Summer Slowdown Continues for Manhattan Luxury
Only 13 homes priced at $4 million and more went into contract last week. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Contemporary Estate in the English Countryside
Just a short drive from London, Harford Manor updates the traditional country home with modern architecture. Read More
THE INSIDERS
Dubai-Based Luxury Expert Says City’s Downtown is Poised for Growth
Knight Frank’s Maria Morris on where to live—and where to invest—in the U.A.E. city, and elsewhere around the world. Read More
NEWS BITES
Rents Continue Falling for Prime Sharjah and Ajman Real Estate in Dubai A report from property firm dubizzle shows year-over-year declines for both rentals and sales in most parts of Sharjah and Ajman. An influx in housing stock in Sharjah, coupled with an increase in Dubai’s affordable options, has turned the market in favor of renters and pushed prices downward. Khaleej Times
Billionaire John Caudwell Plans ‘World’s Most Expensive’ Apartment Block for Mayfair John Caudwell, the billionaire founder of Phones4u, has announced plans to convert a 1960s Mayfair parking garage into a complex with 30 luxury apartments designed by architect Robert A.M. Stern, promising that it will be "the world’s most expensive and prestigious apartment block." Mr. Caudwell has boasted that prices will even top those at One Hyde Park, where prices at launch clocked in at £6,000 (US$7,872) per-square-foot. Sales for the complex are set to begin in 2021, and amenities include a spa, gym, and swimming pool. City A.M.
Hamptons, New York, Real Estate Sees Sales and Price Increases in Q2 2018 In the second quarter of the year, the Hamptons saw a 9.21% year-over-year increase in total home sales volume, and a 7.5% increase in the median home sales price, according to a report from real estate brokerage Town & Country. Sales increased in the Sag Harbor area, Southampton, Amagansett, Bridgehampton, and East Hampton, while there were decreases in sales in Sag Harbor village, Shelter Island, Hampton Bays, East Hampton village and Montauk. Curbed Hamptons
Finance Firms Warn of Imminent Hong Kong Property Bubble Burst An increasing number of experts are warning of a looming market correction in Hong Kong, due to a confluence of factors including a brewing U.S. trade war with China, the sluggish Chinese economy, and forthcoming rate hikes and market regulations. Citigroup Inc. has now forecast a 7% drop in property stocks in the second half of the year, and Hao Hong of Bocom International Holdings Co. said, "I won’t be surprised to see prices coming down 15% in the coming months." Bank of America Merrill Lynch has forecast a 10% to 20% correction in stock prices over the course of 2019 and 2020. Bloomberg
AROUND NEWS CORP
Colorado Mountain Home Inspired by ‘Walden’ Asks $29 Million [The Wall Street Journal]
From Tablecloths to Tenants? Overstock Makes a Move into Real Estate [MarketWatch]
The American Dream May Not Involve Home Ownership Anymore [New York Post]
Is Artificial Grass Right for Your Yard? 5 Factors to Consider [realtor.com]