London Home Buyers Pay Double for a Room With a View
The average property with good sights costs about 93% than London’s average house. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
Inside the Highest-Priced House in Alaska’s History
The summer residence, a family compound, has fantasy-themed bedrooms. Read More
SMART HOMES
Smart Devices Perfect for the Dorm Room
Outfit your young academic with gadgets to create an environment they’ll actually enjoy studying in. Read More
NEWS BITES
Million-Dollar Suburbs Grow Across Australia
The number of million-dollar suburbs has jumped across regional Australia, according to data from Domain. There are now 103 spots outside of capital cities where the median property price has surpassed A$1 million (US$647,795). The pricey areas are mainly in the states of New South Wales and Queensland, with some in Victoria and the Australian Capital Territory. “The number of million-dollar suburbs has benefited from the pandemic upswing because people who were selling out of Sydney and Melbourne moved into the regional areas for a lifestyle change … so it’s no surprise to see Noosa and Byron Bay, for instance,” said Domain’s chief of research and economics Nicola Powell. Domain
Singapore Home Sales Hit Recent High
More homes changed hands in Singapore last month than at any point since November 2021, according to figures from the Urban Redevelopment Authority. In particular, new developments launched in July saw robust sales, with some selling more than half of their available units. “Developers brought forward their sales launches ahead of the lunar seventh month, which is deemed by some buyers to be an inauspicious period to make a big-ticket item purchase,” said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie. August sales may be lower due to a lack of large project launches, and figures in the remaining months are likely to be “volatile,” she added. South China Morning Post
New Rental Law Impacts Housing Stock Across Spain’s Balearic Islands
A new Spanish rental law has resulted in a reduction in the supply of properties to rent across the country’s Balearic Islands. The housing law, which passed roughly three months ago, allows for the automatic renewal of rental contracts for up to six years, or seven years if the property owner is classified as a company. Rather than commit to such potentially lengthy leases, owners are preferring to leave their properties unoccupied. The National Statistics Institute’s latest housing census gives a figure of 105,000 empty properties in the Balearics. As the total number of dwellings in the Balearics is just over 650,000, almost one-sixth of all properties are empty. Majorca Daily Bulletin
Developer Confident About Swedish Eco Project Despite Market Concerns
The developer behind a mega development in Sweden remains optimistic about the project’s success despite challenges posed by rising inflation and interest rates, turbulent labor prices and a political climate that is less focused on environmental concerns. Atrium Ljungberg AB’s Stockholm Wood City will be the largest “eco district” made of engineered wood in the world. It will span 25 blocks and consist of 7,000 office spaces, 2,000 homes, shops, restaurants and clean energy sources. The development is aimed at reducing carbon footprints and promoting sustainability. Construction is slated to begin in 2025. Gillett News
AROUND NEWS CORP
The Priciest Place to Live in the Midwest? It Doesn’t Get More Expensive Than Glencoe [The Wall Street Journal]
Downsizing Might Be the Answer to All Your Property Problems [The Times of London]
Got a Windowless Bathroom? Try These 5 Design Tips for a Loo You’ll Love [Realtor.com]
Secret Weapon Homeowners Are Using to Deal With Interest Rate Rises [news.com.au]
