Mansion Global Daily: Dubai’s Luxury Home Prices Set to Rise
Santa Fe Approves Mansion Tax for Homes of at Least $1 Million
Buyers of homes with a price tag of $1 million or more in Santa Fe, New Mexico, will soon be required to pay a so-called mansion tax. Residents overwhelmingly approved the tax in a vote on Tuesday. An additional 3% excise tax will be levied on high-end homes, with the revenue set to fund affordable housing. The tax, supported by more than 73% of voters, will be applied to the amount above the $1 million threshold. Business Insider
Dubai’s Luxury Home Prices Set to Rise by 5% in 2024
Property prices in Dubai are set to continue to grow in 2024 as supply remains limited and demand has increased from markets such as China and India, according to a report this week from Knight Frank. Luxury enclaves, including the Palm Jumeirah, Emirates Hills and Jumeirah Bay Island, are forecast to see values rise by 5% next year, while prices in other segments of the residential market will have more subdued growth of 3.5%, according to Knight Frank. The National
‘Flintstones’ House in Sydney Lists for A$2.25 Million
Meet the Flintstones—in Sydney. A three-bedroom home in the Australian city that could have belonged to Fred and Wilma Flintstone is being auctioned this month with a guide price of A$2.25 million (US$1.45 million). Known as the Hollander House, the curving residence was built by architect David Hollander in the late 1960s. It was created using hand-formed ferro cement, giving it its caveman vibe. The interiors were also handmade, and the home boasts wide ocean views. realestate.com.au
Value of Building Permits Spiked 37% in British Columbia
The cost of building a home in British Columbia, Canada, is growing. The province has seen the biggest jump in the value of residential construction permits, which climbed 37.2% month over month in September, according to Statistics Canada. Vancouver, Kelowna and Victoria represent 79.9% of the new housing projects authorized in the province last month, the report said. The report comes as the federal government pushes for more housing construction. BNN Bloomberg
