Luxury waterside living may typically be associated with beachfront condos or a ranch overlooking a lake, but the humble canal is generating demand for city dwellers who want a breath of fresh air on their doorstep and the ability to commute to work by kayak. Read More
The property on which Otterburn Castle stands can be traced back to William the Conqueror. Read More
The Agency founder sees more room for growth, but thinks developers may need to change their pricing models. Read More
Priced-Out San Francisco Residents Warming Up to Excelsior Neighborhood
In spite of an out-of-the-way southern location that’s earned it the nickname “the Siberia of San Francisco,” the traditionally working class Excelsior neighborhood is drawing an increasing amount of interest from residents priced out of the city’s more luxe areas. The median price in Excelsior is $890,000, well below the citywide median of $1.5 million, but still marking an 86% increase since 2012. Redfin has named the area San Francisco’s second hottest neighborhood, and properties in Excelsior on average sell within 19 days, and at 111% of the listing price.
China’s Currency Crackdown Will Most Affect U.S.-Based Chinese Buyers
China’s latest round of currency crackdowns may have a cooling effect on certain U.S. real estate markets, with Chinese buyers (both from abroad and based in the U.S.) still accounting for 53% of foreign investment in America. While wealthy buyers will likely continue to find ways to move assets overseas, middle class Chinese buyers, and those who live in the U.S. and rely on money coming in from China, may struggle under the new rules, and at a time when Chinese investment is already on the decline.
Singapore Private Home Prices Expected to Rise 10% By the End of 2018
Singapore’s struggling market has already begun its recovery, said Morgan Stanley analyst Wilson Ng, who now projects home prices to increase 2% this year, and another 8% over the course of 2018. This is the most optimistic of the current forecasts for Singapore’s market; DBS had predicted a 2% drop this year and a 3% increase in 2018, while OCBC Investment Research had said that prices will bottom out next year.
Waterfront Luxury Homes in Dubai Have Yet to Announce Prices, Future Buyers
The first nine properties in a collection of super-luxury “water homes” in Dubai’s Business Bay will soon be “assigned” their owners. The process is somewhat shrouded in mystery, with prices having yet to be announced, and developer Dubai Properties saying that they’ve been inundated with demand, and that “only the lucky few will get a chance to buy them,” while also nixing the idea of a sales auction. The floating homes were built in Finland and shipped to Dubai, and are to be the first of “tens not hundreds” of such properties, per the developer.
Tommy Hilfiger Again Slashes Millions off Plaza Hotel Penthouse [The Wall Street Journal]
Extremely Rare Spaceship Home Hits Market for First Time [New York Post]
A Perfect Place to Hold Court [The Times of London]
$500 Billion Worth of ‘Liar Loans’ [news.com.au]