Mansion Global

Mansion Global Daily: Seattle Luxury Sells, Hong Kong Home Prices Rise, and More

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

Save

Luxury Homes Selling Fastest in Seattle

The West Coast city, along with Nashville, San Diego and others, are bucking a general slowdown. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

A Grand, Italianate-Style Notting Hill Home

The house in London has modern—and luxurious—amenities. Read More

DESIGNER'S CORNER

How to Design a Stylish Playroom

Tips on making space for your child that’s fun, functional and educational. Read More

NEWS BITES

Hong Kong New Home Prices Rose 18% in the First Quarter of the Year The price of a new home in Hong Kong rose 18% in the first quarter of 2018, bringing the average price up to HK$16.08 million (US$2.05 million), per data from Ricacorp properties. Ricacorp’s head of research said the numbers represented the second-highest quarterly increase since the company first started tracking prices in 1996. Experts expect prices to continue growing in the coming months, but at a slower pace of around 10% in 2018, and 5% in 2019 and 2020. South China Morning Post

Pace of Canadian Housing Starts Slowed in March The pace of housing starts slowed in March, according to Canada Mortgage and Housing Corp., with a seasonally adjusted rate of 225,213 units for the month, down from 231,026 in February. For the first quarter, housing starts averaged around 227,000, bringing them in line with fourth quarter levels. CMHC’s report forecasts the pace to continue to slow in response to "rising interest rates, regulation, and a softer price environment." Vancouver Sun

Rising Prices and Limited Availability Put Canada’s Renters in a Bind Average Canadian rents went up 2.7% last year, to an average of $947 per month, while available units have grown increasingly scarce, according to the Canada Mortgage and Housing Corp. The vacancy rate for cities was just 3% in 2017, and 3.7% in 2016. Analysts blame the government’s move away from building rental housing in the past two decades, and the increasingly popularity for developers to build more lucrative condo buildings instead of rentals. BNN

3,000 New Dubai Homes Were Delivered in the First Quarter During the first quarter of 2018, 3,000 newDubai homes were delivered, 78% of which were apartments. And 42,000 more units are currently under construction and slated for delivery by the end of the year, according to JLL, with projects from Damac, Emaar, and Dubai Properties accounting for over 20% of the total planned units. However, Dubai’s slumping market may slow the pace of deliveries to something closer to 9,000 to 12,000 units for the remainder of the year. Gulf News

AROUND NEWS CORP

Bernie Madoff’s Former Beach House to List for $21 Million [The Wall Street Journal]

House Prices Are Moving in Tandem Across the World, and That Creates Risks, IMF Study Finds [MarketWatch]

Real Estate Board of New York Picks the Best Deals of 2017 [New York Post]

Buying a House? Here’s Some Advice You’ll Hear—and Should Totally Ignore [realtor.com]