Category Archives: Luxury Homes

Lack of Inventory in Los Angeles Continues to Drive Buyers to Condos

A lack of new listings is putting a damper on single-family home sales in Southern California and pushing buyers toward condos.  New signed contracts for single-family homes in Los Angeles dropped 14.2% year over year in August, while new listings had plummeted 57.6% compared to the same time in 2020, according to a report Thursday […]

Penthouse Buyers Pay the Biggest Premiums to Live on Top in Hong Kong, London and New York

Across some of the world’s largest cities, trophy-home hunters can expect to pay the largest premium for the prestige of securing a penthouse in Hong Kong according to a report Monday from Knight Frank.  A top-tier unit in the city comes with a 59% price premium per square foot, the highest surcharge of any of the five […]

Demand for High-End Homes in Dubai Soared in the Second Quarter

Dubai’s high-end property market is fresh from a prosperous second quarter that saw big-ticket dealmaking in the Emirate surge, according to a report from LUXHABITAT Sotheby’s International Realty. Prime sales jumped 43.8% in the second quarter compared to the previous quarter, demonstrating the real estate market recovery from the coronavirus pandemic.  “The post-Covid resilience of […]

The Hyde Park Super Palace

A Chinese billionaire who made his fortune buying umbrellas and cassettes has been given the go-ahead to partly demolish his 45-room mansion overlooking Hyde Park and build a £500m ‘super palace’ in its place. Westminster City Council this week rubber-stamped Hong Kong-based tycoon Cheung Chung Kiu’s proposals for the £205m property in Knightsbridge, which include […]

Investors Account for About One in Six U.S. Home Sales

U.S. residential real estate investment has nearly returned to pre-pandemic levels, according to a report Thursday from Redfin. Investors, defined as institutions or businesses that purchase residential real estate, bought close to 68,000 properties in the second quarter, a 15.1% quarter-over-quarter increase, the report found. That’s the highest quarterly figure recorded since 2000, when the […]

New York-Style Loft Apartment in the Heart of Paris Asks €8.9 Million

A loft-like two-bedroom apartment of the sort more commonly found in the cast-iron buildings of Lower Manhattan has come up for sale in the stylish 6th Arrondissement of Paris for €8.9 million (US$10.5 million).  “It’s a very New York style of apartment,” said listing agent Alina Grigoras of Juno Fine Properties/Knight Frank, who has the listing with Kelly […]

Manhattan’s Luxury-Home Market Takes a Breather After Five-Month Frenzy

Summer break has finally subdued the rip-roaring Manhattan luxury home market, which has seen its  record-breaking streak of contracts signed at $4 million or more come to an end. Last week was slower though certainly not slow, with 28 contracts signed at that level in the seven days ending Sunday, according to the latest roundup from Olshan […]

New York City Luxury Rentals See a Rush of New Lease Signings, and Price Increases May Not Be Far Behind

New York City rental markets showed strong performance in June, driven in part by a flurry of luxury activity, an indication that as Covid-19 infection rates continue to dwindle, the city’s wealthy residents are returning in droves. While prices were largely flat—Manhattan’s luxury rental market saw median prices decline by 2.9% year over year, according […]