London’s Wealthiest Home Sellers Need to Adjust Their Price Expectations
“For serious sellers out there, asking prices need to reflect the mood-change in the market,” said property data firm LonRes. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A 17th-Century Pink-Painted Mansion in Barbados
The over 13,500-square-foot Great House, which presides over some 4 acres of landscaped grounds, has six bedrooms and six bathrooms. Read More
DESIGNER’S CORNER
How to Design Around a Wall of Windows
Float furniture, bring the outside in, and choose treatments to soften the view. Read More
NEWS BITES
London Homeowners Save £3,000 Annually Compared to Renters
Common sense may dictate that it would be true but now there’s data that proves that it’s better to own than rent in London. According to research from Halifax, homeowners in the capital spend 12% less a month when compared to renters, £1,828 (US$2,204) versus £2,074 (US$2,501), for annual savings of £2,950 a year. The trick, however, is finding a place to buy. Rising interest rates, inflation and a limited supply of properties have made it harder for prospective home buyers to secure their first house. City A.M.
Canadian Home Prices See Their Smallest Monthly Decline in Almost a Year
Have we hit the bottom? Canada’s benchmark home price fell 1.1% in February, the smallest month-to-month decline for the measure since March 2022, according to seasonally adjusted data from Canadian Real Estate Association. The diminutive drop, which has the benchmark sitting at C$704,300 (US$512,060), comes as the Bank of Canada refrained from raising interest rates last month. BNN Bloomberg
India Has the Most ‘Most-Polluted’ Cities in Central and South Asia
India has nabbed a distinction they most likely wish they hadn’t. According to the Swiss firm IQAir, India is home to 12 of the 15 most polluted cities in Central and South Asia. Though Lahore, in Pakistan, took the top spot for most-polluted city in the region with 97.4 micrograms of fine particulate matter per cubic meter, followed by Hotan, in China, at 94.3—India snagged the third and fourth places, with Bhiwadi claiming the title for most polluted city in the nation, with 92.7 micrograms of fine particulate matter per cubic meter, followed closely by Delhi at 92.6 micrograms. According to IQAir, 60% of Indian cities included in the report have fine particulate matter levels seven times higher than World Health Organization guidelines. The Hindu Business Line
Chicago Mayoral Candidate Brandon Johnson Proposes Mansion Tax
Chicago Democratic mayoral candidate Brandon Johnson has proposed a transfer tax—a one-time payment made at the time of sale—for all homes selling at $1 million or more. Mr. Johnson’s proposal, called Bring Chicago Home, would raise the rate, currently sitting at 0.75%, to 2.65%, with the proceeds going toward affordable housing and initiatives for the unhoused. Mr. Johnson’s opponent in the Democratic primary, Paul Vallas, did not respond to the plan proposal but indicated he would meet with industry experts before coming up with a plan. The Real Deal
AROUND NEWS CORP
Billionaire Hedge-Funder Larry Robbins Asks $55 Million for New York Penthouse [The Wall Street Journal]
This Neo-Palladian Manor in Cornwall Is on Sale for £1.195 Million [The Times of London]
We’ve Found the Very Best Week to List Your Home in 2023 [Realtor.com]
Investment Banker Ken Moelis Sells NYC Condo for $10.75 Million [New York Post]
