Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

International

jchancellor-FAypfDUnLy

Michael Hintze gets Rich List billionaire status, but Urs Schwarzenbach puts him in the shade with $24 million private art gallery

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A lawned courtyard 202 square metre garden plot, which fronts ordinary Chelsea houses in London, has been sold at Savills International auction for £84,000 (AU$151,000) to an international buyer
"Little bits of London, such as this, are in scarce supply and people want to get their hands on their own little piece of Chelsea," Savills auctioneer Chris Coleman-Smith said.
<a href="https://www.rightmove.co.uk/property-for-sale/property-43982548" target="_blank">The 0.05 acre plot of land with sundial</a>, accessed from Sprimont Place, sold for the equivalent of £1.68 million per acre.
It has no planning permission and no right of way, situated in Chelsea, one of Central London’s most affluent and highly sought after residential areas.
"City environments can easily change and so this could be a very long term investment bought with grandchildren and inheritance in mind – who knows what it might be possible to do with it in 20 years time," Chris Coleman-Smith said.
The garden was sold only eight months ago for £53,000 (AU$94,000).
Meanwhile Alan Titchmarsh’s departure as host of the BBC coverage of the Chelsea Flower Show continues to intrigue.
He has revealed he stepped down hurt, because his role as lead presenter was given to fellow gardener and Daily Mail columnist Monty Don.
Titchmarsh was the unofficial face of Chelsea Flower Show for three decades. 
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Chelsea, London flower garden plot with sundial sold as keepsake

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Buyers looking to stake their claim to Romania’s Bran Castle finally have the chance.
The castle was formerly the home of Vlad “The Impaler” Tepes, the member of the House of Draculesti who is said to have inspired Bram Stoker’s Count Dracula. However, rather than ruling the castle and terrorising local villagers, Vlad is thought to have stayed prisoner there for two months in 1462 after being captured by the Hungarian army. Also known by his patronymic name Drăculea, Vlad earned a reputation for torturing and maiming his victims. 
The castle is owned by Archduke Dominic Habsburg and his sisters, Elizabeth and Maria Magdalena. The Habsburgs were expelled from the castle when Dominic was 10 in 1948 when the area came under communist rule. Bran Castle was returned to the family in 2007.
But now it seems that maintaining the drafty old castle is becoming quite a drainer for the Habsburgs. Dominic, Elizabeth and Maria Magdalena are now all in their 70s and faced with operating the sprawling castle as a tourist venture. The family attempted to sell the castle in 2006 to the Romanian government for a reported A$94 million dollars, with no luck. They tried again to put the castle on the market in 2007, but again with no biters.
The castle has 57 rooms, with uninterrupted mountain top views. However, though the reported 560,000 visitors that walk through Bran Castle every year have access to bathrooms, there are none in the residential wing of the castle. They were reportedly ripped out by the communists when the castle was seized.
According to Fox News, current selling agent Mark Meyer from New York’s Herzfield and Rubin refuses to discuss the price. Meyer told the Telegraph that the Habsburgs are keen to see the castle continue as a tourist destination once it is sold.
“Archduke Dominic and his family care very much for the castle, and it's in far better shape now than it was when run by the government," Meyer said.
"The aim, though, is to take the whole thing a stage further, re-route the road and make Bran a destination, the kind of place people will stay for two or three days."
"We'd like whoever buys the castle to continue running it as a tourist destination. This isn't just a national monument, it's the largest and most significant attraction in Romania," he added.
Photo courtesy of Wikipedia/Creative Commons.
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jrichardson-uRX5hFdKfN

