Israel’s luxury real estate market turns down; Dubai luxury developer admits to 60% default rate; the International Herald Tribune moves to the New York Times; Telluride real estate sales down 46%; another golf community goes under; a Boston firm closes on $43.5 million deal in St Paul; Luxury Yacht Repossesions Rising and Long Islanders cut back on luxuries.
Haaretz reports that luxury property prices in the Sharon have fallen as much as 25% in a few months.
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The International Herald Tribune reports that “Investor buys majority stake in NY’s Flatiron building.” Only 7 months later than we reported exactly the same thing – More Manhattan real estate sold to foreign buyer. Oh, well, you can’t be on top of everything all the time. They suspect, as did we seven months ago, that there are plans for a luxury hotel. Although, things have changed in the interim and it may be decided that what New York doesn’t need is another up-market hotel condominium complex. We shall see.
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Gordon Brown says Britain's economic woes are from America
The luxury property blog has already made it’s prediction for the luxury real estate market in 2009 – no recovery in the market until such times as the financial services sector recovers and becomes more accountable. So, this is a look at other people’s opinions and predictions for 2009.
More on Predictions on the US and UK luxury property markets 2009
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Luxury real estate news from around the world. Ups, downs, new developments and disasters abound.
The Wall Street Journal reports on a new luxury development in downtown Houston. The WaterLights District.
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The Calgary Herald reports that the US mortgage crisis is hitting Costa Rica’s vacation home market. Sales of the high end are still strong (Albeit after a large drop in prices) but the less expensive condos ($100-$200,000) are not selling. Slump hits vacation homes in Costa Rica
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The Luxury Property Blog looks at Manhattan, where the luxury real estate market has created a new median record for apartments in Manhattan despite falling sales and growing inventory
Much is being made of the latest news that median apartment prices have reached a new record in Manhattan. But what does this actually mean? A selection of news articles covering the Manhattan real estate market. In no particular order.
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