Mansion Global Daily: Summer Buyers Have Money and Will Travel, Rentals to See


Summer Buyers Willing to Pay More, Buy Farther From Work

More home shoppers have accelerated their search, too, according to realtor.com. Read More

BY THE NUMBERS


TRENDING TODAY


LISTING OF THE DAY


One of the Oldest Townhouses in Mayfair Has Gotten a Makeover

The home has an enviable amount of outdoor space for a home in Central London. Read More

DESIGNER’S CORNER


Designing a Home Gym With Distinction

It’s all about mixing form and function. Read More

NEWS BITES

New U.K. Laws Look to Expedite Construction, Expand Property Footprints

New laws before the U.K. Parliament aim to cut through the red tape around revitalizing town centers and personal property. The new guidelines, which would take hold in September, would no longer require full planning applications to demolish and rebuild unused buildings. Furthermore, they would allow for homeowners to add up to two additional stories to their properties via a fast-tracked approval process. The goal of the changes, according to Housing Secretary Robert Jenrick, is to “help transform boarded up, unused buildings safely into high quality homes at the heart of their communities.” PropertyWire

Rentals to See Higher Demand in Saudi Arabia Due to VAT Hike

According to international property consultancy JLL, a hike in the value-added tax (VAT) in Saudi Arabia should spur increased demand in the country’s rental market. In May, in response to economic contraction brought on by declining oil prices and the coronavirus pandemic, the Saudi government tripled the VAT on all purchased properties from 5% to 15%. “We expect to see a shift towards the rental market as it becomes comparatively more attractive and cost competitive,” said Dana Salbak, head of Research for JLL MENA. The National

Huizhou May Benefit From New Regulations in Shenzhen

New regulations put in place to rein in China’s hottest property market, Shenzhen, may prove to be a boon for nearby Huizhou. The southern Chinese city, which is gaining a reputation as an “investor’s paradise,” does not yet face the elevated prices which mark the Shenzhen real estate market—but it may well be on its way. Huizhou experienced the second largest price gains in mainland China between March and June, with property prices jumping 6.7%. Improving infrastructure is also adding to the appeal of Huizhou, as travel time between the city and Shenzhen will be cut from 1 hour to 30 minutes with the completion of the Ganzhou-to-Shenzhen high-speed rail link. South China Morning Post

Former Estate of Fanny Brice Hits the Market for $62 Million

Old Hollywood is on offer in the exclusive Los Angeles neighborhood of Holmby Hills as the former estate of early radio star and comedienne Fanny Brice has come back on the market for $62 million. Brice owned the Georgian-style, four-bedroom, five-bathroom home from its construction in the 1930s until her death in…



Read MoreMansion Global Daily: Summer Buyers Have Money and Will Travel, Rentals to See

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