Dracula’s Transylvanian haunt up for sale

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Shane Warne and his former fiancé Liz Hurley have yet to decide what to do with their £6 million 13 bedroom UK purchase, Donnington Hall near Ledbury.
Donnington Hall is an <a href="https://www.propertyobserver.com.au/news/shane-warne-and-liz-hurley-to-renovate-their-uk-home-mostly-adding-ensuites/2013061662307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">impressive property</a> on 21 acres of woodland.
{qtube vid:=Zzjkjm7fz1g}
Together for almost three years, Shane Warne and fiance, Liz Hurley had started renovations before they parted ways in November 2013.
She has told the latest Hello magazine the future of Donnington Hall was "up in the air."
Hello Online does say Hurley "hints that she and Damian (her 12 year old son) may continue to live there."
The grade II-listed Donnington Hall is a Georgian mansion on the Gloucestershire-Herefordshire border.
She already owned in Gloucestershire.
<img src="/images/stories/2012/08/donnington2.png" width="470">
Donnington Hall (pictured above and below) is an impressive property that boasts a tennis court, fishing lake, Edwardian stables and open field, and housekeeper accommodation.
<img src="/images/stories/2012/08/donnington3.png" width="470">
It was in late 2011 when the local paper, the Ledbury Reporter revealed the house-hunting rumours when the couple strolled into Greggs the bakers on the High Street.
"The town was buzzing with rumours the couple were looking for property as Liz ordered a <a href="https://www.malverngazette.co.uk/news/9895327.Liz_and_Shane_buy___6m_mansion_near_Ledbury/" target="_blank" rel="nofollow">custard slice and Shane, two sausage rolls</a>," the Malvern Gazette wrote.
Donnington was bought without any registered mortatge in 2012.
<a href="/news/vic/shane-warne-secured-10-85-million-in-kilkerran-sale-so-no-brighton-record">Shane Warne sold his Brighton home</a>, Kilkerran late last year for $10.85 million, and is reported to have spent around $4 million on a four bedroom, two bathroom Kinane Street, Brighton home.
The heritage-listed property, Kilkerran was bought for $8.55 million in 2009 with his then-wife Simone Callahan.
It had been completely renovated to include a wine room, a gym, basement garage, tennis court, cinema and a pool with Warne's cricket number, 23, inscribed on the bottom of the pool.
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Shane Warne and Liz Hurley yet to decide on Donnington Hall mansion future

