How the New Tax Bill Will Impact Major U.S. Real Estate Markets
While locales with high tax rates will take a hit, it may take a few months to know what the legislation means in practice. Read More
BY THE NUMBERS
LISTING OF THE DAY
Spanish Colonial Revival in the Heart of the Hollywood Hills
This 1927 Spanish Colonial Revivalsits above Sunset Boulevard in the heart of the Hollywood Hills. It has been owned since 1999 by celebrity interior designer Craig Wright, whose clients have included Michael Douglas, Dan Aykroyd, James Coburn and James Garner. Read More
DESIGNER'S COLUMN
Designing a Game Room With Grown-Up Flair
It’s about having fun with friends and family—and looking good while doing it. Read More
NEWS BITES
Foreign Ownership on the Rise in Montreal as Investors Eye Quebec Montreal’s share of non-resident buyers has grown from 1.1% in 2016 to 1.7% in 2017, according to a report from Canada Mortgage Housing Corporation and Statistics Canada. Downtown and Nuns’ Island had the largest increase within Montreal, rising from 4.3% foreign ownership in 2016 to 7.6% in 2017. Toronto and Vancouver didn’t see comparable increases, indicating that foreign buyers are shifting their attentions away from those cities and toward Quebec. CBC
Damac Properties Offers a Tesla With Purchase of a Dubai Luxury Unit As part of the Dubai Shopping Festival, Damac Properties is offering a new Tesla included with the purchase of some of its luxury villas and apartments. The promotion runs from Dec. 26 through Jan. 27. Damac’s senior vice president, Niall McLoughlin, said, "We aim to surprise investors with a dream car to complement their home purchase." Khaleej Times
British Home Prices Forecast to Stagnate in 2018 A new report from the Royal Institution of Chartered Surveyors has predicted slowing transactions and stagnant home price growth for the U.K. in 2018 due to a lack of supply, unaffordability, economic uncertainty and changing tax codes. "With several forces currently weighing on activity set to persist over the near term, it’s difficult to envisage a material step-up in impetus during the next 12 months," said a Royal Institution of Chartered Surveyors economist. Bloomberg
Scottish Cities See U.K.’s Strongest Home Price Growth While London Lags Hometrack has released its latest U.K. Cities House Price Index indicating positive growth trends for British cities, which overall saw property prices grow 6.3% in the year to November, up from 4.9% last year. Scotland led the charge with 7.9% growth in Glasgow and 7.6% growth in Edinburgh, though Aberdeen prices fell 3.7%. London, however, only saw a 2.7% price growth, while Cambridge prices grew 2% and Oxford prices rose 0.7%. City A.M.
Mainland Chinese Billionaire Purchases Asia’s Third Most Expensive Apartment Chinese billionaire Xhu Xingliang is reported to be the buyer of an HK$498.88 million (US$63.95 million) flat in the third phase of the luxury Mount Nicholson development in Hong Kong. The sale makes the apartment the third most expensive flat in Asia, with a price per square foot of HK$116,945 (US$14,976). The buyer is said to be the majority shareholder of Suzhou Gold Mantis Construction Decoration, with a net worth of US$2.6 billion. South China Morning Post
AROUND NEWS CORP
Step Inside L.A.’s Most Bonkers Bachelor Pad [The New York Post]
The Castle House in Strathmore Moving to Beechworth [realestate.com.au]
Why It’s So Hard to Forecast Home Prices for 2018—and Why That Should Worry You [MarketWatch]
Derek Jeter Now Renting (and Possibly Buying) Luxe Miami Condo [realtor.com]
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