It’s One of America’s Most Expensive Cities, and Home Buyers Can’t Get Enough
A metro area on California’s central coast ranked No. 1 in the latest WSJ/Realtor.com Emerging Housing Markets Index. Read More
BY THE NUMBERS
| CONTENT FROM: Chianti Classico Mansion |
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Country Mansion with Chianti Classico vineyards
Country mansion with Chianti Classico vineyards, dated year 1100, on 335-acre Tuscany organic estate, has a winery producing over 70.000 bottles per year of the finest Tuscan wines, vaulted cellars, unparalleled views, 10 bedrooms and charming country-style living rooms with fireplaces.
Unlock the Art of Tuscan Wines Now
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TRENDING TODAY
LISTING OF THE DAY
A Wood Cabin-Like Beach House Stands out on One of Portugal’s Car-Free Islands
The contemporary, eco-friendly home in the popular Algarve region is nothing like its Mediterranean-style neighbors. Read More
DESIGNER’S CORNER
Toning Down Maximalist Decor Without Compromising Style
Thoughtful curations, proper lighting and some restraint keep can inherently busy interiors in check. Read More
NEWS BITES
Anna Paquin, Stephen Moyer List Their Custom-Built Los Angeles Home
On-screen and real-life couple Anna Paquin and Stephen Moyer are selling their Los Angeles home, which is now listed for $8 million. The couple, who starred together in HBO’s “True Blood” series, purchased the double-lot property in 2009 for $2.2 million and transformed the then-existing beach cottage into the sprawling contemporary home that stands today. Spanning 7,102 square feet, the custom-built home has five bedrooms and eight bathrooms. Features include a Zen garden, a partially covered pool, a sauna, a spa and a fitness room, and the property is near the Venice Beach boardwalk. Robb Report
A ‘Window of Opportunity’ Opens in Toronto for Luxury Home Buyers
In the second half of 2023, there was a 27% increase in the number of properties that sold for C$4 million (US$2.99 million) or more in Toronto, according to data from Sotheby’s International Realty Canada. However, in the greater Toronto area, luxury home sales fell 20% annually. But with rate cuts expected later this year, Sotheby’s says now is the time for luxury home buyers to act. “This is a window of opportunity for luxury buyers and ‘up-sizers’ to purchase a home to meet their lifestyle and investment needs before interest rates fall, competition stiffens and the market swings in the opposite direction,” said Don Kottick, president and CEO of Sotheby’s International Realty Canada. Toronto Star
‘Underwater Mortgage’ Levels Hit Two-Decade High in Hong Kong
The value of “underwater mortgages”—a mortgage where the outstanding loan amount exceeds the property’s current market value—has surged to a two-decade high as Hong Kong’s real estate market continues to slump. There were 25,163 cases of negative-equity loans in December, more than doubling from three months earlier, and the value of these loans at the end of December was HK$131.3 billion (US$16.8 billion), up from HK$59.3 billion in September and the highest level since 2003, according to Hong Kong Monetary Authority. Additionally, recent Savills data predicted that Hong Kong’s property market will be one of the worst in the world this year. The Business Times
U.S. Home Price Growth Breaks Nine-Month Streak of Increases
Home prices in the U.S. are returning to levels seen last the summer, as a nine-month streak of growth ended in November, according to the latest S&P CoreLogic Case-Shiller Home Price NSA Index. “The streak of nine monthly gains ended in November, setting the index back to levels last seen over the summer months. Seattle and San Francisco reported the largest monthly declines, falling 1.4% and 1.3%, respectively,” said Brian Luke, head of commodities, real and digital assets at S&P DJI. Annual growth, however, is still increasing, as the index showed a 5.1% increase in prices in November, up from 4.7% in October. MPA
AROUND NEWS CORP
Champagne Bars, Tanning Booths and Revolving Shoe Racks: The $1 Million Closet Has Arrived [The Wall Street Journal]
Are You a Wealth Flasher? Then It’s No Curtains for You. [The Times of London]
‘We’re at a Turning Point’: Is the Housing Market Finally Thawing—or Is Another Deep Freeze to Come? [Realtor.com]
Why Australian House Prices May Go up in 2024 [news.com.au]
