With More Americans Buying Overseas, Here’s How Europeans Can Lure U.S. Buyers
To boost interest, sellers can update their homes to include open kitchens, updated bathrooms and other modern amenities. Read More
BY THE NUMBERS
TRENDING TODAY
SPECIAL REPORT
Honolulu’s Million-Dollar Holiday Homes Beckon Buyers
Sellers are increasingly open to price negotiations, particularly in the under $2 million market, creating opportunities for entry-level luxury buyers. Read More
LISTING OF THE DAY
Live in a 200-Year-Old Irish Lighthouse, on an Island, With a Helipad
The walled compound, which underwent a five-year renovation, also has several guest cottages. Read More
NEIGHBORHOOD NOTES
Home to Hobart’s ‘Millionaire’s Row,’ Sandy Bay Offers Waterfront Living and Walkability
The Australian suburb outside the Tasmanian capital is filled with period Federation-style houses and great schools. Read More
NEWS BITES
Hong Kong’s Existing Property Prices See First Increase Since April 2022
Existing home prices in Hong Kong rose 0.6% in January, the biggest month-over-month increase since April 2022, according to data provided by the Rating and Valuation Department. The reopening of the city’s borders and influx of investors has buoyed the market, and the government has announced it will relax the stamp duty on first-home buyers to further fuel the housing market. “This is faster than we expected,” said Derek Chan, head of research at the agency Ricacorp, adding that the index could climb by 3.6% in the first quarter. “We expected a U-shaped recovery. Now it may be a V-shaped rebound.” South China Morning Post
As Sydney Prices Drop, Some New South Wales Suburbs See Values Spike
Certain suburbs across New South Wales, Australia, have seen price growth of more than 20% while values in Sydney have dropped as buyers look for relative affordability outside the capital. Adelong, a town in the state’s Riverina region, had the biggest growth, with the median price of a home rising 22% to A$395,000 (US$265,856) year over year. Merriwa—located in the far west of the Hunter region—registered a 21% increase in house prices to a median of A$393,000. Meanwhile, greater Sydney values dropped 7.5% from their peak in February 2022. realestate.com.au
New Development to Bring More than 800 Apartments to Saudi Arabia’s Capital
Konoz, a mixed-used development, has launched in Riyadh, Saudi Arabia’s capital and main financial hub. The project will bring 120 serviced apartments to the area, as well as an additional residential complex with 700 apartments, according to the developer Abdullah Al-Othaim Investment Company. Konoz, which means “box of treasures,” is inspired by gemstones, according to the developer, and will also include a hotel, more than 215,000 square feet of entertainment and significant office space. Gulf News
Seattle’s Market ‘Is Coming Back to Life’
Demand may be outpacing supply in Seattle, leading to price increases in the housing market. In January, inventory was down about 16% compared to the previous month, according to Redfin data. In addition, new listings were down 32% year over year and it’s now taking about 37 days to sell a home, 32 days longer than it took in January 2022. Meanwhile, the median sales price was $715,000 in January, a 0.7% annual increase and up 1.56% from December. With the busy spring season around the corner, prices are likely to continue to rise unless more inventory comes to the market. “The market is coming back to life,” said Zillow senior economist Jeff Tucker. “It’s not the crazy frenzy of 2021 and early 2022, but it’s not the doldrums of October and November either.” Axios
AROUND NEWS CORP
Top 20 Property Investors in Australia Ranked by Occupation Revealed [news.com.au]
Why Britain’s Housing Is Becoming More Unaffordable [The Times of London]
5 Creative and Inexpensive Ways to Elevate Your Guest Room Decor [Realtor.com]
Penthouse Tied to Chinese Exile Guo Wengui Cuts Price to $32.5 Million [New York Post]
