Billionaires’ Row Condo in Manhattan Sells for $52 Million
The home at supertall 111 West 57th Street offers a double-height living room overlooking Central Park. Read More
BY THE NUMBERS
| CONTENT FROM: Selene |
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Selene – Residences by Pritzker-Prize Winner Norman Foster
A rarified collection of 94 studio-to-four-bedroom homes in the heart of Midtown on 53rd St. Offering five residence types including gallery quality lofts and tower residences, homes feature cinematic vistas of the NYC skyline. Sunlit, luminous amenities include a 60’ swimming pool, and direct elevator access to Le Jardinier restaurant. From $1.825M. Immediate occupancy.
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TRENDING TODAY
LISTING OF THE DAY
Inside a Five-Bedroom Surfer’s Paradise in Costa Rica
The oceanfront mansion, located in a gated community on the Nicoya Peninsula, is steps from the beach. Read More
DESIGNER’S CORNER
Popcorn Ceilings Are out, but These Textured Surfaces Are Very Much In
Designers suggest tactile finishes to transform even the most mundane interiors. Read More
NEWS BITES
Billions of Dollars Spent on Luxury Dubai Property so Far This Year
Wealthy home buyers spent a whopping US$4.91 billion on trophy homes worth US$10 million or more in Dubai so far this year, according to data from Knight Frank. In the third quarter alone, buyers spent US$1.59 billion on luxury properties in the city, with the Palm Jumeirah accounting for more than half of US$10 million-plus sales. “Dubai’s prime neighborhoods of the Palm Jumeirah, Emirates Hills and Jumeirah Bay Island, have been and continue to be the real stars of this cycle, leaving prime values 15.9% higher than this time last year,” said Faisal Durrani, Knight Frank’s head of Middle East research. Zawya
Thousands of New Rental Properties Needed to Balance Australia’s Home Market
Some 70,000 more rental properties are needed across Australia to help stabilize the market, which is currently facing the longest stretch of continuous rental price growth on record, according to Domain. Rents for houses have risen for a record-breaking 10 consecutive quarters, leaving the median rent up 13.2% from last year. More significant though is the jump in the cost of renting a unit, which has risen for nine consecutive quarters and is now 23.7% higher than the same time last year. The majority of that growth has been underpinned by the rental markets in Sydney, Melbourne and Brisbane. Domain
Luxury Home Prices in London Are Holding Up
London’s prime property prices are holding up strongly amid wider interest rate turmoil, according to Savills. During the third quarter, home prices in prime central London were 1.2% lower than the same time last year, and prices across greater London’s prime market were down by 2.1% over the same time. “Mortgage borrowing is largely discretionary in the prime central London markets, and so we saw an uptick in borrowing when interest rates were at historic lows during the pandemic,” said Frances McDonald, director of Savills residential research. “Now these markets are benefitting from affluent buyers’ ability to transact with cash or low loan-to-value ratios as rates have risen.” Independent
Residents in Sunny Southern Europe Are Looking for Cooler Spots
Facing rising temperatures, residents in southern Europe are headed north in search of cooler climates. Leggett Immobilier, an estate agency in Normandy, France, isreceiving more inquiries than ever before from people living in the country’s southerly regions. “They have had enough of the heat and restrictions on water usage, and they’re concerned it’s only going to get worse,” said sales agent Lesley Okey. One of her buyers is looking for an equestrian estate in Normandy because his current home in the Aude, close to the Spanish border, is too hot for his horses. Financial Times
AROUND NEWS CORP
An Abandoned Chocolate Factory Holds a Sweet Surprise: An Elegant Holiday Home [The Wall Street Journal]
Portugal to End Tax Breaks for Foreign Residents After Angry Protests [The Times of London]
How to Find a House When There Are so Few for Sale? [Realtor.com]
Late Architect Nick Murcutt Masterpiece Set to Break Records in Bronte, Australia [news.com.au]
