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Mansion Global Daily: Luxury to Spur Slowdown, Singapore Is the Priciest City, and More

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

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Luxury Market Predicted to Spur U.S. Housing Slowdown in 2018

National home prices are likely to grow just 3.2% next year, compared to the forecasted 5.5% in 2017. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

An 18th Century West Village Townhouse That’s a Blank Canvas

The house has ties to the abolitionist movement. Read More

DESIGNER'S CORNER

Decorating a Family Room That’s Chic, Not Cluttered

With these tips, the heart of the home can be well designed. Read More

NEWS BITES

B.C. Housing Association Forecasts Relative Cooling in 2018 Though prices aren’t expected to drop, the British Columbia Real Estate Association is predicting further cooling in the market’s momentum for 2018. Estimated home sales are expected to drop to 91,700 units next year (down over 10,000 from 2016’s record), and prices are expected to increase 4.6%, up from this year’s growth rate of 3.1%. Analysts say a chronic lack of supply is to blame for rising prices. Vancouver Sun

Seattle Buyers Would Need an $11K Salary Boost to Afford City’s Housing Seattle once again has the fastest-rising home prices of any city in the nation, with prices up 12.9% year-over-year, according to the latest quarterly report from HSH.com, a mortgage and consumer loan-information company. Prospective buyers would now need a raise of $11,000 to afford the average mortgage. Elsewhere, Las Vegas prices were up 9%, San Diego up 8.2%, and Portland up 7.3% for the year. Seattle Times

Sweden’s Market Could be Headed for a 10% Slump After reaching a high point this summer, Sweden’s housing market could lose as much as 10% of its value, according to S&P global ratings. "We project prices could fall by 7% to 10% from their August peak before stabilizing in 2018," said S&P analyst Sean Cotten. The drop is largely due to strict new amortisation requirements hitting at the same time as an increase in supply. South China Morning Post

China’s Housing Supply Has Hit a Four-Year Low China’s inventory of unsold homes is at its lowest point in four years, reassuring developers that the market has room for new construction, and quelling fears of a bubble. The change is in part a result of government "de-stocking" efforts aimed at calming the overheated market. Inventory fell 10.1% year-over-year in October, and 2.1% from the previous month, marking the 27th consecutive month of declines. Financial Times

New York Is U.S’s Most Expensive City; Singapore Is Priciest in the World A ranking of the world’s most expensive cities, by the Economist Intelligence Unit, found Singapore to be at No.1, Hong Kong at No. 2 and Switzerland at No. 3. New York, the only U.S. city to make the top 10, came in at No. 10, tying with Copenhagen. New York was No. 7 last year, but fell because of "a slight weakening of the U.S. dollar, which has also affected the position of other U.S. cities," according to the Economist. Los Angeles fell from eighth place to 11th place. Curbed

AROUND NEWS CORP

T. Boone Pickens Lists Longtime Texas Ranch for $250 Million [The Wall Street Journal]

Why Marylebone Is the Star Village [The Times of London]

These Real Estate Trends Will Be Game-Changers in 2018 [Realtor.com]

Renting Real Estate to Amazon Is a Nightmare: Sources [New York Post]