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Just in the past few weeks there has been a rapid turnover in prestige homes holding the mantle of the USA's most expensive residential property.
The latest was over the weekend when The New York Post reported the reputed US$147 million million sale of an 18-acre East Hampton property.
Property Observer lists the top five house sales with their nine figure prices. And throws in those that just fell short.
<ol>
<li>
The East Hampton beachfront estate of the Tweedy, Browne Company head Christopher H. Browne and his landscape architect partner, Andrew Gordon has been sold for the reputed $147 million. Browne left his entire estate to Gordon following his 2009 death at the age of 62, and Gordon, his partner of 10 year, lived at the property until his death from cancer aged 52 last September.  The New York Post reports that hedge fund manager Barry Rothstein of Jana Partners bought the 18-acre East Hampton property. It was 1996 when Browne bought the oceanfront estate which then had a 1950s house on the dunes. There is now an English country house in the center of the property, surrounded by formal English gardens and only remotely connected to the sea. The garden, with apple orchard near the road, and the ponds pre-date the house as on the purchase there had been an arrangement with the property’s previous owner, by which she could stay in the house for several more summers. The couple built <a href="https://www.nytimes.com/2007/10/04/garden/04chris?pagewanted=all&amp;_r=0" target="_blank" style="line-height: 1.3em;">a temporary 35-foot-tall observation platform</a> in the middle of the property to help them formulate their ideas for the overall design.  Gordon inherited the estate but only after a dozen of Browne's relatives, staff and friends dropped their court challenges to his 2008 will, accusing Gordon of taking advantage of Browne's alcoholism and diminished mental state. One lawsuit referred to Gordon as <a href="https://www.nydailynews.com/new-york/architect-andrew-gordon-control-boyfriend-260-million-estate-article-1.1267194" target="_blank" style="line-height: 1.3em;">"a cross between the American Gigolo and Claus von Bulow." </a>
</li>
<li>
The US$120 million sale of Copper Beech Farm in Greenwich, Connecticut took place two weeks ago. It had been put on the market for $190 million but failed to secure the asking price. The sale of a waterfront mansion on 50 acres (18 hectares) in Greenwich was through <a href="https://www.davidogilvy.com/property/2630/address-not-available" target="_blank" style="line-height: 1.3em;">David Ogilvy &amp; Associates, the Christie’s International Real Estate affiliate</a><a href="https://www.davidogilvy.com/property/2630/address-not-available" target="_blank" style="line-height: 1.3em;">.</a> The 1898 neo-French Renaissance manor at at 499 Indian Field Road in Greenwich (pictured below) was sold by real estate mogul Stanley Kroenke.  <img src="/images/2014/05/05/3.jpg" alt=""> Copper Beech Farm was the home for seven decades of the Lauder Greenway family, co-founders of US Steel. With views across Long Island Sound, it is the largest waterfront estate on the coastline between Greenwich and New York City. The New York Times reported it last traded in 1981 for US$7.55 million when it was bought by timber magnate John Rudey, a timber magnate. <a href="https://blog.ctnews.com/propertyrounds/2014/04/11/breaking-copper-beech-farm-sells-for-120-million/#16190101=0" target="_blank" style="line-height: 1.3em;">The news of the sale was broken by the local paper</a>. It was featured in a 1986 coffee table book highlighting the town’s 46 most architecturally significant historic abodes. 
</li>
<li>
The US$117.5 million nine-acre Silicon Valley estate in San Francisco sits in third place. It was bought by Softbank billionaire Masayoshi Son in late 2012. The Mountain Home Road, Woodside, California comes with 9,000-square foot <a href="https://sfluxe.com/2013/01/24/woodside-home-sells-for-117500000/" target="_blank" style="line-height: 1.3em;">neo-classical house</a>, a 1,117-square foot colonnaded pool house, a detached library, a retreat building, a swimming pool, a tennis court and formal gardens.  The mansion (pictured below) is roughly 9,000 square feet, and was designed by Virginia-based architect Allan Greenberg. <img src="/images/2014/05/05/woodside.jpg" alt=""> Photo courtesy of <a href="https://www.jaygraham.com/" target="_blank">Jay Graham</a>. Created by Virginia-based architect Allan Greenberg, it was featured in Extraordinary Homes California: An Exclusive Showcase of the Finest Architects, Designers and Builders in California, in 2009. Greenberg, who is a member of the Architectural Digest 100, described the house as sitting in “an elaborate hilltop garden”, and noted that, in the Palladian tradition, “it is planned around hyphens and dependencies and features a double volume, elliptical garden room.” It has a pool, nine-acres of property, and is surrounded by 360-degree views of the Woodside Mountains. The residence was never publicly listed for sale was previously owned by Tully Friedman of Friedman Fleischer and Lowe LLC, a San Francisco investment firm. 
</li>
<li>
The US$103 million purchase of fund manager Ron Baron in 2007 for an undeveloped 40-acre estate, also on Further Lane, East Hampton ranks fourth. It is where the billionaire is building a 28,000 square foot house.  Ron Baron's purchase of the <a href="https://mlbpark.donga.com/mbs/articleV.php?mbsC=bullpen&amp;mbsIdx=175237" target="_blank" style="line-height: 1.3em;">Further Lane de Menil Estate</a> at 260 Further Lane in East Hampton (pictured below) through his 260 A LLC company came at the height of the market. <img src="/images/2014/05/05/east%20hamptons.jpg" alt=""> Photo courtesy of Doug Kuntz/Splash News/Newscom. Subsequent reporting suggest he has built himself a home on the western third of the property, but now hopes to divide the remaining land into two oceanfront parcels with adjacent lots for guesthomes. The street-to-ocean developed properties could fetch upwards of US$42 million each according to a local broker, using a 10 acre parcel as a model. 
</li>
<li>
Sitting in fifth place is the recent US$102 million sale of the Fleur de Lys Estate in Los Angeles’s Holmby Hills though not to Michael Milken <a href="https://www.forbes.com/sites/erincarlyle/2014/03/31/fleur-de-lys-estate-in-holmby-hills-sells-for-102-million-in-billionaire-bidding-war/" style="line-height: 1.3em;"></a>who denies it is him. So maybe it's a “highly secretive French billionaire”. Either way it is the most expensive home ever sold in L.A. County,<a href="https://www.latimes.com/business/money/la-fi-mo-fleur-de-lys-20140331,0,7233094.story#ixzz2xZG5fDYZ" target="_blank"> the Los Angeles Times</a> reported.
</li>
</ol>
Presumably the paperwork will show it exceded the 56,500-square-foot Aaron Spelling Manor in Los Angeles that sold for US$85 million in July 2011 when The The Manor in the Holmby Hills neighbourhood sold to the heiress Petra Eccleston, daughter of Formula One racing magnate Bernie Ecclestone.
{qtube vid:=Mu6pc0VexPQ}
Sold by socialite and philanthropist Suzanne Saperstein, Fleur de Lys has 12 bedrooms, 15 bathrooms, a ballroom, two kitchens, a massive movie theatre, a pool, tennis courts, and a nine-car garage. It had previously been listed for US$125 million.  <a href="https://www.businessinsider.com.au/fleur-de-lys-back-on-market-2011-7" style="line-height: 1.3em;"></a>According to the LA Times, the 4.6-acre N Carolwood Drive estate was sold after a three-way bidding war among international billionaires, and the winner closed in 10 days in an all-cash deal that included the home’s antique furnishings.<a href="https://en.wikipedia.org/wiki/Fleur_de_Lys_(Los_Angeles,_California)" target="_blank"> </a>
 All available now at $40,000 a week rental
There is always a little hyperbole and mystery regarding prestige sales. There were initial reports in 2011 that the Russian investor Yuri Milner, who made money from Facebook, spent US$100 million on a Silicon Valley real estate. But the <a href="https://www.mercurynews.com/real-estate-news/ci_17692966?nclick_check=1" target="_blank">local paper</a> with access to records of the Santa Clara County assessor subsequently reported it was US$75 million on the 25,500-square-foot mansion in Los Altos Hills.
The previous record was US$95 million in 2008 for Maison de L'Amitie, an estate in Palm Beach, Florida, though Dmitri Rybolovlev, the Russian billionaire who reportedly bought the former Donald Trump house had always denied owning — until conceding a linkage in his divorce deposition. His lawyer says Rybolovlev pays its taxes and upkeep expenses, but doesn’t own the beachfront house at 515 N. County Road, formerly the Gosman estate. The questions were lodged by attorneys representing Dmitri’s estranged wife, Elena. 
The Milner purchase was through La Paloma Property LLC, according to county records, a limited liability company registered in Delaware, where business laws protect the identities of the principals in companies and partnerships, but the blog TechCrunch had the buyer as Yuri Milner, the Russian venture investor who founded the investment fund Digital Sky Technologies, now known as DST Global.
Some suggested the transaction combined cash and stock. 
The seller was Evershine III's tech tycoon Fred Chan, founder of ESS Technology in Fremont, and his wife, Annie, who built the hilltop house, which sits on a main parcel of 11 acres with two adjoining parcels off La Paloma Road. The five bedroom, nine bathroom house comes with a tennis court and car wash following its 2003 construction.
Subsequent local assessor appraisals suggested it was less than the price reputedly. Santa Clara Country <a href="https://www.mercurynews.com/ci_20998327/russian-mogul-yuri-milner-silicon-valley-mansion-worth-half-its-price-100-million" target="_blank">assessor Larry Stone suggested the house's fair market value </a>was US$50,270,000. William Hablinksi, the architect, described the property on his website as an interpretation of the royal Chateau de Maisons and Anet. The total square footage rounds up to 30,000 square feet when you add in the 4,613-square-foot guest house. 
There have been other sales but of ranches including the Montana's Broken O Ranch sold at an unconfirmed price to billionaire St. Louis Rams owner Stan Kroenke, according to The Wall Street, in 2012 having been listed at US$132 million by the estate of the William Moore family, founders of Kelly-Moore Paint Co.  The sale price of this 124,000-acre operational ranch is undisclosed, but at least US$90 million plus.
Lesser sales include Gary Winnick’s US$94 million purchase of the Weber Mansion in Los Angeles in 2000 for 10644 Bellagio Road, Bel Air.
There was also a Malibu oceanfront sale of US<a class="exit_trigger_set" href="https://www.forbes.com/sites/morganbrennan/2013/01/07/billionaire-howard-marks-sells-75-million-malibu-mansion-in-record-breaking-deal/" target="_blank" style="line-height: 1.3em;">$75 million</a> by the billionaire money manager Howard Marks to Russian billionaires in 2013 of a 20,000-square-foot Mediterranean-style villa with eight bedrooms and 14 bathrooms. Marks and his wife purchased the property for US$31 million in 2002 from the estate of late Herbalife founder Mark Hughes. Coming with more than 300 feet of ocean frontage, the Pacific Coast Highway property is one of Malibu’s largest seaside parcels.
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The five most expensive US house deals above $100 million

