Former RadioShack CEO to Auction Limestone-Clad Texas Mansion
The custom home in Fort Worth has an insurance value of $21 million but will begin bidding at only $2.5 million. Read More
BY THE NUMBERS
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Unparalleled Luxury and Adventure await on Baja’s East Cape
45 minutes from the Los Cabos airport, Costa Palmas is a master-planned resort community set by the shores of Baja’s East Cape, on the swimmable Sea of Cortez. Owners will be part of a casual and inclusive club, which connects them to our two miles of beachfront, our clubhouses and our Robert Trent Jones II course. Explore ownership opportunities at Four Seasons Private Residences & Casa Blake.
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TRENDING TODAY
SPECIAL REPORT
Dubai’s Latest Luxury Developments Include Man-Made Islands and Rooftop Opera Pavilions
The city’s booming real estate market has seen rising demand for branded residences in particular. Read More
LISTING OF THE DAY
One of the Priciest Homes for Sale in the Dominican Republic Is This $25 Million Penthouse
The Astor Penthouse at The Residences at The St. Regis Cap Cana has two primary bedroom suites and sweeping views. Read More
DESIGNER’S CORNER
How to Mix Bedroom Patterns Like a Maximalist Pro
Focal points and the right color palettes are key to keeping various motifs harmonious. Read More
NEWS BITES
Canadian Home Buyers Are Returning but Inventory Is Still Low
Canadian buyers are dipping their toes back into the real estate market, buoyed by central bank signals that further interest rate hikes were unlikely and a drop in asking prices. According to the Canadian Real Estate Association, prices dropped 19% year over year in February, bringing the average price to C$662,437 (US$483,287) last month. And industry experts are predicting they could fall a further 6% before hitting bottom. The one hitch for prospective buyers is inventory. New listings were down 26% in February year over year, and down 8% from January, on a seasonally adjusted basis, as potential sellers are cautiously watching the market for the right time to list. BNN Bloomberg
Orlando, Florida, Posts the Highest Annual Rent Growth in the U.S.
Orlando, Florida, is home to Universal Studios, Disney World and the highest annual increase in single-family rents. Of the 20 metro areas surveyed in CoreLogic’s latest Single-Family Rent Index, Orlando took the top spot in year-over-year single-family rent growth in January at 8.9%, followed by Charlotte, North Carolina, at 8%, and a tie between New York and Boston for third at 7.4%. January marked the third-consecutive month that Orlando had the largest year-over-year gain. Though it was the first time since 2020 that none of the top 20 metros surveyed posted double-digit annual growth. World Property Journal
L.A. Expects to Raise $672 Million in First Year of New Mansion Tax
Los Angeles’s new mansion tax, a transfer tax that adds a 4% surcharge on all residential and commercial sales over $5 million and a 5.5% tax on sales over $10 million, is expected to raise up to $672 million in revenues in the first year it’s implemented, according to new analysis from the City Administrative Office. The figure is about 25% less than the $900 million-per-year estimate that was pitched to voters in November, before the proposal passed. Industry insiders warn that the implementation of the tax, which is set to take effect next month, will further chill the market, scaring off potential buyers who won’t want to pay the cost. The bulk of the revenue generated by the tax will go to supporting services for the unhoused. The Real Deal
Existing-Home Sales in the U.S. Break a 12-Month Skid
Mortgage rates go down and the buyers are back. A report from the National Association of Realtors found that home sales jumped 14.5% in February to a seasonally adjusted annual rate of 4.58 million. The boost breaks a 12-month streak of declining sales and marks the largest monthly percentage growth since July 2020. MarketWatch
AROUND NEWS CORP
A Developer Wanted His Bel-Air Mansion to Stand Out. So He Added Some ‘Razzle-Dazzle.’ [The Wall Street Journal]
Can We Avoid Inheritance Tax if Our House Is Jointly Owned? [The Times of London]
Build It and They Will Come: 10 Surprising Cities Where New-Home Construction Is Booming [Realtor.com]
$9.85 Million Penthouse Lists in Brooklyn Tower Zendaya Made Famous [New York Post]
