Billionaire Bill Koch's 52-acre Aspen estate, Elk Mountain Lodge, sold for $33.515 million at auction after nearly two years on the market. Originally listed at $125 million, the sale reflects a significant price reduction and shifts in the ultra-luxury housing market.
The US housing market is experiencing a worsening affordability crisis, with June's pending home sales falling 5.4% and national median home prices hitting a record high. Builder sentiment also dropped in July, marking 15 consecutive months of negative outlook, driven by high mortgage rates, costly land, and labor shortages.
A family in England faced a last-minute £15,000 price drop by buyers, highlighting the rare but growing issue of 'gazundering'. The Conveyancing Association calls for urgent government reforms to tackle this and other property market problems, currently slated for 2029.
US existing home sales fell in June due to high mortgage rates and record prices, despite job gains. Inventory remains tight, pushing median prices to a new high of $440,600. Sales are strongest at the higher end of the market.
Chinese e-commerce firm Pinduoduo signs agreement for e-commerce industrial park in Xiongan New Area, Hebei province, marking its first property acquisition, aiming to hire over 5,000 employees.
A five-bedroom flat at 21 Borrett Road in Hong Kong's Central district sold for HK$126,000 per square foot, setting a new high for the development and this year's new home sales. Developer CK Asset has now sold four mansions at the project for HK$1.05 billion.
Hong Kong property transactions surged to a four-month high in April, while the value and volume of home sales hit their highest level in 24 months, according to the latest official data, underscoring the resilience of the city’s real estate sector amid uncertainties over interest rates and the US-Israel war on Iran. A total of 8,692 transactions across homes, offices, shops, car parking spots and industrial spaces were concluded last month, up 12.3 per cent from March’s 7,737 deals, according...
