Luxury Home Buyers Now Want Two Primary Bedrooms. It’s More About Financial Than Marital Harmony.
In the rarefied circles of luxury real estate, this layout is picking up traction and becoming de rigueur in new and hotel-branded developments. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A 1930s Mission-Style Hacienda Hides Away on 7 Acres in Los Angeles
The estate, which has a main house as well as a three-bedroom guesthouse, was the longtime home of Old Hollywood actor Franz Lederer. Read More
THE INSIDERS
In Hong Kong, Connecting Architecture With Nature Enhances Livability, Says RAMSA Partner
Bina Bhattacharyya talks about working in the city and how natural materials elevate a residential project. Read More
NEWS BITES
Historic Mansion in Sydney Suburb Sells Almost Two Years After Being Listed for $30 Million
A historic Regency Revival-style villa in Potts Point, a suburb of Sydney, has finally sold almost two years after it was originally listed. The 1870s home first hit the market in spring 2021 with a guide price of more than A$30 million (US$19.9 million). After being passed in at auction last month despite an offer of A$33 million, the mansion has finally sold for an undisclosed amount. The six-bedroom, six-bathroom last changed hands in 2009 for $15 million, when horse breeder Tony Petersen sold it to luxury car dealer Terry Mullens and his wife, Wendy. Domain
Asking Prices in the U.K. Reached a Record £372,894 in May
The average asking price of a U.K. house was a record £372,894 (US$463,337) in May, increasing by 1.8% in “a strong indication of sellers’ confidence,” according to the property listing platform Rightmove. In addition, buyer demand grew 3% compared to the same time in 2019, while sales lagged 3% behind the pre-pandemic market. “This month’s strong jump in new seller asking prices looks like a belated reaction and a sign of increasing confidence from sellers, as we’d usually see such a big monthly increase earlier in the spring season,” said Tim Bannister, director of property science at Rightmove. Mortgage Introducer
Las Vegas Condo Price Per Square Foot Defies Market Slowdown
The price per square foot of a condo in Las Vegas hit one of the highest levels on record in the first quarter of the year despite a serious slowdown in home sales, according to data from research firm Applied Analysis. That metric was $527 per square foot, the highest since at least 2018. The priciest apartment deals during that time were two $8 million penthouse sales. They were among 162 condo sales recorded in the first three months of the year. Las Vegas Review-Journal
NBA Star Renting out His California Home for $23,000 a Month
NBA star Patrick Beverley has found a tenant for his Encino, California, spread. Listed for $23,000 a month, the 5,264-square-foot residence was built in 2020 and features a bright, open floor plan. While playing with the Los Angeles Clippers, Beverley bought the home in April 2021 for $3.78 million. The player, 34, who started this past year with the Los Angeles Lakers, is heading into free agency after finishing the 2023 season with the Chicago Bulls. Realtor.com
AROUND NEWS CORP
Vermont Home on Lake Champlain Lists for $9.975 Million [The Wall Street Journal]
Why We Knocked Down Our House Instead of Renovating [The Times of London]
‘Chaos’: How a U.S. Debt Default Would Eviscerate the Housing Market for Buyers, Sellers [Realtor.com]
Australians Opt for Their Dream Life Rather Than a Dream Home [news.com.au]
