Foreign Buyers and a Tourism Boom Are Fueling Japan’s Luxury Real Estate Market
Those seeking second homes in the country should look at these cities before prices rise even further and inventory gets tighter. Read More
BY THE NUMBERS
| CONTENT FROM: 200 Amsterdam |
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Debuting 200 Amsterdam’s Premier Full Floor Residence: 41
Presenting the most versatile, classically composed, four-bedroom residence with epic Central Park and Hudson River views. Discover 200 Amsterdam’s Penthouse Collection, crowning its landmark tower. At 80% sold with premium inventory remaining – 200 Amsterdam is the top selling building in NYC. 3-5 bedrooms, full floor & duplex residences from $6.25M. Immediate Occupancy.
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TRENDING TODAY
LISTING OF THE DAY
Condo Atop the St. Regis Atlanta Offers Wide-Angle Skyline and Stone Mountain Views
The residences have full access to the extensive hotel amenities, and this unit has a private elevator, a bar and a covered balcony. Read More
Mansion Global Boutique
Extendable Dining Tables Perfectly Suited for Your Holiday Soirées
The holiday season brings joy, cheer—and perhaps lots of entertaining and party planning. Now, here’s one thing you don’t have to worry about: Where everyone’s gonna sit. Read More
NEWS BITES
One in Three Homes in New York Fail to Sell
New York City’s housing market has been tough on sellers, according to a recent StreetEasy survey conducted by the Harris Poll. The survey found that a whopping 35.7% of previously owned homes listed on StreetEasy in 2022 were removed from the market without finding a buyer. And for homes that do eventually sell, it takes them significantly longer to find a buyer than the rest of the country. The median number of days spent on the market is 89 days for New York listings, while the national average is just 15 days. New York Post
Prices Finally Creeping Back up in Canberra, Australia
Median house prices in Canberra, Australia, increased by 1.8% over the September quarter to reach A$1.042 million (US$660,000) after remaining stagnant at A$1.024 million for the previous two quarters, the latest Domain House Price Report has found. According to the report, the current median house price is still down 2.9% from its September 2022 high of A$1.073 million. It was a different story for apartment prices, which continued to fall in the third quarter, dropping 0.6% to A$567,059. However, the depth of the downturn has eased when compared to the previous quarter, helping to slow the annual pace of declines. Domain
Lawsuit Against L.A.’s Mansion Tax Dismissed
A months-long legal challenge against Los Angeles’s mansion tax came to an end on Tuesday when an L.A. County judge dismissed a lawsuit that looked to declare the measure unconstitutional. The ruling was a blow to many in the city’s luxury real estate sector, who claim that the tax has frozen the market and stifled development. Officially known as Measure ULA, the transfer tax took effect in April, and levied a 4% charge on all real estate sales in the city above $5 million and a 5.5% charge on sales above $10 million, with proceeds going toward housing and homelessness-prevention efforts. Los Angeles Times
Dubai’s Luxury Housing Market ‘Not Sustainable,’ According to the Founder of Emaar Properties
Dubai has seen immense growth in its luxury housing market in recent years, but that growth is “not sustainable,” according to Mohamed Alabbar, the founder of Emaar Properties, the developer behind mega-projects such as the world’s tallest building, Burj Khalifa, and the Armani Dubai hotel. Dubai’s population is expected to grow from 3.5 million to 5.5 million by 2030, with the majority of newcomers from India, Russia and the U.K. Supply can’t keep up with demand from the continued influx of high-net-worth buyers, Alabbar said. “We had about 5,000 millionaires move in. Even if the market crashes and only 2,500 millionaires move in this year, we don’t have enough space [or] enough homes for these people,” he said. Skift
AROUND NEWS CORP
A Highland Eco-Lodge Is on Sale for £985,000 [The Times of London]
Selling a Haunted Home? That’s Between You and the Ghosts [The Wall Street Journal]
Slip Through Time in $1M Medieval-Style Castle in Oregon, the Week’s Most Popular Home [Realtor.com]
NYC’s Iconic, and Vacant, Flatiron Building to Transform Into Luxe Condos [New York Post]
