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Mansion Global Daily: How to Think About London, Low Inventory in Toronto and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

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As London Real Estate Flounders, Thinking Long Term is Best Strategy

Brexit has both buyers and sellers wary, but there are opportunities for smart investors. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

A Lake Tahoe, California, Resort Residence With Amazing Views

The modern home also offers indoor-outdoor living, and skiing right out of the door. Read More

NEIGHBORHOOD NOTES

Thao Dien: A High-End Haven in Bustling Ho Chi Minh City

The District 2 neighborhood boasts prestigious schools and excellent investment opportunities, just 15 minutes by car from Saigon’s CBD. Read More

NEWS BITES

‘Critically Low’ Supply Pushes Toronto Condo Rents Even Higher Toronto’s condo lease transactions dropped 8% in the second quarter, while average rents rose 11.2% year-over-year, according to data from Urbanation. "Current rental supply has fallen to a critically low level," said the company’s president in a statement. However, new construction is on the rise to help meet booming demand, with an increase in both new purpose-built rental construction, as well as applications for proposed projects, in the second quarter. BNN Bloomberg

Public Estate Flat Sets Hong Kong Price Record at HK$3.2 Million A 150-square-foot studio in a converted Hong Kong subsidized housing building has listed for HK$3.2 million (US$408,000), setting a new price record for this category of housing. Prices for units in public housing estates, formerly reserved for low-income residents, have been driven up as Hong Kong’s first-time buyers become increasingly pressed for affordable options. Now, 26 straight months of price increases have forced "more buyers to turn their eyes to former subsidised housing that have been converted for resale on the open market," said Derek Chan of Ricacorp. South China Morning Post

Rents in Abu Dhabi and Al Ain Keep Falling Both villa and apartment rents in Abu Dhabi and Al Ain continued dropping in the second quarter of the year, per data from Asteco. Abu Dhabi saw its villa rents drop by 2% for the quarter and 10% year-over-year, with apartment rents falling 4% for the quarter and 9% year-over-year. In Al Ain, villa rents dropped 7% for the quarter and 12% year-over-year, while apartment rents dropped 2% quarter-to-quarter. Khaleej Times

California Not Seeing Real Estate Exodus Due to New Tax Code, Experts Say While there have been reports that homeowners in high-tax states like New York and New Jersey may be moving to lower-tax locations like Texas and Florida, real estate professionals in the high-tax state of California say they’re not seeing an exodus. High-end sales are up, they say. But according to one private wealth manager, the new rules could have a "chilling effect" on asking prices for homes in the state and would lead residents to rent instead of own their homes. The Real Deal

AROUND NEWS CORP

Michael Cohen Purchases New York City Apartment for $6.7 Million [The Wall Street Journal]

House Price Freeze—Blame It on the Sunshine [The Times of London]

Billionaire Michael Rubin Spending $43M on NYC Penthouse [New York Post]

How Movers Move Their Own Stuff: 8 Insider Hacks You'll Be Glad to Know [realtor.com]