Mansion Global Daily: With Furnished Homes Prominent, US and UK Buyers Turn to Italy for Second Homes, and More

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With supply chain issues causing delays, buyers are willing to pay a premium for fully furnished homes

However, sellers must separate the furniture transaction from listing and closing price. Read more

BY THE NUMBERS


TREND TODAY


LIST OF THE DAY


1874 Philadelphia Fire Station finds new life as a stylish single-family home

Amenities include a large roof terrace, 13 foot ceilings, and a full basement with a bar and gym. Read more

NEIGHBORHOOD NOTES


Monte Estoril, Portugal, offers an upscale coastal town with a bustling seaside promenade

The resort area, filled with luxury apartments, was put on the map when the 19th-century king, Dom Luis I, established a summer residence there. Read more

NEW BITES

Beach Home listed at A $ 18 million could set new record for Palm Beach, Australia

A vacation home outside of Palm Beach, about 30 miles north of Sydney, Australia, could set a resort record if it sells above its $ 18 million guide price Australians (US $ 13.5 million). That’s a real possibility for the five-bedroom, three-bathroom mansion, according to listing agent BJ Edwards, of LJ Hooker Palm Beach. The house, located on a double plot by the sea, has been in the same family for 43 years. It offers views of the South Pacific Ocean, floor-to-ceiling windows and outdoor space on all three floors. “The views are so phenomenal it feels like you are on an ocean liner,” said the officer. real estate.com.au

Parents set to shell out £ 9.8bn to help younger generation buy homes

Almost half of first-time home buyers in the UK rely on their parents’ contributions towards the purchase, according to a report from Savills. Around £ 9.8bn (US $ 13.5bn) is expected to come from parents’ coffers in 2021, an average of more than £ 58,000 in gifts or loans with every purchase. Rising home prices have increased pressure on those saving for a deposit, according to the report. “Despite strong levels of activity and price growth in housing markets, lenders have tended to favor less risky, low-value loans, making it more difficult for new buyers to access at the market for the first time without assistance, ”said Frances. Clacy, Residential Research Analyst at Savills. City AM

US home sales jumped 7% in September

Sales of existing homes in the United States were up 7% in September from the previous month, but were down 2.3% year-over-year, according to the National Association of Realtors. Supply issues still plague the market, which saw the total housing stock decline 0.8% in September from the previous month, and 13% year-on-year. The median price of existing homes in September was $ 352,800, up 13.3% from the same period last year, and the 15th consecutive month of year-over-year increase. World Property Journal

US and UK buyers look to Italy for second homes

Italy is the top destination for US and UK buyers to find a second home, according to a September survey by Knight Frank. Citizens of these countries flock to Italian cities because of tax incentives, relatively affordable housing, and the permanent possibility for many to work remotely. Representatives from Sotheby’s and Savills have confirmed that they have sold more Italian properties in the first eight months of 2021 than in 2019 and that Americans and Brits make up the bulk of their clients. Bloomberg

AROUND NEWS CORP

Kiss Frontman Gene Simmons lists Las Vegas house overlooking the Strip for $ 14.95 million [The Wall Street Journal]

Short Sale Deadlock: Does the Previous Owner Have Any Left Behind Property Rights? [realtor.com]

‘Waltons’ star Richard ‘John-Boy’ Thomas buys from billionaire row [New York Post]

Evergrande seems to have avoided the defect. Maybe not for long. [Barron’s]


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