Monaco, Geneva, Singapore Have Highest Percentage of Ultra-Wealthy Residents
Two city-states, Monaco and Singapore, as well as Geneva, Switzerland, claimed the top three spots in a ranking of the world’s highly-concentrated cities for ultra-high-net-worth individuals, according to a report Thursday by Wealth X, a global wealth information provider. Read More
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A Two-Story Miami Penthouse With Its Own Private Pool
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When Do I Have to Start Paying Taxes on a Condo That’s Still Being Built?
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NEWS BITES
Home Ownership Increasingly Difficult in Canada Owning a home is becoming less and less of a realistic proposition for Canadians, according to the president of the Canada Mortgage & Housing Corp. who spoke about the affordability crisis at a conference in Australia. High prices in major cities have lead to a decrease in homeownership numbers. Vancouver’s prices have jumped 65% in the last five years, while Toronto’s have increased by 63% in the same period. Vancouver Sun
Home Prices Rise in Germany Homes in Germany are increasingly overpriced, according to a financial stability report from Bundesbank. In 2016, rents were 15% to 30% above their value, up from 10% to 20% in 2015. While high costs were previously restricted to urban areas, in 2017 they extended to rural areas as well. Bundesbank attributed the high prices to low interest rates and easily available credit. The Financial Times
Scotland Sees Rental Prices Rise Scottish rental rates grew 2.5% this year, reaching an average of £575 (US$774). The Highlands and Islands area had the largest growth, with rents increasing 6.4% to £613 (US$825). Glasgow and Clyde experienced the only dips, with a 5.3% decrease, but their prices were up slightly in September and October. PropertyWire
41% of Miami Renters’ Salaries Go to Rent Renters in Miami are spending 41% of their income on rent, according to a Zillow report that measure median rent against median income. That figure was only 28.5% in the years prior to 2000, which has resulted in Miamians spending an extra $7,000 annually. With rents continuing to rise, the percentage is expected to only increase in coming years. The Real Deal
AROUND NEWS CORP
City West: Berlin’s Latest Hotbed of Cool [The Wall Street Journal]
Mortgage Rates Sink for Now, but a Big Bond-Yield Climb Looms [MarketWatch]
Brokers Are Using Virtual Reality Headsets to Sell Apartments [New York Post]
7 Things Financial Planners Wish You Knew About Buying a Home [Realtor.com]