The Case for the Hamptons as a Year-Round Locale
Increasingly, luxury home owners are finding it makes sense to stay on Long Island’s east end once summer is long over. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
An Expansive Villa in a Gated Community in the Heart of Dubai
The 32,000-square-foot home sits at the edge of two golf courses and offers lots of amenities, plus it’s being sold nearly turnkey. Read More
NEIGHBORHOOD NOTES
Montecito: A Celebrity Paradise That’s Surprisingly Under the Radar
Hillside homes in this Santa Barbara, California, area have to-die-for views and lots of space for running around. Read More
NEWS BITES
Canadian Home Prices for September Saw Biggest Monthly Drop in Seven Years September resale prices in Canada dropped 0.8% between September and August while new home prices remained flat, according to the Teranet-National Bank Composite House Price Index. It was the first monthly decline since 2016, and the largest decrease since 2010. As far as overall national price gains, the September numbers marked an 11.4% annual increase, down from a 13.1% annual increase in August. After recent cooling measures taken by the Ontario government, Toronto’s new home prices stayed flat for the third month in a row, while resale prices fell 2.7% month-to-month. Reuters
Australia’s Market Will Remain Strong Thanks to Chinese Investors, Says Credit Suisse Credit Suisse is forecasting a continued flow of Chinese money into Australia’s real estate market in spite of new restrictions on capital outflow and higher taxes on foreign purchasers, noting that "almost all" demand from foreign buyers is now coming from China. Foreign buyers are now purchasing around 25% of the new housing value in New South Wales, 17% in Victoria, and 8% in Queensland, per the bank’s research. The Australian
U.K. Housing Confidence and Activity at Their Lowest Point Since the Brexit Vote With continued uncertainty over the logistics of Brexit and a generally sluggish housing market nationwide, the Royal Institution of Chartered Surveyors found that the U.K. housing market and activity are currently at their lowest levels since the initial vote to leave the European Union. Its monthly survey found demand from new buyers and agreed sales had fallen, with 20% of respondents noting a drop in demand, the sixth straight month of a negative survey result. Though prices in some areas continue to rise thanks to limited supply, transactions continue to fall, particularly in London and the Southeast, where 15% of respondents reported a decline in sales. Over the next three months, prices are expected to fall everywhere except for Scotland and Northern Ireland. The Telegraph.
Chinese Co-Living Developer Looks to Expand to Eight Cities As high-tech co-living setups gain popularity with Millennial Chinese renters, Shanghai co-living apartment operator Harbour Apartments is looking to create 20,000 more co-living units in eight different cities, including Hong Kong, by the end of the year, with an eye toward quadrupling that number by 2019 and reaching one million shared apartments within the next five years. CEO Huang Haibin’s model involves buying old buildings and fixing them up into co-living spaces with amenities and dormitory-style or private rooms for rents ranging between 600 to 20,000 yuan (US$90 to US$3,000). South China Morning Post
Second Round of Sales is Launching for High-End Villas at Sharjah’s Aljada After a first round of sales that saw more than 500 units snapped up, sales at Aljada, a master-development in UAE’s Sharjah, UAE, will open up for their second round this weekend, with 84 villa and townhouse offerings available in the development’s "Anber Community." At 2.2 square kilometers, Aljada is the largest project in Sharjah, has a gross real estate value of Dh24 billion (US$6.5 billion), and is expected to be completed by 2025. Gulf News
AROUND NEWS CORP
New York Landlords Have to Work Harder to Profit From Airbnb [The Wall Street Journal]
Wallpaper Stages a Bold, Bright Comeback [The Times of London]
Home Staging Secrets the Experts Wish You Knew in Advance [Realtor.com]
Jennifer Connelly's Record-Setting Park Slope House Is Back [New York Post]