San Francisco’s Luxury-Home Market Shows Signs of a Rebound
Sales rose in February for home at or above $5 million, recovering from a depressing end to 2022. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
Villa Offers a Taste of European Design Near Downtown Nashville and Its Famed Music Row
The new spec house features a pool with a recreation pavilion, a wine wall, multiple bar areas and a garage with plenty of room for car lifts. Read More
DESIGNER’S CORNER
Bright Ideas for Eye-Friendly Home Office Lighting
The goal is to illuminate the space in a way that best protects your eyes for long periods of time and encourages productivity. Read More
NEWS BITES
A Record Number of Canadians Believe They Will Never Afford a Home
The Canadian real estate market has dealt with higher interest rates, limited supply—and now despair. According to a new survey by Mortgage Professionals Canada, a record number of respondents—33%—believe that they will never be able to afford their first home. “The rapid decline in affordability—thanks to both high home prices and now high interest rates—has played a central role in Canadians’ view toward home buying,” said the report from Mortgage Professionals Canada. Optimism about home ownership has been in steady decline, with the number of respondents who believe they will never own growing 8 percentage points in the six months since the survey was last taken and 15 points year over year. BNN Bloomberg
Hong Kong Is the Top Spot for the Ultra-Wealthy in Asia
While its housing market has been mired in gloom until recently, Hong Kong still remains the top location for the wealthiest individuals in Asia. According to a new study by global data analyst Altrata, 15,175 ultra-high-net-worth residents maintain primary or secondary homes in Hong Kong, making it the hub for the super-wealthy in Asia. China also snagged the second spot in Asia, with Beijing (8,923 ultra-rich residents) unseating Singapore (7,471 residents), which fell to third. South China Morning Post
New Dubai Tower Does AED 1 Billion in Sales in First Hour of Launch
We can safely say that Dubai’s luxury market is thriving. Within 60 minutes of its launch, the forthcoming St. Regis Residences, Financial Center Road development had received AED 1 billion (US$272.2 million) in committed sales. The sales represented 70% of the available 232 units in the 250-foot-high Downtown Dubai tower, scheduled to open in 2025, and represented another strong showing for branded residences in the region. Gulf News
Carey Mulligan, Marcus Mumford Sell L.A. Home for $6.495 Million
Actor Carey Mulligan, star of “Promising Young Women” and “Drive,” and husband Marcus Mumford, frontman of Mumford & Sons, have sold their Spanish Revival-style home in the West Hollywood neighborhood of Los Angeles for $6.495 million—just six months after purchasing the property. Located just above Sunset Strip, the four-bedroom, five-and-a-half bedroom home features a screening room, a recording studio, an outdoor kitchen and a swimming pool. The couple, who purchased the home in 2022 for $6.5 million, are taking a slight loss on the sale. Dirt
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AROUND NEWS CORP
After Three-Year Renovation, Former Condé Nast CEO Lists Florida Home for $15.9 Million [The Wall Street Journal]
Lake District Doubles Council Tax on Second Homes [The Times of London]
Home Buyers Beware: The Fed Just Jammed Another Wrench Into the Spring Housing Market [Realtor.com]
Brooklyn’s Tallest Tower Lists for Sale [New York Post]
