A Cliffside Mansion Asking £7 Million Has One of the Longest Driveways in England—at 2.5 Miles
It took roughly a year to build the zig-zagging road to the front door. Read More
BY THE NUMBERS
| CONTENT FROM OUR SPONSOR: Selene |
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SELENE NEW YORK | 100 EAST 53 | IN A NEW LIGHT | FROM $2.4 M
Moments from Park Avenue on one of the most architecturally significant streets in New York, the Foster + Partners-designed Selene reflects craftsmanship rarely seen in New Development. Four levels of luminous amenities including a 60-foot pool, sauna, and game rooms create an urban sanctuary. Offers direct elevator access to Michelin starred Le Jardinier restaurant at ground level.
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TRENDING TODAY
LISTING OF THE DAY
Duplex Condo in the Heart of Tribeca Got a Celebrity-Caliber Makeover
The renovation was overseen by L.A.-based Clements Design, whose clients include Ellen DeGeneres and Portia de Rossi, Bruno Mars, Kris Jenner and Jennifer Lawrence. Read More
DESIGNER’S CORNER
Facelifting a Kitchen for a Fresh Look
Make an older kitchen feel modern and updated without breaking down walls. Read More
NEWS BITES
First-Time Buyers Now Need to Make £100K to Purchase in London
Everyone wants their own place in London—and that’s the problem. Demand is fueling home prices in the U.K. capital, with Zoopla reporting that property prices grew 0.5% in April in the city. As a result, the average household income required to buy a two-bedroom property in London is now £97,000 (US$121,304), up from £91,000 in 2020. For a three-bedroom home the minimum income needed has jumped to £115,000, up from £103,000 in 2020. City A.M.
Sales, Listings Are Down Substantially in Vancouver
According to the Real Estate Board of Greater Vancouver, 2,741 homes were sold in the region in April, a 16.5% drop from April 2022. The figure also represents a nearly 16% drop below the 10-year seasonal average. The reason for this slide? It could be a lack of inventory. April saw 4,307 new listings in the Greater Vancouver region, a 29.7% drop from a year ago and 22% below the 10-year seasonal average. Home prices for the region also took a year-over-year hit, down 7.4% from April 2022 to C$1.171 million (US$858,481)—but up 2.4% from March. BNN Bloomberg
Hong Kong Sellers Are Slashing Prices
Despite recent good news for the city’s housing market—buoyed by a reopening of the border with Mainland China and a rollback of other Covid-19 restrictions—Hong Kong homeowners are tipping their hands that they don’t have confidence in a sustained recovery by cutting their asking prices. According to Ricacorp Properties, one of the city’s biggest property agents, 7.9% of sellers on its website have reduced the asking price of late. Analysts believe that this tendency to trim stems from the fear of a potential economic slowdown as well as those looking to avoid increased competition from new developments. South China Morning Post
Abu Dhabi Sees 147% Transaction Value Growth in First Quarter
It has been a great start to the year for Abu Dhabi’s property market. According to the Department of Municipalities and Transport, the U.A.E. capital saw AED 27.9 billion (US$7.59 billion) in property sales and mortgages in the first quarter of 2023, representing 147% growth over the same period last year. A total of 5,472 transactions, both sales and mortgages, were carried out in the first quarter, up from 3,304 transactions—worth AED 11.3 billion—a year ago. Gulf News
AROUND NEWS CORP
Charleston Penthouse Asks $14.5 Million—A Million More Than the City’s Priciest Home [The Wall Street Journal]
Why Brits Are Buying Homes in Saint Lucia [The Times of London]
If the Housing Market Is Down, Why Do Bidding Wars and Offers Over the List Price Abound? [Realtor.com]
Open for Inspection Rates Increase Across Australia With Buyer Confidence Up [news.com.au]
