE NUMBERS 

TRENDING TODAY 

LISTING OF THE DAY 

A 19th Century Swiss Chateau Uniquely Located On Lake Geneva

Recent modifications and renovations have brought this mansion up to contemporary standards. Read More

THE INSIDERS 

Take Your Time When Searching for Real Estate

To get the most bang for their buck, developer Francis Greenburger suggests looking for desirable locales experiencing down cycles. Read More

NEWS BITES 

Fewer Londoners Moved to New Homes in the First Half of 2017

New data from Lloyds Bank shows a 2% decline in the number of London homeowners who moved to a new property in the first six months of the year, yet another sign of a slow market with limited inventory. "More people are paying off their mortgages and not moving, with supply at historic low levels there could be a shortage of suitable homes coming on the market and the cost of moving house could be putting people off," said Lloyds mortgage products director Andrew Mason. In the first half of 2016, the number of moves spiked 11%. City A.M.

Park West Condo Owners in Singapore Make a Play for a $750 Million Building Sale

Owners in Singapore’s Park West condominium are making their third attempt at a collective sale of the building, after two failed attempts in 2007 and 2011. So far 30% of shareholders have given their signatures—an 80% consensus is required—and the expected sale price is S$750 million (US$551 million), down from an S$803 million (US$590 million) asking price in 2011. The chairman of Park West’s Collective Sales Committee pointed out Park West’s proximity to new transit options, shopping, schools, and a major hospital, saying, "Now we can see that developers are hungry and looking for good sites." Business TimesKylie Jenner Has Sold Her Hidden Hills Mansion

Kylie Jenner appears to have pulled off a successful flip of her Hidden Hills, California, home, having reportedly found a buyer for the property that she purchased in 2016 for $4.5 million, and put back on the market in December for $5.4 million. The ranch-style home comes with more than 5,150 square feet of living space, and features amenities including a wet bar, home theater, swimming pool, and enclosed vineyard. Ms. Jenner initially purchased the property at the age of 17. Curbed Los Angeles

Second and Third Tier Markets Offer the Most Potential for India’s Real Estate Investors

Market strategists are recommending non-resident Indians (NRIs) turn their attention to the country’s Tier 2 and 3 cities, which are as of yet underdeveloped and will likely offer higher returns than Tier 1 options. Devesh Mamtani of Century Financial Brokers in Dubai predicted 10% to 12% returns in these markets, versus a 5% to 8% return in India overall, noting, "Tier 3 properties in places like Nagpur give maximum return and land is always a better deal. There are a lot of Tier 3 small towns where infrastructure is improving." Over 2.6 million NRIs reside in the UAE, and have helped pump billions into India’s property sector. Khaleej Times

AROUND NEWS CORP 

5 Outdoor Shower Ideas for Your Ultimate Backyard Oasis [Realtor.com]

Josip Broz Tito Stayed in This Park Avenue Penthouse [New York Post]

White House Renovations to Be Completed Next Week, Including New Carpets and Curtains [Fox News]

China's Crackdown on Foreign Investments May Make It Harder for First Home Buyers to Get Into the Market [news.com.au]

 

 

 

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