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There were 48,000 completed foreclosures nationally across the United States in March 2014, down from 53,000 in March 2013, an annual decrease of 10%, according to CoreLogic, the leading global property information, analytics and data provider. 
But completed foreclosures were up 5.9% from the 45,000 reported in February 2014.
As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Since the financial crisis began in September 2008, there have been five million completed foreclosures across the country.
And as of March 2014, 720,000 homes in the United States were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.1 million in March 2013, a year- over-year decrease of 37%.
The foreclosure inventory as of March represented 1.8% of all homes with a mortgage, compared to 2.8% in March 2013.
The foreclosure inventory was down 5.1% from February 2014, representing the 29th month of year-over- year declines.
“The inventory of homes in foreclosure and serious delinquency status are back to 2008 levels, yet remain elevated from a historical perspective,” said Mark Fleming, chief economist for CoreLogic.
“While getting healthier, the housing market is a long way from being fully recovered.
“The pathway to a full recovery in housing is proving to be a very long one, but lower distressed stock levels are one clear indicator that we continue to make slow-but-steady progress,” said Anand Nallathambi, president and CEO of CoreLogic.
It was pointed out that most states have made good progress clearing their foreclosure inventories but states that have a longer judicial foreclosure process such as Florida, New Jersey and New York, continue to struggle with elevated distressed stock inventories.
Some 36 states show declines in year-over-year foreclosure inventory of greater than 30% with Arizona, California and Utah experiencing declines greater than 50%.
The five states with the highest number of completed foreclosures for the 12 months ending in March 2014 were Florida (122,000), Michigan (49,000), Texas (39,000), California (34,000) and Georgia (33,000).These five states account for almost half of all completed foreclosures nationally.
The five states (including the District of Columbia) with the lowest number of completed foreclosures for the 12 months ending in March 2014 were the District of Columbia (57), North Dakota (414), West Virginia (516), Hawaii (683) and Wyoming (714).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were New Jersey (6.0%), Florida (5.8%), New York (4.6%), Maine (3.2%) and Hawaii (3.1%).
The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were Alaska (0.4%), Wyoming (0.5%), North Dakota (0.5%), Nebraska (0.5%) and Minnesota (0.6%).
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The five states with highest and lowest foreclosure homes in USA: CoreLogic

