Manhattan Sales Rose as Prices Dropped in the Third Quarter
The threshold for "luxury," meanwhile, slips to just over $4 million. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Deluxe Caribbean Beach House on a Private 300-acre Island
9,700-square-foot Antiguan home has dramatic waterfront views. Read More
SMART HOMES
Bright Lights: Smart Lighting Options for Any Estate
Intelligent illumination puts the "fun" in functional. Read More
NEWS BITES
London Sales Fall Reports show home prices in the British capital falling for the first time in eight years, making London the worst performing English district for the first time since 2005. Mortgage lender Nationwide shows city home prices averaging £471,761, 0.6% lower than a year ago. Real estate agency Savills shows central London multimillion dollar sales as being 15.2% under the 2014 high. Theories that the Brexit passage would boost the luxury market, encouraging purchases from foreign buyers, proved false with the cooling of the market being attributed by many to political uncertainty. The National
Canadian Housing Agency Suggests Mortgage Guidelines Are Biased Evan Siddall, CEO of the Canada Mortgage and Housing Corp., has said that the level of income documentation required to secure a mortgage makes it unreasonably difficult for new Canadians and self-employed entrepreneurs to qualify. Mr. Siddall said his agency is researching new methods of income documentation as well as how many people failed to get mortgages under the current system and hope to make an announcement about their findings in the next months. BNN
An Eye-Catching Oscar Niemeyer Tower Is a Fixture in Downtown Sao Paulo A wavy apartment tower, built by Oscar Niemeyer in the 1950s, has become a key figure in the revitalization of downtown Sao Paulo. The Edifício Copan, a 5,000-person building once called the largest residence in Latin America, fell into disrepair before a new administrator helped attract new buyers enthusiastic about its architectural pedigree.New residents have helped bring about a transformation of the area. The Business Times
China’s Second-Tier Cities Look to Cope With Rapidly Rising Home Prices The city of Xian has sought to slow down increasing home prices, which have risen to 11,184 yuan (US$1,684) per square meter from 6,748 yuan (US$1,056) per square meter over the last year, through a series of property purchase controls. Xian and six other provincial capitals have banned residents from purchasing a third home and non-residents from purchasing a second. Since June, there has been a rule against reselling a home within five years of its purchase. South China Morning Post
U.S. Builders Increasingly Look to Green Homes Green construction continues to be a growing portion of American home builders’ portfolios, according to a study from Dodge Data & Analytics with the National Association of Home Builders. One-third of builders said that green building, which prioritizes energy efficiency among other things, represents over 60% of their work. It’s anticipated that that number will reach nearly 50% by 2022. World Property Journal
AROUND NEWS CORP
Elie Tahari Asks $45 Million for Hamptons Home [The Wall Street Journal]
Buyer, Beware: 7 Red Flags That the Neighbors Could Drive You Insane [Realtor.com]
The Hotspots and the Go-Slow Zones [The Times of London]
Beverly Hills Residents Want to Keep Justin Bieber Out [New York Post]