The Luxury Market in Los Angeles Cooled Off at the Highest End Last Year
There were fewer blockbuster sales in the fourth quarter of 2017. Read More
BY THE NUMBERS
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LISTING OF THE DAY
A Contemporary Villa Close to Algarve’s Best Beaches and Golf Courses
The 10,107-square-foot Portuguese house has seven bedrooms and seven full bathrooms. Read More
TAX TALK
How Will It Affect My Property Taxes If I Make My Home in Ireland Sustainable?
While transforming your house won’t change your taxes, there are other things you can do that will. Read More
NEWS BITES
New Building Is Strong in Australia New residential building numbers for Australia suggest a strong start to 2018. The final quarter of 2017 had a 0.7% increase in housing starts and 5.3% more multi-units beginning construction, though detached home starts declined by 3.4%. The number of loans issued to those building or purchasing homes were also up, rising 2.2% in November over the month prior and 12.4% in a three month period year on year. PropertyWire
Real Estate Prices in Abu Dhabi Expected to Drop Further The rent and home price decreases seen in Abu Dhabi in 2017 are expected to continue in 2018. In 2017, there was a dip of 10% in apartment rents and 7% in villa rents over 2016, while sales prices declined 10% for apartments and 4% for villas, year on year. High and mid-range priced homes were the most affected. The drops can be attributed in part to an increase of supply as well as a lack of economic growth. Khaleej Times
Hong Kong Looks to Build Homes Above Container Port Terminals A new building proposal called for constructing a series of homes above the Kwai Tsing container terminal in order to ease the severe housing crunch Hong Kong is experiencing. The plan suggests the proposed housing could accommodate tens of thousands in the most unaffordable city in the world. Billionaire Li Ka-shing’s Hongkong International Terminals, the company that operates the ports, has said they would be willing to work with the government on a potential plan. South China Morning Post
U.K. Sees a Decline in Mortgage Approvals The rate of mortgage approvals in the U.K. dropped 19% in December on the year prior, hitting the lowest rate since April of 2013. There were 36,115 approvals issued, down from 39,007 in November. The average is 51,609. Annual growth in consumer credit was also down, dropping to 0.7% from 0.8%. It’s been suggested that factors like raised interest rates were a contributing force. City AM
AROUND NEWS CORP
The 20 Hottest Markets for Real Estate in America for January 2018 [realtor.com]
Harvey Weinstein Sells Hamptons Home at a Loss [New York Post]
Other Countries with Negative Gearing Don’t Share Australia’s Price Problems [news.com.au]
A Lucky Year for Chinese Real-Estate Buyers [The Wall Street Journal]