Manhattan’s Luxury Housing Logs Best Week in Nearly Four Months
Buyers signed contracts on 25 homes asking $4 million or more. Read More
BY THE NUMBERS
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Country Mansion with Chianti Classico vineyards
Country mansion with Chianti Classico vineyards, dated year 1100, on 335-acre Tuscany organic estate, has a winery producing over 70.000 bottles per year of the finest Tuscan wines, vaulted cellars, unparalleled views, 10 bedrooms and charming country-style living rooms with fireplaces.
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TRENDING TODAY
LISTING OF THE DAY
F1 Champ Jenson Button’s California Compound Has Emerged From a Major Renovation
His wife, interior designer Brittny Button, gave it a postmodern 1980s makeover with a Spanish twist. Read More
THE INSIDERS
Daily Column TitleFrom RuPaul to Cher, Hollywood’s A-List Knows the Interior Designer to Call
Martyn Lawrence Bullard talks about his new book, his favorite recent projects and a 5,000-square-foot walk-in closet. Read More
NEWS BITES
Property Developer China Evergrande Group Ordered to Liquidate
China Evergrande Group has been ordered to liquidate by a Hong Kong court after the property developer failed to reach a restructuring deal with its creditors. Evergrande, along with a number of other Chinese developers, ran into trouble when the Chinese government cracked down on excessive borrowing in the real estate sector, and currently holds the ignominious title as the world’s most-indebted developer. Analysts expect the liquidation will likely impact China’s financial system, and further rattle an already slumping property sector. City A.M.
Hong Kong Home Prices Fall to Lowest Level Since 2017
Hong Kong property prices have tumbled to a low not seen in seven years. According to China’s Rating and Valuation Department, the value of lived-in homes dropped 1.4% in December—the eighth consecutive month of price declines—bringing the official index to 312.1, the lowest level since January 2017. It marks the second straight year of price declines for lived-in properties, and industry analysts point to a sluggish Chinese economy and higher interest rates as the culprits behind the price falls. South China Morning Post
Two-Tier Rental System Is Emerging in Dubai
Dubai renters are discovering that it is better to renew than sign new leases—at least, when it comes to cost. Landlords in the U.A.E. city are limited in how much they can raise the rent for existing tenants at renewal time, as regulated by the Real Estate Regulatory Authority, but for new tenants, landlords may ask the potential renter to pay the market rate—which can be higher than the rents of nearby buildings. The end result? A significant and widening gap between the price existing tenants pay and rents on new leases. Khaleej Times
Homes in India Are Getting Bigger
Higher prices aren’t dampening Indian buyers’ desire for more space. According to consultancy firm Anarock, average apartment sizes in the nation’s top seven cities grew 11% annually last year, from 1,175 square feet in 2022 to 1,300 square feet in 2023—despite nearly double-digit growth in property prices. The five-year trend has seen a 24% rise in living space in India’s top metros. The greater Delhi area saw the largest average apartment size growth last year, at 37%, followed by IT hubs Hyderabad and Bengaluru at 30% and 26%, respectively. The New Indian Express
AROUND NEWS CORP
Brutal Winter Across America Is Keeping the Housing Market on Ice [The Wall Street Journal]
How Portobello Became Scotland’s Hippest Seaside Suburb [The Times of London]
Dreaming of Building a Barndominium? Here Are 5 Things You Absolutely Need To Know First. [Realtor.com]
International Buyers Flock to Victorian Home Listings With New Zealand at the Top of the Pecking Order [news.com.au]
