Home Builders Are Turning to Natural Materials to Get Around Supply Chain Problems
There are advantages to buying homes made with natural materials, but expect to pay a premium. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
Bask in Waterfalls or Hammam at a 14-Bedroom Villa on Spain’s Balearic Islands
The 2-acre landscaped property also features a pool, a tennis court, a sports center, golf course views, a party lounge and a separate spa. Read More
NEIGHBORHOOD NOTES
Mineola Offers Large Lots and Seclusion Within Commuting Distance of Toronto
The affluent suburb in Mississauga, Canada, has been in high demand during the pandemic. Read More
NEWS BITES
Canada Home Prices Could Drop 10% as Inflation, Mortgage Rates Rise
Rising fixed and variable mortgage rates, accelerating inflation after Russia’s invasion of Ukraine and worsening housing affordability are causing the Canadian housing market to cool after two years of rapidly accelerating prices. A drop of about 10% in home prices from peak to trough is predicted by Pedro Antunes, chief economist at the Conference Board of Canada. “People are going to start taking their vacation trips south and perhaps not be ready to put quite as much into a new mortgage,” he said. U.S. News and World Report
Hockey Legend Mario Lemieux Lists Quebec Castle for C$22 Million
Canadian-born hockey legend Mario Lemieux has listed his 5-acre estate on the shores of Lake Tremblant in Quebec for C$22 million (US$17.6 million). Dubbed Château Fleur de Lys, the 17,000-square-foot custom residence features eight bedrooms, 13 bathrooms, 17 fireplaces, a spa, a home theater, wood beams imported from a castle in India, and its light fixtures and other finishes by designers Arte de Mexico in California. Considered one of the NHL’s greatest players, Mr. Lemieux, 56, spent his entire career with the Pittsburgh Penguins from 1984 to 2006. He is now the team’s principal owner and chairman. The Vancouver Sun
Incoming South Korea President Looks to Cool Country’s Red-Hot Property Market
The president-elect of South Korea, Yoon Suk-yeol, has warned about overtaxing multiple home owners in the country. His transition team will meet with ministries of the outgoing government to discuss how to accomplish Mr. Yoon’s campaign pledge to cool the country’s red-hot property market by deregulating the market and finding more land on which to build homes. “Behind the runaway home prices lies Moon’s policy that tried to go against the market fundamentals,” he said at a meeting ahead of his May 10 inauguration. The Korea Herald
Penthouse in Sydney Suburb Sells for A$2.5 Million Over Guide Price
A penthouse in the Sydney suburb of Darlington has sold for A$14.2 million (US$10.7 million), a whopping A$2.5 million over its guide price. It’s also A$4.3 million more than what the sellers paid for it two years ago. The three-bedroom, three-bathroom apartment boasts an open-plan living and dining area, a modern kitchen, a library zone with a fireplace, a primary bedroom suite with a sitting area and an office, and a four-car garage. realestate.com.au
AROUND NEWS CORP
Carlos Santana Sells Hawaii Vacation Home for a Smooth $11.9 Million [The Wall Street Journal]
Hexton Manor, an 800-Acre Chilterns Estate With Its Own Trout Lake, Is on Sale for £15M [The Times of London]
Cottage That Inspired Snow White’s Classic Movie Home Lists for $1.39M [New York Post]
Proposed Change Could Make Home Ownership Harder to Attain [news.com.au]
