Manhattan Luxury Home Sellers Slash Prices
New and old properties are getting discounted—and moving. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A London Townhouse Built for a Fashionista
The six-story house is near high-end shopping and has lots of decked-out closet space. Read More
THE INSIDERS
Veteran NYC Real Estate Broker Says Future is in Green Buildings
Shlomi Reuveni says there isn’t a bad place to invest in Manhattan. Read More
NEWS BITES
Finalist U.S. Cities for Amazon’s New HQ Face the Possibility of Steep Annual Rent Hikes An analysis from Zillow indicates that the presence of Amazon would lead rents to increase 3.3% annually in Nashville, Tennessee, four times their current pace of growth. Other cities in the running for the company’s new headquarters would see even more dramatic increases, like a projected 6% yearly rent increase in Denver. However, Zillow’s analysis is based on past growth patterns in each city, and doesn’t factor in the possibility of mitigating measures such as new construction. Business Times
London’s Chelsea May Be Recovering From Its Post-Stamp Duty Slump Chelsea, London, prices in March were 15.5% below their previous peak in August 2015, a drop analysts largely attribute to stamp duty changes in recent years. However, prices only dropped 1.9% year-over-year in March 2018, compared to a 12.6% drop in March 2017, a sign that prices are likely near their bottom. An analyst for Knight Frank said that the next stage of recovery will be a shrinking of supply in the area, followed by upward pressure on prices. PropertyWire
Brooklyn Luxury Market Has Priciest Week of April Last week, 19 contracts were signed in the Brooklyn, New York, luxury market, adding up to $63.4 million in sales, according to a report from Stribling & Associates. The week’s properties went for an average of $3.3 million. Stribling’s threshold for luxury in Brooklyn is $2 million or more, and the deals were split between nine condos and 10 house deals. The prior week, 14 contracts were signed for about $33.3 million overall. The Real Deal
Whistler Surpasses Vancouver as ‘Craziest’ Housing Market in Canada Benchmark property prices in Whistler, a Canadian ski town two hours north of Vancouver, have now passed the famously expensive city. Price gains in Whistler have also outpaced Toronto, as it becomes more of a four-season destination and as more businesses are buying million-dollar properties to house employees. Home prices have risen 19.6% year over year in Whistler, as opposed to 16.1% in Vancouver and a 1.8% decrease in property prices in Toronto. Bloomberg
AROUND NEWS CORP
Manhattan Townhouse of Malcolm Forbes Back on the Market for $28.5 Million [The Wall Street Journal]
5 Things You Should Know When Buying Your First Home [MarketWatch]
No Longer Sydney's 'Forgotten Suburbs' [news.com.au]
Forget SF, Goodbye NYC! You Won’t Believe the New Millennial Magnets for Home Buyers [realtor.com]