Palm Beach Sees a Spike in $1 Million-Plus Condo Sales
Luxury sales rose in July in the affluent South Florida enclave, powered by high-end apartments. Read More
BY THE NUMBERS
| CONTENT FROM: Legacy Properties Sotheby’s International Realty |
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The Legacy Collection – Maine Real Estate
We currently represent an extraordinary collection of homes that are listed for sale across the state. We hope you enjoy reading more about some of the available once-in-a-lifetime properties in Volume 18 of the Legacy Collection.
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TRENDING TODAY
SPECIAL REPORT
Sun, Sea, Sand: Dubai Is Seducing Retirees From Around the World
The Emirati city-state has some of the world’s most luxurious homes and offers a wide range of recreation and leisure amenities. Read More
LISTING OF THE DAY
Ruins of a 13th-Century Chapel Make for a Dramatic Party Backdrop at This English Home
St. Leonard’s Grange, an 11-acre estate in Hampshire, has roots as part of a Cistercian abbey. Read More
DESIGNER’S CORNER
How to Design a Wow-Factor Foyer
Set the scene with wallpaper, layers and hotel-like details. Read More
NEWS BITES
The U.S. 30-Year Mortgage Rate Is at Its Highest Since 2000
The 30-year fixed-rate mortgage climbed to its highest since December 2000 last week. The interest rate on what is the most popular home loan in the U.S. rose 15 basis points to 7.31% during the week ending Friday, according to the Mortgage Bankers Association. This mortgage rate spike is a result of yields on the government bonds, which affect home-loan rates, surging to the highest since the Great Recession. Additionally, mortgage applications fell 5% last week, hitting the lowest level since April 1995 and the largest weekly decline since April of this year. Reuters
One in Three U.K. Tenants Had to Borrow Money to Pay Rent
One in three private renters in the U.K. turned to credit cards, overdrafts and other loans to make their rent over the course of a month, according to a survey taken in June. The survey also found that half of working renters are just one paycheck away from losing their home, with 34% unable to cover housing costs on their savings alone if they were to lose their job. “Private renters up and down the country are facing a crisis like never before. Decades of failure from the government to build enough social housing means that the pressure on oversubscribed private renting is worse than ever,” said Polly Neate, chief executive of Shelter, who conducted the survey. The Independent
A Castle With a Rapunzel-Style Tower for Sale in Australia’s Blue Mountains
A home fit for a fairytale in Australia’s Blue Mountains, which is west of Sydney in New South Wales, has hit the market for A$4 million (US$2.58 million). The castle-like home even has a tower that looks like it could be from the story of Rapunzel. Built in the late 1800s, the property was once a convent, but now serves as a family residence. Located in the town of Springwood, the home has six bedrooms, parking for up to eight cars, a workshop and a barn. The property spans almost 3 acres, and its manicured gardens add to its storybook-like presence. realestate.com.au
Hong Kong Tenants Face Highest Rent Increase in 11 Years
Hong Kong rents are set to rise by 8% to 10% this year, the biggest surge in 11 years, according to Midland Realty. A population influx is driving prices, as students from mainland China and professionals approved under government talent-import schemes move to the city. The average rent for private residential properties reached HK$35.26 (US$4.50) per square foot in July, the highest level since October 2021, and the average rent for the year is expected to climb to anywhere between HK$36.22 and HK$36.89 per square foot. The rental market will outperform the home buying market this year, with many expecting home prices to decrease by as much as 10% over the course of the year, though Midland has predicted a 5% increase. South China Morning Post
AROUND NEWS CORP
A Man-Made Lake in Alabama Is Giving the Gulf Coast a Run For Its Money [The Wall Street Journal]
Homebuyers Find It Costs a Little Less to Live Next Door to Royalty [The Times of London]
Ashanti Sells Her Long Island Mansion to the Tune of $1.9 Million [Realtor.com]
They’re Trash! Here Are the Dirtiest ZIP Codes in NYC—and the Cleanest, Too [New York Post]
