Global Update: Shanghai Rising

It seems like every day we see a new story about how interest in the London luxury home market has exploded in the wake of the Conservative Party victory. Today, a new report from real estate consultancy Knight Frank confirms some of that exuberance (“number of viewings and new prospective tenants rose 16.1% and 24.1%, respectively”) but also concludes that the “election result is unlikely to lead to a sudden spike in prices as market still digests stamp duty changes.” Read the full report. [Knight Frank] Happy days in Harrington Park. A five-bedroom home in the Sydney suburb set a new sales record for the residential block when it sold for $1.4 million. “The sale price doubled the median house price for the area, now at $665,000 following an 18.1 per cent jump in the 12 months to February.” [news.com.au] Fancy the farm life? Or rather, the fancy farm life? Dan’s Papers takes a look at the top five affluent farm properties currently on the market in the Hamptons. [Dan’s Papers] Like a phoenix rising from well-adorned ashes, the Shanghai luxury home market is set to soar again. Cheaper loans and a rallying stock market are mitigating the effects of last years’ anti-corruption legislation and have developers “queuing up release premium projects to tap super-rich buyers who are showing faith in the market's prospects.” [South China Morning Post] America is a big place and there is a lot of luxury living out there, but if you want to now what $195 million will get you, Forbes has you covered with their feature on the most expensive homes in the States, so far, in 2015. [Forbes] The facade that launched a thousand petitions. New renderings of the proposed luxury apartments on the Long Island College Hospital campus in Cobble Hill, Brooklyn have residents declaring “This is war!” [Gothamist]