North American luxury property prices in key cities rose 14.5% in a year, according to Knight Frank’s Prime Global Cities Index. This represents an increase in values more than twice as high as the second best performing region, the Middle East.
After bankruptcy a year ago, Detroit has announced that it is demolishing a fifth of its buildings. The city has also launched a Building Detroit, a site offering run down homes in the area for bargain prices on the condition that buyers fix them up
Chinese investment in US real estate now accounts for nearly 1 in 4 dollars of every foreign purchase. While Canadians buy the most homes of all foreigners in the US, the value of homes purchased by Chinese buyers is much higher, at an average of $591,000.
Permanent mission of UAE to the United Nations confirms purchase of house more than a year after it initially went to market. The house, which is located on the Upper East Side of Manhattan, was sold by financier Eric J. Gleacher, the former chairman and namesake of Gleacher & Co., an independent investment bank that provides financial advisory services.