Mansion Global Daily: Predicting U.S. Market Rebounds, U.K. Property Industry Requests Stamp Duty Holiday Extension, and More
The U.S.’s Single-Family Housing Market Expected to Rebound Next Year
Real estate market conditions and values holding up much better than predicted six months ago, says Urban Land Institute. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
For a Truly Unique Home, This Swedish Water Tower Is Hard to Beat
The home comes with an opportunity for income from telecommunications companies. Read More
TAX TALK
Will a Brookline, Massachusetts, Buyer Have to Pay an Increased Tax?
A real estate transfer fee has been proposed for sales over $500,000, but changes are unlikely to be swift. Read More
NEWS BITES
Hong Kong Developer Raises Prices After Apartments Sell Out in Two Weeks
Property developer New World Development priced the second phase of its newest residential project on top of Tai Wai Station in Hong Kong’s New Territories neighborhood 4.8% higher than its first phase, after it sold out in under two weeks. The average price for the new units at The Pavilia Farm is HK$19,838 (US$2,559) per square foot, up from HK$18,921 in the first phase. The apartments start at HK$5.73 million. South China Morning Post
U.K. Property Industry Requests Stamp Duty Holiday Extension
Members of the U.K. property industry have collectively sent Chancellor of the Exchequer Rishi Sunak a letter requesting the current stamp duty holiday be extended by six months. They say delays to the mortgage, conveyancing, and surveying processes, brought on by a Covid-related backup, could result in some buyers missing out on the current holiday, which allows buyers to skip paying a stamp duty on the first £500,000 (US$646,258) of a property. "We are concerned that consumers continue to offer on properties expecting to benefit from the SDLT rate reduction but in reality they may be too late," they said in the letter. PropertyWire
Former Colorado Ranch of Oliver Stone Lists for $24.5 Million
A 1,418-acre Colorado ranch previously owned by Oliver Stone, the Oscar-winning filmmaker who directed "Platoon" and "Born on the Fourth of July," is asking $24.5 million. The property is now being sold by Lyle Berman, a professional poker player who has won three World Series of Poker championships. The ranch includes a seven-bedroom, 10-bathroom main house; a 32,000-square-foot equestrian facility with an apartment; a ranch manager's cabin; two guest houses; the original homestead building; and a secluded cabin atop a mountain. Architectural Digest
Boston’s Hot Real Estate Market Not Expected to Cool Regardless of Election Outcome
The fundamentals around Boston’s hot housing market mean the city is unlikely to be strongly impacted by the presidential election’s outcome, experts say. Neither Donald Trump nor Joe Biden are expected to drastically alter the low-interest-rate environment. And even Covid-related economic uncertainty hasn’t slowed down Boston’s limited housing supply problem, caused by a combination of restrictive zoning in the suburbs and low density in Boston’s urban core. The supply crunch caused real estate prices to soar 53% between 2009 and the beginning of 2020, according to the Brookings Institution. Boston.com
AROUND NEWS CORP
Buying a Home During Coronavirus [The Wall Street Journal]
Edinburgh Makes Capital Gains on Property [The Times of London]
Irving Berlin’s Storied Manhattan Penthouse Sells for a Song [New York Post]
Kimberly Guilfoyle Reportedly Selling Her NYC Apartment for $5M [realtor.com]
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