With U.S. Borders Reopening, Domestic Buyers Should Get Ahead of the Competition From Overseas Investors
Domestic buyers must act quickly and seek out markets and housing types less likely to see increased activity in the face of renewed travel. Read More
BY THE NUMBERS
TRENDING TODAY
MANSION GLOBAL PICKS
Gift Guide for the Host Who Has It All
Presents for those who love to entertain. Read More
LISTING OF THE DAY
Experience New York From Atop a Former Wrapping Paper Factory
The modern-industrial penthouse in Tribeca has a large custom skylight and a private rooftop terrace with open city views. Read More
NEIGHBORHOOD NOTES
Hollywood, Florida, Promises Relaxation a Stone’s Throw From Miami
Record luxury real estate sales proves the beach town’s charm. Read More
NEWS BITES
Luxury Sales in London Register Strongest Showing Since 2014
The market for multi-million-pound properties perked up with the return of international buyers to London, according to data from Savills. The number of homes sold for more than £1 million (US$1.3 million) was 56% higher than predicted, the data showed. In addition, October saw more than £589 million in deals for homes priced at £5 million and above, an 80% rise compared to September and a 29% year-over-year jump, the data showed. “Overall, there have been 398 sales worth more than £5 million-plus across London in the year to October, with a combined value of more than £4.1 billion. This is the highest annual total since 2014 both in volume and value terms,” said Savills analyst Frances Clacy. Evening Standard
Reports of Volatile Real Estate Companies in China Could Affect Larger Economy, Warns S&P
News of volatility in Chinese real estate companies, including at the country’s second-largest developer, Evergrande, could affect the rest of the economy, according to S&P Global Ratings. Headlines about defaults, or even a possible default, could scare away Chinese homebuyers, and the decline of demand could put developers out of business, along with the construction companies and other suppliers that work with them, according to Charles Chang, senior director and Greater China country lead for corporate ratings at S&P Global Ratings. “Headlines can hit sentiment and drive contagion,” he said. CNBC
Price Growth Slows for Hong Kong’s Existing Homes
Prices for existing homes in Hong Kong dropped 0.85% in October, the second consecutive month of declines and biggest drop in more than a year, according to the city’s Rating and Valuation Department. Many buyers are looking to new developments instead, which are offering discounts and payment plans, said Martin Wong, head of research and consultancy in Greater China at Knight Frank. Despite the dip, existing home prices have seen an overall rise of 3.9% this year. South China Morning Post
The Melbourne, Australia, Suburbs That Top Agency’s Ranking for Livability and Affordability
The Melbourne, Australia, suburbs of Point Cook, Keilor East and Greensborough have been deemed the most liveable and affordable, according to a report this week by PRD Real Estate. Homes in those suburbs range from A$702,000 (US$500,000) to A$970,000, compared to A$1.16 million for a house within about 12 miles of central Melbourne. Still, each of the three suburbs have also seen double-digit price growth over the last year and there’s no sign of a reversal in the near future, according to PRD chief economist Dr. Diaswati Mardiasmo. “The chances of continued buying in these areas make them quite bulletproof,” she said. realestate.com.au
AROUND NEWS CORP
How Much Will a Prime Ski Property Cost This Season? [The Times of London]
Waterfront Castle Cove Trophy Home Sells for Millions Over Its Price Guide [news.com.au]
Buyers and Renters Beware: How to Confirm a Home’s Ownership so You Don’t Get Burned [Realtor.com]
The British Cathedral City of Winchester Is Drawing Homebuyers to Its Quaint Lifestyle [The Wall Street Journal]
https://www.mansionglobal.com/articles/mansion-global-daily-competition-from-overseas-investors-a-new-york-city-penthouse-with-a-previous-life-and-more-151292
