Montecito, California, Isn’t the Only Idyllic Hideaway With Trophy Homes and High-Wattage Names—Here Are Five Alternatives

Stop us if you’ve heard this one before. Los Angeles Rams quarterback Matthew Stafford has listed a Los Angeles home that he purchased from Canadian rapper Drake. The three-bedroom property, which Stafford has placed on the market for $6.8 million, is the second property the quarterback has purchased from the hip-hop star—and subsequently listed. In July, Stafford placed a neighboring home he bought from Drake on the market for $5.7 million. The latest listing, located in the city’s Hidden Hills neighborhood, features a massive backyard with its own horse trail and spa. Realtor.com

Would-be home buyers, sidelined by elevated mortgages, and newly arrived residents are set to drive rents in Hong Kong past their previous peak pricing. Currently, the city’s rental price index sits at 194.1, after a 1.1% month-over-month increase in July—just 6 percentage points below the rental price record of 200.1 reached in August 2019. With a growing pool of renters, and limited rental supply, industry analysts anticipate further rental price increases, as well as the conversion of unsold apartments into leased properties. Rents grew 6.6% year on year in July. For the rental index to reach a record, prices would need to grow 8.2% year on year in August. South China Morning Post

In a bid to combat overcrowding and slow the pace of land development, Bali’s provincial government has proposed a two-year ban on the construction of new villas, hotels, discos and beach clubs. The moratorium would cover the Indonesian province’s most heavily populated tourist areas including Canggu, Seminyak, Uluwatu and Ubud. According to Acting Governor Sang Made Mahendra Jaya, large portions of Bali’s rice fields have been subject to commercial development, often without government approval. BNN Bloomberg

One British developer is tackling the nation’s cost-of-living crisis with a one-of-a-kind incentive. Hopkins Homes is offering residents of their Church View development in Bramford, Suffolk, a “10-Year Zero Bills Guarantee,” in which the developer will cover the cost of occupant’s energy bills for a decade. Hopkins Homes says the offer is only really possible because of the size of the battery storage systems they are able to fit in the homes, which allow for increased storage and utilization of renewable energy, as well as longer bouts of self-sufficiency. PropertyWire