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Close to 100 countries have signed up to a new set of tax principles to govern how goods and services are taxed across borders.
But local retailers are unsure as to what kind of pressure the international consensus will have in Australia, where state and territory governments are yet to reach an agreement about changing the $1000 <a href="https://www.smartcompany.com.au/finance/tax/35217-lowering-the-gst-import-threshold-will-require-careful-political-management" target="_blank">GST threshold for online purchases</a> from offshore suppliers.
Representatives from 86 countries endorsed the guidelines from the Organisation for Economic Co-operation and Development in Tokyo, Japan, on April 18 as part of the OECD Global Forum on VAT.
The <a href="https://www.oecd.org/ctp/consumption/governments-endorse-new-oecd-guidelines-on-applying-vat-across-borders.htm" target="_blank">guidelines</a>, which represent the first internationally agreed framework for applying value-added tax across national borders, aim to help countries avoid both double-taxation and under-taxation. The guidelines relate to two areas: VAT neutrality and ensuring taxes on business-to-business trade is services are destination-based.
The level at which GST is applied to online purchases from offshore suppliers in Australia is a hotly-contested issue, with many local retailers arguing that lowering the threshold from $1000 to a much smaller amount such as $20 would create a more even playing field.
The Productivity Commission <a href="https://www.smartcompany.com.au/growth/economy/23452-20111209-productivity-commission-shoots-down-online-gst-argument-but-pushes-for-changes-to-postal-costs--trading-hours-and-zoning-laws" target="_blank">examined the issue in 2011</a> but found that the cost of collecting GST on online purchases at a threshold of $20 would far outweigh the benefit.
Australian National Retailers Association executive director Russell Zimmerman told SmartCompany while there has been “robust discussion” on the topic between the federal government and retailers, he is unsure as to how much pressure the OECD guidelines will have added to the local debate.
However, Zimmerman said the endorsement “does show that every country is concerned” about international tax arrangements.
Zimmerman said the OECD guidelines may have more of an impact on multinational companies who use corporate structures across various territories to attempt to avoid their tax obligations.
State and territory ministers were <a href="https://www.smartcompany.com.au/legal/politics/41170-push-to-lower-online-gst-threshold-re-intensifies-as-pm-meets-with-retail-chiefs" target="_blank">due to make a decision about the threshold in March</a> but an agreement was hampered by the elections in Tasmania and South Australia. “It’s fair to say that the issue will go to another cabinet meeting,” says Zimmerman of the next step.
Zimmerman said the ARA hopes the recent elevation to NSW Premier of former treasurer Mike Baird, a strong supporter of lowering the GST threshold, will spur the debate.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
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Almost 100 countries sign GST agreement: Pressure mounts on Australian government

