Mansion Global's daily round-up of the latest luxury real estate news from around the world
Mansion Global Daily
 | | Many condo owners must pay up for building repairs under new regulations—and that could cause values to plummet. Read More |
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| MEMBER MESSAGE: Mansion Global Boutique |  | How To Create a Spa-Style BathroomElevate your space with the right accessories. Learn More |
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Listing of the day |  | | The sprawling property is where the Emmy-winning musician recorded much of his prolific body of work. Read More |
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Mansion Global Boutique |  | | Fall calls for warm and cozy tones taken straight from nature and of course a nod to the season's ripest bounty. These finds seize the fall vibe in the chicest way possible. Read More |
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News Bites | Millennials Struggling to Buy Homes in California | Millennials in California are some of the least likely to own homes in the U.S., according to a report from Apartment List using U.S. Census data. The state's large metro areas have some of the lowest percentages of millennial homeowners in the country, with the smallest share coming in Los Angeles, where just 20% owned homes in 2022. SF Gate |
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Australians Spending 48% of Their Income on Mortgages | Australians are spending 48% of their household income on home loan repayments. And conditions are even tighter in New South Wales, where home loan repayments amount to 57.9% of family income, according to the Real Estate Institute of Australia's Housing Affordability Report for the second quarter. "The impact of rising inflation and interest rate increases has never been more apparent," said the institute's president, Leanne Pilkington. Domain |
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Indian Mogul Buys Residential Convent in London for £21 Million | Apparel tycoon Harish Ahuja, father-in-law of Bollywood star Sonam Kapoor, paid £21 million (US$27 million) for an eight-story convent in London's Notting Hill district, in one of the city's largest residential deals of the year. Kapoor and her husband, Anand Ahuja, plan to use part of the property as a home. Bloomberg |
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Bel-Air Mansion Sells for Around $112 Million | George Ruan, a co-founder of online coupon and discounts company Honey, has sold his Los Angeles mansion for around $112 million—one of the biggest deals to ever close in the city, according to people familiar with the deal. The identity of the buyer is not known. Ruan did not respond to a request for comment. The deal is a rare bright spot in a market that has been hobbled by a new Los Angeles mansion tax, rising interest rates and outward migration to lower tax states. The Wall Street Journal |
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13 Beach Cities Where It's Getting Easier to Buy a Home—and Possibly Cheaper, Too [Realtor.com] |
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Property Sell-Off: Investors Bailing on Rentals in Australian Cities Shock New Move [news.com.au] |
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