Category Archives: Property Market

London’s Luxury House Hunters Have a Collective £36.8 Billion to Spend

London’s super-prime property market, with demand for its most luxurious homes soaring and its buyers with billions of pounds in their collective pockets to spend, is on the road to recovery, according to a report Monday from Knight Frank.  Following a rocky Covid-induced slump that saw the property market effectively shutdown amid the pandemic, purchasers […]

London’s Busy Big-Ticket Buyers Prompted a Record-Breaking First Quarter

London’s luxury market started 2022 with a bang.  More homes priced at £5 million (US$6.5 million) or more sold in the first quarter of this year than any other on record, according to a report this week from Savills, which has been tracking the data since 2006.  Sales of super-prime properties spiked 25%—totalling 128 transactions—in […]

What Property Tax Will I Pay on a Bermuda Home?

Q. I’m a U.S. resident thinking of buying a vacation home in Bermuda. What are the property taxes like there? A. Bermuda is a tax-friendly destination for individuals, not charging income, capital gains or inheritance taxes.  However, home buyers pay a stamp duty, or transfer tax, when buying a property on the island, a British island territory located […]

Could Luxury Homes One Day Fill America’s Languishing Office Buildings?

As American manufacturing declined over the decades, major cities inherited vast stretches of disused factories and warehouses. Eventually, savvy owners and developers redesigned and renovated that manufacturing space to create desirable downtown condominiums and loft apartments, often with stylish industrial accouterments.  Now, in metropolitan business environments forever altered by the Covid-19 pandemic, an abandoned office […]

One of Istanbul’s Oldest Neighborhoods, Kadıköy Offers Modern Apartment Living

Spanning two different continents, Istanbul is a unique city in which each district has its own distinct culture and charm. The neighborhood of Kadıköy was among the first settlements on the city’s peaceful Asian side and today earns such accolades as one of the “coolest neighborhoods in the world.”  Once known for its sleepy streets and historic buildings, […]

Pending U.S. Home Sales Drop for the First Time Since June 2020

U.S. home buyers continue to snap up properties at a record pace, with 45% of homes selling within two weeks on the market, according to a report Thursday from Redfin.  In addition, 35% are spoken for within one week, according to the data for the four weeks ending Sunday. Both rates are records for this […]

What Are the New Stamp Duty Rates for Foreign Buyers in Singapore?

In an effort to slow its red-hot housing market, the government of Singapore introduced the fee alongside several other “cooling measures.”  “If left unchecked, prices could run ahead of economic fundamentals, and raise the risk of a destabilising correction later on,” the government said. “Borrowers would also be vulnerable to a possible rise in interest rates […]

In California, a Historic Home on 400 Acres Lists for $70 Million

More than 30 years ago, hospitality executives Gordon and Noel Irwin Hentschel embarked on an unusual quest: to raise their seven children at a historic estate and resort they owned in Carmel Valley, Calif., teaching them the family business.  “Our real intent was to have a place for our children to grow up,” said Mr. […]

Billionaire’ Snaps up Entire Floor of Penthouses at New London Development

On London’s Oxford Street, one of the city’s shopping meccas, an entire floor of penthouse units at an under-construction new development sold this week in an off-plan deal for £21.4 million (US$28.7 million), the developer’s sales team announced Wednesday.The full penthouse floor at TCRW SOHO, a luxury project from Galliard Homes emerging above Tottenham Court […]

Demand Is Booming for London’s Super-Luxury Rentals

A widening gulf between supply and demand has hit London’s super-prime rental market, an uber-exclusive pocket of the lettings sector that encompasses homes renting for more than £5,000 (US$6,823) per week, and landlords can expect to benefit. During the third quarter of the year, there were 45 super-prime homes rented in the capital—up from 34 […]