Developers Are Racing to Give Affluent Buyers the Gift of More Free Time
From arranging dinner parties and meeting the cable guy to hanging artwork and packing suitcases, lifestyle managers help handle residents’ to-do lists. Read More
BY THE NUMBERS
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SELENE NEW YORK | 100 EAST 53 | FULL FLOOR HOMES FROM $8.9M
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
Rescued Mid-Century Modern Home Offers a Taste of ‘Los Angeles in D.C.’
A local Virginia architect rescued the 1950s design in Arlington from becoming a teardown. Read More
THE INSIDERS
Meet the Product Designers Who Made David and Victoria Beckham ‘Burst Into Tears’
When faced with challenging projects, interior designers call on Robbie Spina and Joe Zito to create elegant, handcrafted accessories that ‘wow’ Read More
NEWS BITES
The Value of Abu Dhabi Real Estate Deals Doubled in First Half of 2023
It’s been a solid year so far for Abu Dhabi’s real estate market. According to data from the Department of Municipalities and Transport, the U.A.E. capital recorded 10,557 real estate transactions through the first half of 2023 (up 41% from the same time a year ago), for a total value of AED 46.33 billion (US$12.61 billion), more than double the value of deals during the first six months of 2022. These new figures come on the heels of news that foreign direct investment in Abu Dhabi was up 363% through the first half of the year. The National
Tier-One Chinese Cities Promise to Support Property Markets
The real estate troubles of China’s top cities has not gone unnoticed by government officials with representatives from Beijing, Shenzhen and Guangzhou (among others) making official statements over the weekend vowing to aid their struggling property markets. According to industry insiders, this support will likely come in the form of easing property measures, lowering mortgage rates and cutting down-payment ratios, with the goal of meeting demand and spurring development. The news sent shares of Chinese developers skyward on Monday. South China Morning Post
New Home Construction Falls 54% in Germany
Limited supply may become even more limited in Deutschland. Property consultant and analysis firm Bulwiengesa reports that new home construction was down 54% in Germany through the first half of 2023, when compared to the average of the previous two years. Slumping transactions, falling prices and insolvencies now mar the sector after a decade of low interest rates created a property boom. New Straits Times
Atlanta Hawks General Manager Lists Georgia Home for $3.65 Million
Landry Fields, general manager for the NBA’s Atlanta Hawks, has listed his home in the city’s Tuxedo Park suburb for $3.65 million. The 6,750-square-foot, five-bedroom and seven- bathroom home sits on nearly 1 acre and includes an upscale kitchen, an office, an elevator, a primary suite with a fireplace, dual closets and a beverage station, and a spacious backyard with a plunge pool. Realtor.com
AROUND NEWS CORP
Real-Estate Deal Gone Bad Hits Popular Crowd Funder [The Wall Street Journal]
Holiday Let or Long-Term Rental—Which Is Best for Landlords? [The Times of London]
What Is Negative Equity—and What Happens If You Get Underwater on Your Mortgage? [Realtor.com]
Australian Boom-Town Suburbs at Risk From Underdevelopment [news.com.au]
