Mansion Global Daily: San Francisco Sales Price Falls for the First Time in 10 Years

London Apartments Are Popular Again, San Francisco Sales Price Falls for the First Time in 10 Years, and More

Mansion Global's daily round-up of the latest luxury real estate news from around the worldOriginally Published Feb. 13, 2023

Photo: Utsav Shah / Unsplash

Photo: Utsav Shah / Unsplash

After falling quickly out of favor during the height of the pandemic, flats are back in central London's most well-to-do neighborhoods, according to a report Monday from Knight Frank.

During the last quarter of 2022, apartment sales accounted for 74% of deals across prime central London, the highest level recorded in three years, the estate agent and property consultant said.

Photo: Getty Images

"Returning international buyers can see there has been very little change in prices over the last two to three years and that is driving demand for flats," said Stuart Bailey, head of prime central London sales at Knight Frank, in the report. "Buyers are particularly motivated in more central areas and at higher price points."

Not only has there been little change over the past few years, but average prices across the prime center of the city are below their most recent peak in August 2015. While house buyers are facing prices 10% below that benchmark, the difference is more significant for apartment buyers, who are seeing prices 18% below that 2015 high...Read More

Photo: Getty Images

Photo: Getty Images

A Blufftop Japanese-Inspired Mansion in the Heart of Honolulu Gets Wide-Angle Ocean ViewsThe remodeled, five-bedroom home is being sold furnished, with luxury designs by Hermes, Fendi, Mies van der Rohe, B&B and Louis Vuitton. Read More

‘People Look Better in Pink Lighting,’ Says This Interior DesignerBy-the-book design is out, and individuality is in, according to Crystal Sinclair, who recently unveiled a 1970s-inspired unit at 393 West End Avenue in Manhattan. Read More

Melbourne Mansion Inspired by a Paris Museum Hits the Market for A$9.2 Million

A limestone mansion in Toorak, an affluent suburb of Melbourne, Australia, that was inspired by Paris's Petit Palais museum has hit the market with a price guide between A$9.2 million and A$10 million (US$6.4 million and US$7 million). The three-bedroom house features French oak chevron floors, French gutter cornices and handmade European doors. Additionally, a geometrical staircase with a wrought-iron balustrade and a formal dining room were also modeled after those at the Petit Palais. The property has a four-car garage, solar-powered swimming pool and an outdoor kitchen with a built-in bar. realestate.com.au

Dublin Rents Soared Amid Shortage of Supply

The average rent in Dublin rose 13.7% in 2022 to €2,300 (US$2,466) per month amid a shortage of rentals across the country, according to a report from Daft.ie, a property portal. As of Feb. 1, there were 1,096 homes available to rent, down 20% from a year ago and down 25% compared to the average level during 2015-19. While there are regional differences, all parts of the country are experiencing year-over-year increases in asking rents, the report said. Irish Mirror

Amsterdam Aims to Solve Housing Crisis by 2040

Amsterstam is aiming to solve its housing crisis by 2040 by building more homes and tackling vacancies, the mayor and city council said on Monday. The existing homes "must become affordable again, be of good quality, and not be used as a revenue model," head of public housing Zita Pels said. Furthermore, the city committed to building 7,500 annually, prioritizing housing for seniors and families. They’ll also build between 2,500 and 3,000 temporary homes where people can live for a maximum of 15 years. NL Times

San Francisco's Average Sales Price Fell Below Asking for the First Time Since 2012

The average sales price in the San Francisco Bay area fell below the average listing price last year for the first time since early 2012, the latest Redfin data show. The average sale-to-list percentage—which denotes widespread bidding wars if over 100%—was 99.2% in December, the first time it fell below 100% since February 2012. During the pandemic peak in April 2022, the ratio was 111.6%, meaning a typical home sold for 11.6% above its listing price. The Real Deal

Casa Mateo is located at one of the highest points of Punta Garrobo in #Zihuatanejo. The east and west views towards the Pacific Ocean and the cliffs within the jungle are maximized to generate an integration of the #house with its environment. https://t.co/GpvP1rvksm pic.twitter.com/FtyByJFIWc

Three in Four Homeowners Fear Fixed Rate Cliff Due to RBA Actions [news.com.au]

Bank of Mum and Dad Doles out £14 Billion a Year to Help Adult Children [The Times of London]

The Housing Market Warms up, but This Twist Could Plunge It Back Into a Freeze [Realtor.com]

J. Lo and Ben Affleck Finally Find California Dream House [New York Post]