New Yorkers Get Condos of All Styles and Types This Fall
Much like the weather this time of year, New York’s real estate forecast for fall is mixed. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Victorian London Home With a 21st Century Upgrade: A Private, Indoor Pool
The house, which once belonged to a Nobel Prize winner, has been completely modernized. Read More
THE INSIDERS
NYC Developer Explains the New Condo Premium
New developments are higher quality than ever before, says Alchemy’s Kenneth Horn. Read More
NEWS BITES
After a Slow Growth Period, British Rental Prices Are Making Gains British rents rose 2.4% year-over-year in August, bucking the recent trend of slow growth in the market, and marking the fastest rate of inflation since November, according to data from Homelet. A strong market in London led the charge with 2.5% year-over-year growth, bringing the average monthly rent up to £939 (US$1,273) in the U.K. at large, and £1,600 (US$2,170) in the capital. City A.M.
Interest From the Mainland Could Drastically Change Hong Kong’s Market, Experts Say Even a minor uptick in demand from mainland Chinese buyers could put significant upward pressure on Hong Kong’s already-hot market, experts say. CLSA’s Nicole Wong estimated that if 1% of the transaction value in tier-one cities were re-routed to Hong Kong, demand would jump 10%. Mainland buyers already accounted for 23.1% of transaction value in Hong Kong’s market in the second quarter. Incentives are particularly strong for buyers who have already worked in Hong Kong for years, and therefore can get local identity cards and avoid paying stamp duties that can otherwise run as high as 23.5%. South China Morning Post
New Housing Initiatives Will Bring Residents Back to Dubai, But Push Rents Downward With new development and government affordable housing initiatives on the way, Dubai’s southern areas such as Jumeirah Village Circle, International City, and Dubailand, are expected to see a notable increase in population, but downward pressure on rents. After steep rent increases between 2012 and 2014, Dubai’s government has rolled out extensive new programs to create affordable housing options for residents. Khaleej Times
China’s New Home Prices Rose 8.2% in August Average home prices in 70 Chinese cities only rose by 0.2% between July and August, but average new home prices rose 8.2% in the same period, according to data from The Wall Street Journal and the National Bureau of Statistics. Much of the growth came from new demand and activity in smaller cities, but growth in previously hot areas also contracted in the same period. Larry Hu warned that once markets slow down in areas such as Guilin and Hohot, the "property market will be in a down cycle, and that will be the biggest drag for the economy." MarketWatch
AROUND NEWS CORP
Homes Built to Stricter Standards Fared Better in Storm [The Wall Street Journal]
Social Media Stars Are Trading Posts for Apartments [New York Post]
These Towns Have It All: The 10 Best Places to Live in America [Realtor.com]
Billionaire's A$8.25m Bid Not Enough [news.com.au]