Wave of Bidding Wars Hits the Hamptons
Nearly one-third of all luxury sales had multiple offers in the second quarter. Read More
BY THE NUMBERS
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TRENDING TODAY
LISTING OF THE DAY
This Mallorcan Villa Was Built Around an Ancient Spanish Chapel
The property, known as Can Calo, is now a traditional stone residence, located between Valldemossa and Deià. Read More
TAX TALK
What Are the Property Tax Differences on Homes in the French and Swiss Alps?
The upfront costs and subsequent capital-gain taxes differ greatly, though the Swiss side has more restrictions on foreign ownership. Read More
NEWS BITES
Pink-Hued Former Flour Mill in the U.K. Lists for £1.5 Million
A former flour mill—distinctive because of its pale pink facade—in a small U.K. fishing village is on the market with a guide price of £1.5 million (US$1.9 million) and up. The Grade II-listed residence sits on more than 3 acres in Lympstone in East Devon, and offers five bedrooms, office space, several reception areas, including a snug, and a guest apartment. The mill shut down in 1950, but could still be used to generate electricity. House Beautiful
Perth Was Only Capital City to See Price Growth in Australia During the Past Year
Perth, Australia, saw house prices rise 4.6% to reach a new high of A$555,000 (US$374,000) during the 12 months through June according to the Real Estate Institute of Western Australia. “Resilience was the key theme for the WA property market in 2022-23 [fiscal year], with Perth emerging as the only capital city to record moderate price growth over the financial year despite constant interest rate rises,” according to Cath Hart, CEO of Real Estate Institute of Western Australia. MPA Magazine
Mumbai Registers Record Sales in First Half of 2023
Deals for luxury real estate in Mumbai rose 50% in the first half of 2023, according to a report from India Sotheby’s International Realty and CRE Matrix. Transactions totaled US$107 million, 31% more than the previous record of US$81 million, set in the first half of 2021. People aged 25 to 45 made up 35% of luxury home buyers in Mumbai, the report found, but those in the 45 to 65 age group made up 55% of buyers. In addition, the typical price for a luxury home—US$1.2 million or higher—rose 60% in the same time period. FX Compared
Hong Kong Home Prices Slip as Borrowing Costs Rise
Home prices in Hong Kong dropped for the second month in June, registering a 0.54% dip compared to the previous month, according to the Rating and Valuation Department. In addition, prices were down just under 1% in the second quarter, compared to a 5.25% increase between January and March. Rising borrowing costs and a lack of consumer confidence are behind the slide, officials said. South China Morning Post
AROUND NEWS CORP
‘It’s Business in Front and a Party in Back’: Welcome to the Mullet House [The Wall Street Journal]
What You Get for £450,000 in York, Essex, the Highlands and Spain [The Times of London]
What Is a Starter Home? The Small, Affordable Houses That Aren’t Being Built Anymore [Realtor.com]
American Artist Turns $2.49 Million Italian Villa Into Party Hub [New York Post]
