Lazy Rivers, Water Slides—Homeowners Are Splashing out to Bring the Family Together
Extravagant pools are making multigenerational gatherings more enticing. 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
Stay Warm in This Denver Mansion With Seven Fireplaces
Other amenities include a large private lot, a bar, a theater, a game room and an elevator. Read More
THE INSIDERS
Kengo Kuma on Bringing the ‘Spirit of Zen’ to Vancouver’s Skyline
The architect, who’s working on his first North American residential project, has built a practice that fuses nature and culture. Read More
NEWS BITES
U.K. Home Prices Could Fall by 12% by the End of 2024
S&P Global Ratings has predicted home prices in the U.K. will fall 12% from their peak by the end of 2024. Citing higher mortgage rates as the driving factor, S&P is forecasting that U.K. home prices will fall by 6.6% in 2023 and drop a further 4.9% in 2024. “There is still some time to go before mortgage pain reaches its peak,” the agency said. PropertyWire
Spotlight Shines on Short-Term Rental Loopholes in Vancouver
Short-term rentals, the type popularized by Airbnb, are on the rise in Vancouver, and residents are calling for clarification from the city on the rules limiting such transactions as homeowners and entrepreneurs find loopholes in the law. Vancouver only permits short-term rentals in a primary residence—the residence where the operator resides and that is used on income tax returns. However, long-term tenants are not subject to such rules and can offer short-term rentals with permission of their landlord. Property owners have been finding a nominal long-term tenant, a friend or relative, and then offering short-term rentals via that long-term tenant. As of July 19, there were 4,084 active short-term rentals in Vancouver, up 37% from August 2022. Vancouver Sun
Foreign Investment in Abu Dhabi Real Estate up 363%
Foreign buyers are back, and spending big, in Abu Dhabi. Foreign direct investment in real estate in the U.A.E. capital was up 363% through the first half of 2023 when compared to the same time period last year, according to the Department of Municipalities and Transport. In all, foreign buyers spent AED 834.6 million (US$227.2 million), with Saadiyat Island receiving the greatest share of investment at 34%, followed by Yas Island (28%) and Al Jurf (12%). Gulf News
Minnesota Vikings Owner Lists Custom-Built New Jersey Mansion
Minnesota Vikings owner Zygmunt “Zygi” Wilf has listed his custom-built mansion in Springfield, New Jersey, for $3.25 million. Built in 1990, the 13,484-square-foot residence comes with a grand foyer with a two-story staircase, soaring ceilings, a bar, a game room, a movie theater, an exercise room, a wine cellar, and a primary suite with an office, spa-inspired bathrooms and oversized walk-in closets. Outside, the property includes professionally landscaped grounds, a pool and a pool house. Realtor.com
AROUND NEWS CORP
Splitting a Second Home With Family or Friends? Get a Lawyer [The Wall Street Journal]
The Ultimate Guide for Moving From the U.K. to Europe [The Times of London]
Florida’s Insurance Market Is a Hot Mess. Homeowners Are Paying the Price. [Barron’s]
Corporate Giants Targeted in New Plan to Rake in Billions Worth of Tax to Boost Housing Stock [Realtor.com]
