U.S. Inventory Grew at Record Pace in July
However, new listings slowed, indicating some potential sellers are on the fence. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Triplex Penthouse Atop a New 20-Story Building on Manhattan's Billionaires' Row
Rooftop terraces offer an outdoor kitchen and iconic Central Park and Fifth Avenue views. Read More
SMART HOMES
Smart Star Gazing: The Highest-Tech Telescopes for Exploring the Universe
Devices will that get you a closer look at the universe. Read More
NEWS BITES
Prices Skyrocket for Larger Luxury Homes in Shanghai
Prices of luxury homes in Shanghai priced at 10 million yuan (US$1.5 million) and up have been spiking, with some owners raising prices by as much as 1 million yuan overnight. The increases are a knock-on effect of the city's stringent recent Covid-19 lockdowns, which have driven buyers to prioritize larger properties. "The demand for big flats in good locations is going unmet," said You Liangzhou, owner of the Baonuo property agency in Pudong. "In many cases, several buyers have had to bid for the same property, giving owners the opportunity to raise prices." South China Morning Post
Hong Kong Officials Unlikely to Waive Stamp Duty on Home Purchases
In spite of recent comments from a top government advisor indicating that such a policy was under consideration, Hong Kong officials have confirmed that there are no current plans to relax the stamp duty on home purchases. "Regarding reports that the government is considering the relaxation of stamp duties for property, the government clarifies that there has not been discussion on the matter, and points out clearly that there are no relevant plans," said an official statement. Local developer shares had briefly spiked following the initial comment, then pared gains following the government's clarification. Business Times
Condo Owners in Collapsed Surfside, Florida, Tower Hit With $800,000 Total Tax Bill
Following the collapse of the Surfside condominium tower in 2021, Florida state legislators forgave condo owners' tax bills for the year. For 2022, however, tax bills are expected to go out to the 136 unit owners in the nonexistent building, for a total of $787,000 based on the land's assessed value of $41.3 million. Individual tax bills will vary depending on unit size, but are expected to average $5,785. Tampa Bay Times
Nunawading, Australia, Home Sells at Auction for First Time in 61 Years
A four-bedroom mid-century home in Nunawading, Australia, sold at auction over the weekend to a winning bid of A$1.35 million (US$944,523). Prior to the auction, the same family had owned and resided in the property since its construction in 1961. "The open-plan extension was ahead of its time and the mid-century style appealed to a lot of buyers," said agent Belinda McDiarmid of Barry Plant Blackburn. realestate.com.au
AROUND NEWS CORP
An Oceanfront Compound on Southampton's Gin Lane Relists for $150 Million [The Wall Street Journal]
Still Unfinished After 17 Years, $7M Castle Von Frandsen in Idaho Needs a Royal Touch [Realtor.com]
Influencers Have Turned This Low Key Island Into Summer's Hottest Destination—and Locals Are Pissed [New York Post]
The Best Homes in the World With a Slide [The Times of London]
