Pool or Aquarium? Transparent Walls Entertain Swimmers and Onlookers Alike.
The splashiest designs go beyond infinity edges to make a statement and more opportunities for fun. 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
LISTING OF THE DAY
Zero-Carbon Connecticut Home Stays Comfortable—Through Frigid Winters or Wildfire Smoke
The main house uses net-zero design principles, no fossil fuels and energy-recovery and air-filtration systems to maintain consistent year-round temperatures and a constant flow of fresh air. Read More
THE INSIDERS
If Time Is the Biggest Luxury, Good Design Can Buy You More, Says Susana Simonpietri
The Brooklyn-based interior designer discusses how the right marriage between space and client can create an expansive sense of time. Read More
NEWS BITES
U.K. Home Prices See Their Biggest August Dip Since 2018
The average home price in the U.K. fell 1.9% in August, dropping £7,012 (US$8,924) to £364,000, and marking the largest price fall for the month since 2018, according to property portal Rightmove. In London, the cuts were even deeper, with the average capital home value dropping 2.3% to £672,000. The drops appear to be driven by escalating mortgage rates, which have pushed sellers to cut prices in a bid to entice potential buyers. But it may not be working. Despite lower prices, August transactions were down 15% compared to the same period in 2019. City A.M.
U.K. Landlords Twice as Likely to Sell as Buy
In a testament to the tough times for the nation’s real estate investors, U.K. landlords are now twice as likely to sell a property as they are to buy it. In the second quarter, 12% of landlords in England and Wales sold a property, while only 5% made a real estate investment, according to a study by research consultancy BVA-BDRC. And these numbers may become even more lopsided. Research by the National Residential Landlords Association found that more than one-third, 37%, of landlords plan to reduce their number of properties in the next year, while only 8% are looking to add to their portfolio. Rising mortgage rates and the loss of mortgage tax relief have motivated landlords to shed homes. PropertyWire
Singapore Buyers Sit on the Sidelines
A wealth of options—and an elevated stamp duty—appear to have would-be Singapore buyers waiting to act. Weekend property sales for Aug.12 and 13 hit a new low in the city-state, with just 53 units selling across three redevelopment projects. Industry insiders point to the launch of nine new developments since July as the biggest contributing factor to the hesitation, saying would-be buyers are taking more time to evaluate their many property options. Also, contributing to the stall is April’s hike of the stamp duty tax for all buyers except first-time Singaporean or permanent resident home buyers, as potential purchasers are becoming much more deliberate about finding the right deal. South China Morning Post
Justin Timberlake Lists 127 Acres in Tennessee for $10 Million
Pop star and actor Justin Timberlake is looking to make a pretty profit with his latest venture. Timberlake, the ‘NSync alum, solo artist and actor, has listed the 127 acres in Franklin, Tennessee, for $10 million that he bought for $4 million in 2015. The property, which can only see limited development because of a conservation agreement, is an outdoor recreation paradise, with wooded trails, wide-open pastures, a creek that runs through grounds, and three distinct mountaintop views that look over the estate and valley. Realtor.com
AROUND NEWS CORP
Banks Don’t Love Rich Mortgage Borrowers as Much as They Used To [The Wall Street Journal]
We Paid Thousands for a Pool—All We Got Was a Hole in Our Garden [The Times of London]
Worried About a Recession? A Soft Landing Could Actually Be Very Bad for the Housing Market [Realtor.com]
Buying a Home Is Getting out of Reach. Mortgage Rates Are the Reason. [Barron’s]
