Mansion Global Daily: What Falls For Luxury Real Estate, Work From Home Raises UK Prices And More

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Roadmap for Navigating the Fall Luxury Real Estate Markets

What to expect in New York, London, Miami and Dubai in the coming months. Read more

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TRENDED TODAY


DAY LIST


$ 65 million Beverly Hills mansion with a 150-year-old olive tree in its courtyard

The furnished home offers 18,000 square feet of interior space, with more master bedrooms than the average Los Angeles home. Read more

MEETING NOTES


Gueliz and Hivernage offer cosmopolitan, modern living in the cultural heart of Marrakech

The neighboring neighborhoods, which include the finest French schools, luxury hotels and the Moroccan city’s vibrant nightlife, attract younger, wealthy residents from different countries. Read more

BITES NEWS

Working from home has driven prices up in the UK, says Bank of England

According to the Bank of England, the surge in house prices in the UK was fueled by the ability of buyers to work from home, as well as the availability of high credit value (LTV) mortgages. Prices rose 7.6% year-on-year in July, while the average quoted price of a 90% LTV mortgage fell 85 basis points year-to-date, according to the bank’s monetary policy report released Thursday. “People have worked more from home and are looking to work more from home,” deputy bank governor Ben Broadbent said at a web event with regional bank agents on Friday. “Home space is becoming more valuable, and in particular, home space outside of the city center is becoming more valuable.” Bloomberg

Florida Surfside Condominium Collapse Site To Be Listed For Sale

Commercial real estate broker Avison Young is preparing a proposal memorandum for a condominium collapse site in Surfside, Florida, in Miami-Dade County, which could be ready within a month. The company is developing zoning details for the site, while an appraiser determines the fair market value of the apartments to determine payments to survivors and families of victims of the collapse that killed 98 people. The plans, unveiled during the trial earlier this week, make the site less likely to become a memorial, as some have suggested. The real deal

Sales and price increases persist in Westchester County, New York

Strong demand continues to drive sales in New York’s Westchester County, according to the Hudson Gateway Association of Realtors. The median single-family home price rose 17.7% to $ 835,500 in the second quarter of 2021, compared to the same period last year. In addition, home sales rose 54.4%. “Sales of residential homes in Westchester County in the second quarter of 2021 continued a notable recovery from the Covid-19 crisis a year ago … and at this stage, these trends show no signs of abating,” said Richard Haggerty, CEO of the Hudson Gateway Association of Realtors. … Yonkers Times

California cities ranked least accessible

According to the National Association of Homebuilders and the Wells Fargo Housing Opportunity Index, the Los Angeles area remains the least affordable major housing market in the United States for the third quarter in a row. In fact, the country’s five least accessible regions were in California, including San Francisco; Anaheim, Santa Ana and Irwin; San Diego and Carlsbad; and Oxnard Thousand Oaks Ventura. Pittsburgh was the most affordable large housing market in the country. World Real Estate Magazine

AROUND CORP NEWS

In Salt Lake City, Sticker Shock Doesn’t Prevent People From Buying Million Dollar Homes [The Wall Street Journal]

How to read a UK property plan [The Times of London]

Almost half of luxury apartments are empty in buildings built by seven billionaires [New York Post]

How this quick flip in Dallas made six figures in less than a month [realtor.com]

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