The Gloves Are Off: Sylvester Stallone Chops $25 Million From Los Angeles Mansion
The Stallones are ready to part with the massive home, brimming with “Rocky” and “Rambo” memorabilia, now listed for $85 million. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Windmill House Offers a Cozy, Whimsical Hamptons Home—or a Lavish Development Opportunity
This private 5-acre property in Amagansett, New York, could also accommodate a much larger residence. Read More
DESIGNER’S CORNER
Embracing Heirlooms in a Modern Space
Layer antiques alongside contemporary pieces, boldly display a whole collection, or finish and reframe keepsakes for a contemporary refresh. Read More
NEWS BITES
Market Cooling Measures Appear to Be Working in Shenzhen
Home prices in Shenzhen, the Silicon Valley of China, have risen 53% from July 2017 through March of this year, but market cooling measures enacted by the Xi administration last summer appear to be taking hold. In a bid to curb speculation, credit for home mortgages was tightened and mortgage rates were lifted—especially for second-home purchases—and as a result the “miracle” city has seen tapering home sales. Only 270 homes were sold during the Labor Day holiday from May 1-5—a 20% drop from the previous year and down from 724 property transactions in 2019. South China Morning Post
Singapore Condo Resales Hit 11-Year High
Private condo resales in Singapore jumped 7.9% in April month over month to 1,993 units sold—marking the highest number of such units sold in a month since April 2010. The volume of monthly sales also represents a 528.7% increase in transactions from the previous year, when the region was gripped by the Covid-19 pandemic. Prices for private condo sales also saw a boost with 1.5% month-over-month and 5.8% year-over-year increases. The Straits Times
Hong Kong Real Estate Bucks Gloomy Forecasts
Pessimistic predictions about the Hong Kong real estate market, driven by the coronavirus pandemic, political uncertainty and the British nationals program, have yet to pass. Despite a decline in rents, the value of property transactions more than doubled in April in the city, according to data from the Land Registry. The average price is only 2% lower than its historical high, and brokerage Centaline estimates that home prices in the secondary market have reached their highest level in 23 years. Quebec News Tribune
Professional Bidders Are Becoming Popular in Australian Home Auctions
In Australia’s highly competitive and increasingly expensive home auction market, home buyers are turning to professional bidders to help them secure a property. Often licensed real estate agents, professional bidders are unfazed by what can be an intimidating and emotionally charged auction environment. “We use a range of different strategies and we also take the emotion out of it for the buyer,” said Barry Feldman, a licensed real estate agent and auctioneer. “The client can give me their reserve and then stay in the car. I don’t have any emotion when I bid because it’s not my money.” Domain
AROUND NEWS CORP
John Russell Pope’s Charlcote House in Baltimore Lists for $4.995 Million [The Wall Street Journal]
How to Renovate Tight Living Quarters (Without Cutting Corners) [realtor.com]
Housing Is a Better Long-Term Investment Than Stocks, Gold, Americans Tell Gallup [Barron’s]
Signs the Housing Market Is off the Boil [news.com.au]
Originally Appeared On: https://www.mansionglobal.com/articles/mansion-global-daily-stallone-slashes-his-asking-price-professional-bidders-are-becoming-popular-in-australia-and-more-148311