Megaproducer Joel Silver slashes the price of his hot pink LA home by $23m, luxury villa sales in Marbella continue to surge, and more

Megaproducer Joel Silver slashes the price of his hot pink LA home by $23m, luxury villa sales in Marbella continue to surge, and more
Megaproducer Joel Silver slashes the price of his hot pink LA home by $23m, luxury villa sales in Marbella continue to surge, and more

Producer Joel Silver slashes price of LA mansion to $52 million

The home was custom designed by the late Mexican architect Ricardo Legorreta. Read more

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A turnkey beachfront villa on the Pacific coast of Costa Rica

The 18th-century Spanish Colonial-style home features a pool and spa, outdoor kitchen, lots of antiques, and easy beach access. Read more

TAX DISCUSSION

Does it pay to own multiple homes in Canada?

Higher costs on securities transfers, capital gains and foreign ownership make this a more costly proposition from a tax standpoint. Read more

NEWS

Sales of luxury villas in Marbella, Spain continue to rise

The number of sales of luxury villas, those priced above 4 million euros ($3.9 million) in the coastal city of Marbella, in southern Spain, has surged over the past two last years. There were around 150 luxury sales from mid-2021 to mid-2022, compared to 120 recorded during the same period the previous year, according to the latest data from real estate agency Panorama. In 2018, the figure was around 65. “Marbella is considered a safe haven for property purchases in times of uncertainty, not only for its unique qualities but also because of its location,” the report states. Log On

Australian home values ​​plummet due to rising interest rates

Property values ​​in some of Australia’s biggest markets fell significantly as the country raised interest rates to fight inflation. In August, the median sale price in Sydney fell 2.5% year-on-year to A$1.3 million (US$880,000), marking the fifth consecutive month of decline. Since April, the value of typical Sydney homes has fallen by an average of A$927 a day. The situation is similar in Melbourne, where the median selling price fell 1.5% in August year on year and 4.4% on a quarterly basis. “It’s hard to see house prices stabilizing until interest rates bottom out and consumer sentiment starts to improve,” said CoreLogic research director Tim. Lawless. Domain

The Japanese real estate market is attractive for private capital

Japan’s increasingly stabilized real estate market is attracting a new wave of investment from large private equity firms. Major players such as KKR & Co. have shifted their focus from other assets to real estate. “The Japanese market presents a huge opportunity,” said David Cheong, managing director of KKR. The company announced a 230 billion yen ($1.64 billion) acquisition of a Japanese real estate asset manager in March. Hong Kong-based Baring Private Equity Asia has also positioned Japan as a top priority, said Atsushi Takeiri, head of real estate in Japan. Blackstone has already built a thriving real estate investment business in Japan. Business hours

The housing market in Tampa Bay, Florida is stabilizing

Although the housing market in Tampa Bay, Florida still remains competitive, there are signs that it has peaked, according to industry insiders. The average number of offers for a home on the market has now fallen to two or three offers, down more than half from just a few months ago, estate agents said. “Now that the market has changed a bit, buyers can walk into a property without worrying that there will be 20 or 30 offers,” Tampa agent John Hudson said. Fox 13

AROUND NEWS CORP

As US dollar soars, US buyers splurge on European homes [The Wall Street Journal]

House prices have just taken their biggest plunge in six years: is now the best time to buy? [Realtor.com]

40 ways to protect your home from the cost of living crisis [The Times of London]

Australia’s property ‘collapse’ is accelerating, says Commonwealth Bank [news.com.au]

. Mansion Global Daily megaproducer Joel Silver reduced price house pink bright million dollars sales villas luxury Marbella continue to increase again

. Megaproducer Joel Silver slashes price hot pink home #23m luxury villa sales Marbella continue surge

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