18th Century English Estate to Be Restored into £100 Million Private Home
The house will have a bowling alley and mosaic floors from the ruins of Pompeii. Read More
BY THE NUMBERS
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Two-Bedroom Aerie in the New, Soaring Madison Square Park Tower
The Manhattan duplex has double-height ceilings and spectacular city views. Read More
SMART HOMES
A Guide to High-Tech Shower Heads
Optimize your flow with these scientifically engineered spouts. Read More
NEWS BITES
Condo Prices Jump In Downtown Los Angeles Downtown Los Angeles condo prices have increased precipitously, with a Douglas Elliman study revealing a median price of $620,00, a $90,000 increase in the past year. The report’s author suggested that new luxury towers in the area could be responsible for raising average prices. The number of sales went up as well, from 89 in the third quarter of 2016 to 134 in 2017’s third quarter. Curbed
London’s Housing Need Will Require 66,000 New Homes a Year, Plan Says A plan to remedy the housing crisis in London calls for 66,000 homes to be added each year. And 65% of these should be affordable housing in order to adequately address the current need, according to the city government. Mayor Sadiq Khan said that meeting the need will require that government funding for affordable housing return to the levels of 2009, when it was twice what it is currently. Property Wire
Affordable Areas In Abu Dhabi See Popularity Spike Abu Dhabi’s more affordable areas are seeing a rush of new tenants. Places like Al Khalidiya, Mohammed Bin Zayed City, Corniche Road and Muroor, have become popular on account of their having an abundance of well-priced apartments, according to a study from property company Chestertons Mena. Al Raha Beach, Al Ghadeer, Al Reef, Reem Island and Saadiyat Island, where average studio rents fall between Dh39,000 (US$10,618) and Dh105,000 (US$28,587), have all seen marked rent decreases. Overall Abu Dhabi apartment rental prices have fallen 2%. Khaleej Times
Australia’s New Home Sales Tumble Due in part to a large decline in apartment purchases, new home sales fell 6.1% across Australia in September. New home sales had risen 9.1% in August, according to the Housing Industry Association. In September, though, sales were down nearly 26% year over year. Sales of detached houses fell 4.5%, while apartment sales fell 16.7%. Western Australia saw the largest fall in detached house sales (15.1%), followed by Queensland (8.7%). New South Wales bucked the trend, with a 3.7% rise in house sales. Realestate.com.au
AROUND NEWS CORP
Chinese Property Shopping Spree Fades as Beijing Hits the Brakes [The Wall Street Journal]
How to Get Rich Flipping Haunted Houses to Millennials [MarketWatch]
Lighten Up: Why You Need New Lamps [The Times of London]
How Manhattan's Two West Side Mega-Developments Stack Up [New York Post]