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If you've ever wanted to buy a haunted island then you're in luck. Poveglia is up for sale.
{qtube vid:=URbvSD0QdnA}
Possibly the only place near Venice that nobody wants to go to, the uninhabited Italian island has been put up for sale to help reduce the country’s public debt, according the the UK’s The Independent.
It was a quarantine station in the 18th century before apparently becoming a ‘dumping ground’ for plague victims, including children, and the 17-acre island was then home to a mental hospital where the doctor apparently undertook horrible surgeries, such as lobotomies, with hand drills, on the patients. Combining these aspects together, with current rumours that it’s now haunted, and you have the topic for one of the most nail-bitingly creepy films of all time.
That doctor then threw himself off the tallest tower. That hospital only closed in the late-1960s.
As they say, one man’s trash, another man’s treasure. Where some Property Observer readers will see “Personal Worst Nightmare” our property opportunists may instead consider it a “Private Island Holiday Destination”.
The Telegraph reports that the plan is to transform the building into a luxury hotel, however a campaign has been launched to stop privatisation of the lagoon. We imagine that creepy child plague-ghosts, one by the name of Little Maria, aren’t among the resort’s plans, but we could be wrong.
Closed to visitors in recent years by the Italian government, in what could be seen as a conspiracy against the worldwide findings-out of the devils beyond but is likely just a safety protocol, it has attracted paranormal investigators in the past.
If you’re in the market to buy a creepy island, then this is the perfect option. Bids for Poveglia close 6 May 2014.
The Daily Mail explains that a 99 year lease is in the offering for its redevelopment, but that a further four properties, including 15th Century castle and monastery, will be auctioned off freehold. Around 150 state-owned properties will go under the hammer with hopes of netting a 500 million euro total.
Australians can bid <a href="https://venditaimmobili.agenziademanio.it/AsteDemanio_FE/index.php/benioffertalibera/index" target="_blank">in the virtual auction</a>.
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Poveglia, haunted Venetian island up for sale, with hotel plans

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High net worth investors and sovereign wealth funds - potentially armed with billions of dollars - are set to put their stamp on Australia's commercial property market in the year ahead. 
Those two forces are expected to drive a year of change for Australia's commercial property market, with emerging investors being one of the major changes due to a rise of high net worth (HNW) individuals and sovereign wealth funds (SWF) increasing their investment in the Australian market.
In the Asia-Pacific alone, ultra high net worth (UHNW) investors - those with wealth of more than US$30 million - are estimated to be worth US$6.59 billion.
The sovereign wealth fund market today is estimated to be worth US$6.1 trillion - nearly doubling in size since 2007. 
The findings were released in JLL's latest report The year of the push and pull market, which states that Australia's commercial property market will continue to be subject to "divergent forces", with some new factors and some continuing from 2013.   
JLL's Australasian head of research and co-author of the report, Dr David Rees, Australasian, said "the push factors that will lead to increased capital flow into real estate in 2014 include the growth of HNW individuals, the expansion of SWFs, growth of funds under management (FUM) by superannuation funds, increasing portfolio allocations by investors to real estate and away from equity markets, low interest rates, a premium paid for market transparency and an ageing population."
Globally, he notes, that those UHNW individuals who have made their money from real estate continue to hold around 60% of their wealth in real estate.
“In 2014, development opportunities offering capital growth and often smaller capital value high yield opportunities are likely to be attractive to this category of investors", he said. 
Some of the ‘push’ factors identified in the report that will lead to increased capital flow into real estate markets are:
<ul>
<li>SWF funds expanding in number and size;</li>
<li>global growth of HNW investors;</li>
<li>continued growth of the nation's $1.7 trillion superannuation market, with property a key part</li>
<li>of its exposure, and</li>
<li>a portfolio allocation tilt toward real estate. </li>
</ul>
"A 1% shift away from equity and bond markets implies a 19% rise in real estate exposure if we measure the commercial real estate investable universe", the report said. 
Dr Rees said that although many funds had lifted their exposure to real estate, "many are still considered to be underweight in this area, so the potential for growth is strong.”
Dr Rees said the ‘pull’ factors in 2014 that would lead to increasing demand for real estate assets in selected markets were all about "new benchmark metrics that will become more relevant as the year progresses".
“It is all about spreads and if they are the new ‘normal’ or is there more adjustment to come in 2014?"
JLL is forecasting yield spreads between CBD markets to compress. 
It also believes yields spreads between prime and secondary grade assets will compress without reverting to pre-2008 levels and that incentives will contract but are likely to remain higher than historically. 
It is also tipping investor return expectations to adjust to a lower growth economy and the normal office market vacancy rates to be higher.   
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High net worth investors and soveriegn wealth funds to put their stamp on Australian commercial property

