British Vineyard Demand Triples in a Year as Interest in English Wine Explodes
High-profile foreign investments and a diversifying industry, along with the impacts of climate change, have seen the U.K.’s area of active vineyards grow 75% in the last five years. Read More
BY THE NUMBERS
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HOME OF LEGENDS
Within these historic walls, discover a new and inspiring home as the Old War Office is reborn as The OWO. Experience the finest in service & style at Raffles Hotel & Residences, unparalleled culinary experiences and a transformational spa.
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TRENDING TODAY
LISTING OF THE DAY
This Connecticut Mansion Is Straight out of ‘The Stepford Wives’
The stone Georgian Colonial has 36 rooms on four levels, eight fireplaces and is right next to a 48-acre conservancy. Read More
THE INSIDERS
Seattle Is the Epicenter of ‘Quiet Luxury,’ Architect Says
Steve Hoedemaker talks about demand for understated homes in the U.S.’s third-wealthiest city. Read More
NEWS BITES
Asking Prices Cut on One-Third of Homes in U.K.
Higher interest rates are leading to price cuts in the U.K. About one-third of all the homes for sale in the nation (36.3%) have slashed their asking price at least once—the most widespread discounts seen since 2011, according to U.K. property portal Rightmove. The national average cut has reached £22,700 (US$28,094). Would-be sellers have set to slashing in a bid to entice buyers off the sidelines amid a turbulent time for the country’s property market. City A.M.
It’s Getting More Expensive to Build Homes in the U.S.
Like the rays of the sun, there is little inflation doesn’t touch. Residential construction input prices were up 1.5% month-over-month in August, with crude petroleum prices and unprocessed energy materials prices rising 8.9% and 5.4%, respectively, in that timeframe, according to a report from the Associated Builders and Contractors, based on an analysis of U.S. inflation data. “Anyone who thought that excess inflation would simply go away later this year has been rudely awakened this week,” said ABC Chief Economist Anirban Basu. “While energy prices will grab headlines, items like concrete and switchgear also exhibited inflationary tendencies in August.” World Property Journal
Building Permits Plummet in Germany
Apartment building permits in Germany fell 31.5% in July, year over year, according to the nation’s office of statistics. Germany has a goal of building 400,000 new apartments a year, but that is looking like an increasingly difficult measure to meet. The Federal Statistical Office is pointing to high building costs and difficulty securing finance as the driving factors behind the freefall, while building firms in the nation are calling on the government to push through a stimulus package to support the industry. The Business Times
Nearly 119-Acre Ranch and Home in Wyoming Hit the Market for $58 Million
A massive Wyoming dude ranch, which was once won in a card game in 1944, has come to the market for $58 million. Spanning nearly 119 acres in the Grand Teton National Park, the Grand View River Ranch comes with a history as rich and colorful as the cowboys who once populated the region. In addition to a vibrant history and breathtaking views, the ranch comes with hiking trails, pastures and two dozen buildings, including guest lodges, a barn and the owner’s home. The Real Deal
AROUND NEWS CORP
An Even Bigger Housing Crisis Threatens China’s Economy [The Wall Street Journal]
Scottish Property Market Outstrips Rest of U.K. [The Times of London]
Staggering Asking Price for Live-in Bank [news.com.au]
Is the American Dream of Homeownership Still Possible for First-Time Home Buyers? [Realtor.com]
