Hong Kong, Sydney are World’s Most Unaffordable Cities
A survey named all five major markets in Australia ‘severely unaffordable.’ Read More
BY THE NUMBERS
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LISTING OF THE DAY
New Triplex in Manhattan Has Private Garden
Stars of Brazilian design have been brought in to outfit the condo. Read More
DESIGNER'S CORNER
Choosing the right furniture, lighting and accessories to make your guests comfortable while still pulling off a chic look. Read More
NEWS BITES
Frank Sinatra’s Onetime Hoboken Home Sells for $1.68 Million The four-bedroom Hoboken, New Jersey, row house where Frank Sinatra lived during his teen years has sold for $1.68 million, around $20,000 under its original listing price in October. It last sold in 2001 for $720,000. The home features 1,900 square feet of living space, hardwood floors, a formal dining area, and a deck on the second floor. Los Angeles Times
Homes Near Colorado’s Legal Pot Stores See Increased Values, Study Finds A study has found that homes located near Colorado’s legal marijuana stores have seen around an 8% boost in property values since the drug was legalized in 2014. As Canadian municipalities squabble over locations of legal cannabis stores, some landlords are looking to prohibit marijuana usage on their properties, while advocates point to pot-related improvements such as increased foot traffic to local businesses and reduced local crime. BNN
2017 Saw a 39% Increase in Australian Investors Searching for U.S. Properties Millions of Australian would-be investors showed interest in buying U.S. properties last year, with data from Zillow showing a 39% increase in U.S. property searches from the nation. In addition to low interest rates, said Zillow’s Aaron Terrazas, "the American real estate market has been among the best performing asset class [in the U.S.] as well as being low risk." The top three cities for searches were California locations—Beverly Hills, Calabasas, and Malibu. Domain
U.K. Property Transactions Continue to Slump The number of homes bought and sold in the U.K. fell 3.9% in December to 99,100, their lowest levels since November 2016. Demand for homes also fell 7.4%, while the number of homes coming on the market declined by 16.8%. Lack of supply is compounding the problem, and analysts at Jefferies forecast that "transactions will continue to trend broadly flat from here" in 2018. City A.M.
Damac Launches New Waterfront Luxury Development in Dubai Damac Properties has announced Reva Residences, a new luxury project with waterfront views in Dubai’s Business Bay. The building will offer one- and two-bedroom apartments starting at Dh699,000 (US$190,302). The developer is also offering enticing financing options, including 1% monthly payment plans. Khaleej Times
California’s Property Market Ended the Year Strong California home prices continued their robust growth at the end of last year, with the California Association of Realtors reporting the lowest inventory levels in over 13 years. As of December, there was a 1.4% year-over-year increase in homes closed in escrow, though transactions slowed toward the end of 2017. The median price in December was $549,560, a 7.6% year-over-year increase. World Property Journal
[header type="georgia"]AROUND NEWS CORP[/header] U.S. Existing Home Sales Fell in December [The Wall Street Journal]
5 Tenets of the American Dream That Are Costing You a Fortune [MarketWatch]
The Mooch Buys Hamptons Mansion After Reconciling With Wife [New York Post]
6 Surprising Ways Home Staging Can Sabotage Your Sale [realtor.com]