Hearst Family’s White House Replica in Northern California Heads to Auction This Week
Complete with an Oval Office, the recently modernized, 11-bedroom estate was originally envisioned a century ago by the media tycoon George Hearst. Read More
BY THE NUMBERS
| CONTENT FROM: Stanly Ranch – Auberge Resorts Collection, Napa Valley |
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Discover The 2024 Awarded Auberge Stanly Ranch Residences
The Residences at Stanly Ranch Auberge Resorts Collection offer Napa Valley’s premier turnkey lifestyle. Each home promises a unique retreat with Auberge’s unmatched service. Designed with wellness, ease, and community in mind, the Vineyard Homes & Villas blend rolling vines and distant mountains into the living space. Enjoy farm-driven dining, spa, fitness center, pools, and bespoke hospitality.
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TRENDING TODAY
LISTING OF THE DAY
Check out the Star Villa of a New Development on Crete, Greece
The under-construction home will span around 5,000 square feet and have five bedrooms and a pool overlooking the Mediterranean. Read More
THE INSIDERS
Forget About Beauty, Spaces Should Tell Their ‘Personal Story,’ Says Florentine Designer Michele Bonan
The creator is distinct in the field for his sumptuous Italian aesthetic that’s bold without restraint. Read More
NEWS BITES
U.K. Conservatives Reportedly Plan to Keep Stamp Duty Cut for First-Time Buyers
With the manifestos for the U.K.’s major political parties expected to be unveiled this week ahead of the general election, news is leaking about what they may contain, with the Conservatives reportedly looking to enshrine a cut for first-time buyers. Currently, first-time buyers don’t pay a stamp duty tax on properties worth up to £425,000 (US$540,515), a temporary policy enacted by short-lived Prime Minister Liz Truss in the wake of the Covid-19 pandemic—however, the threshold is set to reset to £300,000 in March 2025. It is being widely reported that the Conservatives will pledge to make this cut a permanent one. PropertyWire
Manchester, England, Luxury Penthouse Named After Friedrich Engels
A multimillion-dollar penthouse in Manchester, England, is giving new meaning to the term “champagne socialist.” The 3,126-square-foot apartment, which sits in the east tower of the Deansgate Square development, features three en-suite bedrooms, a home office, a large open-plan living area, and a price tag of £2.5 million (US$3.1 million)—and it’s named after revolutionary socialist thinker Friedrich Engels. Engels, often credited as the progenitor of modern Communism alongside his partner Karl Marx, spent more than 20 years in Manchester as he researched perhaps his most famous work, “The Condition of the Working Class in England.” The Guardian
China’s Real Estate Rescue Package Fails to Move the Needle
The overarching rescue package China launched to bolster its crisis-hit real estate sector—a deal that included mortgage-rate and down-payment reductions, and 300 billion yuan (US$41.4 billion) to finance the purchase of unsold homes from troubled developers—has been met with disappointing results. According to China Real Estate Information Corporation, 10.8 million square meters in new home sales were recorded in 30 major Chinese cities in May, an increase of 4% compared to the month previous—but 34% below sales volume year over year. With a heavy supply weighing on the market and meager demand, industry analysts are predicting lower home prices are on the way. South China Morning Post
The Latest Luxury Home Amenity in Houston? Whole-House Generators.
As Houston finds itself subject to more powerful weather systems, one amenity has become a must-have for the city’s high-end home buyers. According to the Houston Association of Realtors, the number of luxury homes—defined as homes worth more than $1 million—sold with a whole-home generator has jumped sevenfold from 2018 to 2023. “It’s become a requirement,” said Houston homebuilder Charles Chapman of Corinthian Contracting. “When you’re dealing with someone that has $5 million-plus they can put on a home, they’re discerning.” MSN
AROUND NEWS CORP
In Big Sur, a Large Estate Will Be Split and Sold as Two Different Properties [The Wall Street Journal]
How to Build a Luxury Garage for Your Supercar [The Times of London]
Can’t Stop at Just One? These Are the Most Popular Spots for Second Homes in 2024 (None Are in Florida!) [Realtor.com]
Tesla, Ralph Lauren—Penthouses’ Must-Have Add-Ons [news.com.au]
