Whether it’s for a $500,000 South Florida condo or a $100 million-plus Beverly Hills mansion, hiring an interior designer to temporarily furnish, or stage, a property before it’s listed is a necessary expense in today’s real estate market, experts say. Read More | |
|---|
|
|---|
|
This three-bedroom apartment was part of a major renovation of Maui’s Montage Kapalua Bay resort in 2014, which cost a reported $15 million. The verdant land, where the resort and residences stand, was once used as a plantation. Read More | |
|---|
|
|---|
|
The capital city’s most exclusive area offers luxury at every turn, but sellers have an advantage thanks to low inventory. Read More | |
|---|
|
|---|
|
San Francisco Condo Building May Have Slashed Prices
A broker for 72 Townsend—a 74-unit luxury condo development in San Francisco’s South Beach—allegedly circulated a sales email telling prospective buyers that developers wanted all remaining inventory sold by Aug. 31, and would be offering discounts of up to 20% on units including a $3.14 million penthouse. Meanwhile, seven designated affordable apartments in the building received 300 applications from eager middle-income buyers interested in discounted sales prices that topped out at $250,000. Curbed San Francisco
|
|
|
|
Indian Investors are Snatching Up Properties in Dubai
Indian buyers made up 25% of foreign residential deals in Dubai in the first half of 2017 and were leading foreign investors in other major international markets. This shift mainly comes due to rising high mortgage rates and land costs at home. India nationals bought around INR 208 billion (US$ 3.3 billion) worth of property across 6,263 investors, according to recent statistics released by the Dubai Land Department. Hindustan Times
|
|
|
|
New Restrictions on Investment Slow Australian Housing Markets
Recent government restrictions aimed at international investors appear to be having the desired cooling effect in Australian property markets, with price growth slowing in both Sydney and Melbourne last month, and investor loans accounting for 37% of new mortgages in May, down from a peak of 41% in January. Additionally, Sydney’s property auction clearance rates stayed below 70% for seven of the past eight weeks, down from a high of 81% in March before the new restrictions came into place. Bloomberg
|
|
|
|
Dubai Skyscraper Torch Tower Experiences Another Major Fire
For the second time since 2015, Dubai’s 79-story Torch Tower has experienced a serious fire, forcing residents to evacuate on Thursday night and causing significant damage to the building. The cause of the fire is unclear, but as in the previous blaze, the fire was spread more quickly by the building’s external cladding, one of the same factors cited in London’s deadly Grenfell Tower fire. In Thursday’s fire and in 2015, all Torch Tower residents were safely evacuated, thanks in part to building design that includes “smoke-free safety zones.” BBC
|
|
|
|
If you have been forwarded this email and want to sign up for the Mansion Global Daily newsletter, click here.
|
|
|
|
|
|
