Foreign Buyers Increasingly Interested in U.S.-Based Real Estate
As Chinese spending has decreased, buyers from other countries have come in to fill that gap. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Classic Edwardian Home Along the Cookham Reach of the River Thames
Amenities at this English property include a boathouse and mature gardens. Read More
NEIGHBORHOOD NOTES
West Lake Hills, Texas, Has a Small-Town Feel With Easy Access to Downtown Austin
Luxurious homes, rolling hills and exceptional schools make this one of the Texas capital’s most desirable neighborhoods. Read More
NEWS BITES
Manhattan Home of New Burberry Chief Available for Rent Fashion designer Riccardo Tisci, who will soon begin work as the CEO of Burberry, will be renting his Manhattan townhouse once he makes the move to London. The former Givenchy designer is asking $24,500 for the two-unit SoHo home. The units, one a duplex and the other a three-floor two-bedroom, are also available to rent individually for $13,000 and $15,000. WWD
February Saw Lower Property Prices in U.K. The U.K. experienced a small drop in property prices in February. The 0.3% decline took the average price down to £210,402 (US$290,005), according to data by the lender Nationwide. It’s expected that the current slowdown will be limited in length, however, as unemployment and interest rates both remain at historically low levels and demand continues to be high. Experts predict that even if prices stay flat, unaffordability will continue to be an issue alongside limited supply. PropertyWire
Fixed Mortgage Rates Continue to Climb The 30-year-fixed-rate-mortgage average hit 4.43%, a 0.03% increase on last week and 0.33% over last year. The 15-year fixed-rate average is now 3.90%, up 0.05% on a week ago and 0.53% over a year ago. The higher rates along with changes under the new tax bill and increasing home prices have had their effect on home sales, with sales declining in January. The Washington Post
Efforts to Fight Canadian Unaffordability Could Lead to Diminished Tax Revenue Falling Canadian home prices as a result of measures to curb unaffordability may have the unfortunate effect of lowering tax revenue. Recent measures to restrict precipitous housing price growth have included the expansion and increase of a tax on foreign buyers and stricter mortgage regulations. The decline in revenue may cause a shortage in government funding, though it’s likely that that could take years. Vancouver Sun
Abu Dhabi Residents Opting for New Areas Increasing prices have seen new areas of Abu Dhabi rise in popularity. While the moving company ServiceMarket saw 14.46% of its clients moving to the long-coveted area of Madinat Zayed, which has remained a top community along with Al Khalidiyah, places like Reef Island and Khalifa City have also become popular. More affordable rents have driven many to the outside regions of Abu Dhabi, where traffic is less intense and there are more large homes with pools. The vast array of buildings mean that one-third of moves are from one property to another within the same neighborhood. Khaleej Times
AROUND NEWS CORP
Hollywood’s Obsession With Skyscrapers [The Wall Street Journal]
Why People Will Pay Top Price for a Townhouse [The Times of London]
Inside a Prima Ballerina's Multimillion-Dollar Home [New York Post]
Harvey Weinstein Sells Side-by-Side Properties in Westport, CT, for $16M [realtor.com]