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Mansion Global Daily: Markets Investors Should Consider in 2018, a Visit to Frankfurt's Westend and More

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

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Mansion Global Daily will be off Monday, Dec. 25 due to the Christmas holiday and will return Tuesday, Dec. 26

Emerging Markets With Upside for Real Estate Investors

Dubai, Abu Dhabi and Jakarta are worth considering in 2018 Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

A Victorian Home with Modern Sensibility in New York’s Dutchess County

Built in 1875, this quintessential Second Empire Victorian home exhibits the baroque, European qualities one might expect from a grand 19th century home but with modern touches and amenities that give it an updated feel. Read More

NEIGHBORHOOD NOTES

Frankfurt’s Westend, Popular Amongst Bankers, Offers Historic and New Homes Alike

This attractive, traditional neighborhood, which forms part of the city’s high-rise financial district, is known for its historic, elegant atmosphere and pretty parks. Read More

NEWS BITES

A One-Acre Plot of Land in Sagaponack, New York, is Asking $18 Million An oceanfront lot in Sagaponack on Long Island has listed for $17,995,000 empty, but it’s also being offered with plans for a still-to-be-built mansion, which would bring the price up to $29,995,000. The 5,200-square-foot home would have six bedrooms, and the property comes with 126 feet of direct ocean frontage. The land last sold as a lot with a teardown for $12 million in 2015. Curbed Hamptons

Canadian Housing is the Least Affordable It’s Been Since 1990 Canada’s housing affordability has reached its worst levels since 1990, according to a quarterly report from RBC economics. The problem is especially bad in big cities, and Vancouver is the nation’s least affordable market, with 87.9% of household income needed in order to pay a typical mortgage. In Toronto, 78.4% is required and in Victoria 64.5%, while Saint John in New Brunswick is the most affordable region, with mortgages costing just 24.5% of household income. BNN

U.K. Rents Slated for Negligible Increases in 2018 Rental price growth in the U.K. is expected to slow from 1.6% this year to around 1% in 2018, per a forecast from the Royal Institution of Chartered Surveyors. The buy-to-let market is facing a number of obstacles at the moment, including the new 3% stamp duty surcharge on buy-to-let purchases. London in particular, will see flat or negative growth, with the report noting that "there is a mismatch between landlords’ desired rental levels and tenants ability to pay." PropertyWire

Manufacturing Magnate’s $65 Million Star Island Mansion is Headed for Auction A Star Island mansion owned by Rally Manufacturing founder Marco Iacovelli is headed for auction without reserve after unsuccessfully listing last year for $65 million. Iacovelli paid $1.83 million for the estate in 1987, featuring an 18,400-square-foot, 10-bedroom house built in 1924 by Indy 500 fonder Carl Fisher. The home was renovated this year and seems to follow a larger recent pattern of difficulty selling ultra-luxury properties in the area. The Real Deal Miami

Major Chinese Bank Offers Incentives to Owners for the Right to Rent Out Their Properties China Construction Bank is offering homeowners a one time cash payment for the right to rent out their properties. The move from CCB, China’s second-largest lender, is part of a growing trend of banks looking to edge into the Chinese rental market, which is currently backed by government incentives. "The rental segment is emerging as a huge ‘blue ocean market,’ or uncontested market space, for banks to tap," said an analyst from China Zheshang Bank. South China Morning Post

AROUND NEWS CORP

A $42M Unfinished Miami Penthouse Is the Week's Most Expensive New Listing [realtor.com]

The Multi-Million Dollar Reason Lady Gaga, Britney Spears and J Lo Have Gone All-In on Las Vegas Residencies [Moneyish]

Sydney’s Top Property Sales of 2017[realestate.com.au]

New-Home Sales Roar to a Fresh High as Builders Feed a Market Starved for Supply [MarketWatch]

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