Mansion Global Daily: Expats Invest Back Home, Home Prices in the Middle East May Have Hit Bottom, and More

August 2, 2021 Admin

From Ireland to Singapore, Expats Are Snatching up Property Back Home

The pandemic has normalized remote work and raised the appeal of living near loved ones. Read More

BY THE NUMBERS

TRENDING TODAY

LISTING OF THE DAY

The Architect Behind Apple’s Iconic Glass Stores Designed This Minimalist Miami Beach House

The owners wanted the property on San Marino Island to feel like a boat on the water, and included a raised infinity pool. Read More

THE INSIDERS

Young Professionals Have Accelerated Plans for Second Homes During Pandemic, Says Maryland-Based Architect

Durable materials, flexible space and maintenance-free environments are top priorities. Read More

NEWS BITES

Home Prices in the Middle East May Have Hit Bottom, Says Investment Firm

Home prices in the six-member Gulf Cooperation Council may have bottomed out, and the total transaction value of residential properties for this year is expected to surpass 2019 levels, said Kuwait’s Kamco Investment, an asset management arm of United Gulf Bank. The six member countries include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. “Saudi Arabia real estate prices recovered, driven by government support in the form of mortgage financing and housing initiatives,” Kamco said. Bloomberg

Olympic Sprinter Dean Capobianco’s Sydney Home Sells in 10 Days

Former Olympic sprinter Dean Capobianco, and his wife, Jules, has sold their home in Clovell, a suburb of Sydney, for more than A$5.4 million (US$4 million) just 10 days after they put it on the market with a guide price of A$4.5 million. Mr. Capobianco, 51, who represented Australia in the 1992 and 1996 Games in the 200 meter race and who was appointed the chief executive of the geospatial data company Geoscape Australia earlier this year, bought the home for A$1.46 million in 2009. realestate.com.au

U.S. Tenants Face Challenges as Federal Eviction Moratorium Expires

As the U.S. lawmakers failed to extend the nationwide eviction moratorium that expired on Saturday, many tenants who are falling behind on their rental payments and utilities might be displaced from their homes, possibly “ushering in the worst housing crisis since the Great Recession,” legal experts say. The moratorium, put in place by the Centers for Disease Control and Prevention in September 2020, has helped roughly 2 million people keep their homes during the pandemic. Eviction moratoriums will remain in place in New York, New Jersey, Maryland, Illinois, California and Washington, D.C., until they expire later this year. Columbia Basin Herald

Two Condos at Los Angeles’s Pendry Residences West Hollywood Sell, One for a Record Price

Two condo units at Pendry Residences West Hollywood, a 40-residence hotel-condo developed by Montage Hotels & Resorts off Sunset Boulevard of Los Angeles, sold for more than $13 million each. For the smaller, 2,681-square-foot apartment, the sale translated into $4,848 per square foot, the highest unit price ever for the city’s condo market. Los Angeles Times