Taylor Swift Might Need a Crash Pad in Kansas City. Here Are Three.
Next time she’s in town visiting Travis Kelce, she might consider adding one of these luxury homes to her already extensive property portfolio. Read More
BY THE NUMBERS
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TRENDING TODAY
SPECIAL REPORT
London’s Latest Developments Draw on Their Storied Pasts
From former royal gardens and industrial sites to a converted school, a batch of luxury projects with units hitting the market this fall channel their history. Read More
LISTING OF THE DAY
Century-Old Home Outside Montreal Gets a Modern Update
The charming house in the city’s suburb Saint-Lambert now has an open floor plan paired with original details from 1925. Read More
TAX TALK
How Could Colorado’s Latest Property Tax Plan—Initiative 50—Affect My Payments?
The proposal, which would cap annual property taxes whenever revenues are expected to grow faster than 4%, is not as simple as it seems. Read More
NEWS BITES
A 100-Year-Old Home in Victoria, Australia, Likely to Be One of the State’s Priciest Sales
A 1920s mansion in Toorak, Australia, with a guide price between A$46 million and A$50million (US$25.7 million to US$32.1 million) is set to become one of the most expensive properties sold in the state of Victoria. Reminiscent of a Mediterranean palazzo, the five-bedroom mansion was designed by architect AJ Ainslie and boasts an Art Deco-inspired swimming pool and spa, a tennis court and a gym. There are also gardens by landscape designer Paul Bangay. It’s being sold by an Australian businessman, David Prior, who bought it in 2014 for A$23 million. realestate.com.au
Condo Buyers in Toronto Need to Save 18 Months of Rent for a Down Payment
The down payment for a condo in Toronto requires buyers to save an average 17.9 months’ worth of rent, according to real estate firm Zoocasa, which used data from the Toronto Regional Real Estate Board. An average one-bedroom condo renter paid C$2,532 (US$1,879) in August, while the average down payment needed was C$51,983, the data showed. However, the necessary down payments have decreased since last year. Since the fourth quarter of 2022, “several neighborhoods have become more affordable, either because the average condo apartment sold price decreased or the average condo lease rate per month increased since the end of 2022,” Mackenzie Scibetta of Zoocasa said. BNN Bloomberg
New Sales Slump in the U.S. as Mortgage Rates Remain a Concern
Sales of new houses in the U.S. hit a five-month low in August as elevated mortgage rates continued to strain home buyers’ budgets. Sales were down 8.7% to a seasonally adjusted annual rate of 675,000 properties, according to the U.S. Department of Commerce. “Home builders are still benefiting from very low inventory of existing homes for sale, which has driven more buyers to consider new construction, but with mortgage rates elevated and home prices high, affordability is a growing concern for home buyers,” said Lisa Sturtevant, chief economist at Bright MLS. AP News
Hong Kong Property Seized from Chinese Tycoon Sells for 39% Discount
The chairman of Hong Kong’s Ocean Line Port Development, Kwai Sze Hoi, has purchased a local property lenders seized from Chinese tycoon Chen Hongtian for HK$418 million (US$53.4 million)—a 39% discount compared to its market price of HK$680 million. The 5,154-square-foot apartment is located in the Opus Hong Kong development. Kwai and his family have snapped up a number of luxury properties in Hong Kong in recent years, spending about HK$800 million. South China Morning Post
AROUND NEWS CORP
These Big-Budget Playrooms Will Make You Wish You Were a Kid Again [The Wall Street Journal]
Paint Color Ideas: Cozy Shades to Choose for Autumn 2023 [The Times of London]
America’s ‘Inhospitable’ Housing Market Has Driven Buyers to One City That’ll Surprise You [Realtor.com]
Giorgio Armani Buying Apartment Inside Namesake NYC Building [New York Post]
