432 Park Sells Three $40 Million Penthouses
The neighboring condos sit on the 92nd and 93rd floors. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Western Farmhouse in Montana’s Scenic Bitterroot Valley
The 25,000-square-foot home has its own underground shooting range. Read More
TAX TALK
What Areas of Canada Have the Highest and Lowest Property Tax Rates?
What you end up paying also depends on local property values. Read More
NEWS BITES
California Wildfires Threaten Los Angeles Homes Wildfires in the Los Angeles area are threatening homes in tony neighborhoods like Bel-Air and Mandeville Canyon. The fire, which is expected to affect 150 acres as the winds continue, has warranted both mandatory and voluntary calls for evacuation in an area that includes the estates of figures like Gwyneth Paltrow, Chelsea Handler and Rupert Murdoch, owner of News Corp., which owns Mansion Global. The Hollywood Reporter
Homeowners in Northeast and California Fear Tax Bill’s Impact on Values The Republican tax bill could have significant implications for homeowners in Northeast states, like New York, New Jersey and Connecticut, as well as California. Both home values and inventory are expected to be adversely impacted by changes to deductions, property taxes and mortgage interest, while the plan’s capital-gains tax could have the effect of discouraging owners from selling. The Real Deal
Sales Market in Auckland Picked Up in November Auckland, New Zealand, real estate sales strengthened in November after a weak early fall. The month’s property sales were 9.7% above the prior three months’ average and high-end sales had the best month since May, with 55 homes selling for above $2 million and 262 for above $1 million. Property Wire
New Zealand Owners Take Lower Bid Based on Buyer’s Google Results Sellers of a A$4 million (US$3 million) Brisbane home chose to take a lower offer because the buyer’s volunteerism and support of children’s causes so impressed them. The owners of the riverfront home, which adjoins a sanctuary and features a pool, tennis court and putting green, learned of the buyer’s affinity for good works when they Googled her and they believed she and her large family would be a better fit for the space than interested parties offering higher bids. They ended up taking A$3.675 million (US$2.8 million) for the property. New Zealand Herald
China Looks to Encourage Renting New incentives, like discounted land and subsidized loans, are being used to draw renters to large Chinese cities. As housing affordability continues to be an issue, the lack of rental options has become more apparent and the government is looking to encourage developers to shift their focus. Chinese citizens are likely to be skeptical, however, as home ownership is highly valued throughout the country. The National
Dubai Housing Stock Could Grow By 80,000 in Coming Years Current development plans could lead to the addition of 80,000 homes to Dubai’s current stock within the next three years. Concern that the increase could flood the market was addressed by Faisal Durrani, the head of research at Cluttons, who suggested population growth would be consistent with the new housing. A greater issue, it’s been argued, is the focus on adding luxury homes while affordable housing continues to be needed. Gulf News
AROUND NEWS CORP
Why The Hottest New ’Hood Is In the Wrong Part of Town [The Wall Street Journal]
Insurance Losses From October's Wine Country Wildfires Top $9 Billion [MarketWatch]
Ad Man Infamous for Sex-Filled Campaigns Lists Sleek Penthouse [New York Post]
Self-Driving Cars Will Transform the World as We Know It—Including Where We Live [Realtor.com]