Miami’s Largest Oceanfront Single-Family Property Is a $100 Million Teardown
Located on 1.5 acres in the Golden Beach enclave, the home is expected to be replaced with a new megamansion. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
A Bahamian Island Compound Stands on 300 Feet of White-Sand Beach
The estate offers 10 bedrooms, two guesthouses, two pools and lots of covered indoor-outdoor living spaces. Read More
DESIGNER’S CORNER
Blackout Solutions for Better Sleep—That Actually Look Good
Layering Roman blinds and sheer curtains allow for elegance and diffused light in the day and darkness at night. Read More
NEWS BITES
Luxury Home Sales Boomed in Canada in the First Quarter
Buyers returned to the market in full force at the start of the year across Canada, driving up sales of luxury homes. Between the last quarter of 2022 and the first quarter of 2023, activity increased in nine of the 15 markets included in RE/MAX Canada’s 2023 Spotlight on Luxury Report, as pent-up demand hit a breaking point and supply remained constrained. The biggest jump was seen in Hamilton-Burlington in Ontario, where activity increased 38.7% on a quarterly basis. Luxury sales rose 33.8% in Calgary, and 21.4% in Greater Vancouver, while the Greater Toronto Area saw a more modest increase of 4%. Storeys
Housing Inventory Has Jumped in the U.K. From a Year Ago
Despite a slowing real estate market, the number of homes on the market in the U.K. has jumped in the past year, according to data from property portal Zoopla. In March, each listing agent across the country was offering an average of 25 homes for sale, up 78% from 14 at the same time last year. Financial Times
Rental Prices in Australia Continue to Surge at Record Rates
House and apartment rents have both hit record highs across Australia, with vacancies plummeting to an all-time low. Figures from the Domain Rent Report reveal that as of the quarter ending in March, house rents have increased for eight straight quarters and apartment rents have increased for seven straight quarters. “The numbers are pretty stark and we’ve seen a greater acceleration in unit asking rents, particularly coming out of Melbourne and Sydney, both of which also have record vacancy rates,” said Nicola Powell, Domain’s chief of research and economics. Domain
Branded Residences Are Driving More Ultra-Wealthy Buyers to Dubai
The already affluent Dubai has only increased its number of ultra-wealthy residents as the city’s real estate market has boomed over the past year, and the rise of branded residences seem to be driving the demand. Luxury buyers appear to prefer hotel-branded residences over other types because they reflect the experience they are accustomed to in a vacation setting. These branded residences, including ones owned by St. Regis and Four Seasons, offer resort-like amenities such as room service and residence clubs. Proximity to the waterfront is also favored by potential buyers. Arabian Business
AROUND NEWS CORP
Bluegrass Beauty: Kentucky’s Most Expensive Home Sits on 1,750 Spectacular Acres [Realtor.com]
Hockey Great Chris Chelios Asks $75 Million for Malibu Beach Home [The Wall Street Journal]
Las Vegas Raider Jerry Tillery in Contract to Buy NYC Penthouse [New York Post]
Mortgage Demand Falls as Buyers Struggle to Find Homes for Sale [MarketWatch]