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With Sydney’s median price now sitting at around $720,000 according to RPData's latest weekly report, Property Observer takes a look at just what you can buy for that price around the world.
RE/MAX Global now offers a search function which allows buyers to search for international properties based on how much they would like to spend.
“Australians don’t only buy in Australia, and New Zealanders don’t only buy in New Zealand,” he said, “and for our property sellers, this search tool is a tremendous feature in attracting buyers from around the world to their properties," said RE/MAX Australia and RE/MAX New Zealand managing director Michael Davoren.
Century21 offers a similar service on <a href="https://www.century21global.com/" target="_blank">its website</a>.
So what exactly can you buy for $720,000?
<ul>
<li>
<a href="https://global.remax.com/368128_3116" target="_blank">Nanaimo, British Columbia, Canada</a>: A$686,423
</li>
</ul>
<img src="/images/2014/04/04/british%20columbia%20aprtil%204%20one.jpg" alt="">
This four bedroom, three bathroom house (pictured above) in the waterfront city of Nanaimo is set on about 2 acres of land. The huge front windows give the home mountain views, and the home also comes with a hot tub and a pool of substantial size.  
<ul>
<li>
<a href="https://global.remax.com/Villa-For-Sale-Mojacar-Almeria_27531003-111" target="_blank">Mojácar, Andalucia, Spain</a>: A$699,031.
</li>
</ul>
<img src="/images/2014/04/04/spain%20april%204%20one.jpg" alt="">
If you think it might be a little too chilly on Vancouver Island to go for a swim, why not purchase this villa with a pool in Spain? Another four bedroom, three bathroom house, this one (pictured above) set up on a hill has spectacular views over the Alboran Sea.
<ul>
<li>
<a href="https://global.remax.com/Condo-Apartment-For-Sale-Breckenridge-Colorado_1008225005-22" target="_blank">Breckenridge, Colorado, USA</a>: A$692,617.74
</li>
</ul>
<img src="/images/2014/04/04/colorado-april-4.jpg" alt="">
Photo courtesy of the Summit Association of Realtors
This condo on Breckenridge’s Main Street has two bedrooms and three bathrooms, with views over the resort town (pictured above). After a long day of skiing, buyers can keep warm in front of the fireplace at their resort penthouse.
<ul>
<li>
<a href="https://global.remax.com/Multi-Family-For-Sale-Rochester-New-York_1020091034-168" target="_blank">Rochester, New York, USA</a>: A$16,125
</li>
</ul>
<img src="/images/2014/04/04/L_abd16e4d008f4989bd33e1c7d3a0ebd5_iList%201.jpg" width="460" height="345">
At the substantially lower end of the market, this 1920 home in Rochester is selling for what one assumes is substantially lower than its purchase price. Its sale is subject to bank approval of the short sale. For Sydney's median price, you could buy this home 44 times over.
<ul>
<li>
<a href="https://www.century21global.com/property/7004-evergreen-way-buford-ga-30518-usa-C21102185177-USD" target="_blank">Burfood, Georgia, USA</a>: A$10,824
</li>
</ul>
<img src="/images/2014/04/04/cn23g0tqrevh4petbky75vvan3i.jpg" width="460" height="345">
Similarly, the three bedroom, three bathroom mobile home pictured above was purchased for almost US$90,000 when new. Priced for a quick sale at about $10,000, you could buy 72 of these homes for the same price as one median house in Sydney.
<ul>
<li>
<a href="https://global.remax.com/Detached-Bungalow-For-Sale-Monopoli_23341001-334" target="_blank">Monopoli, Bari, Italy</a>: A$699,031
</li>
</ul>
<img src="/images/2014/04/04/bari-april-4-one.jpg" alt="">
This two bedroom, two bathroom single level home (pictured above) was built in 1900. With views of the Adriatic Sea, it’s set in the historic port city of Monopoli. And, of course, it comes with a pool.
<ul>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-newtown-116610955" target="_blank">Newtown, Sydney</a>: A$700-750,000
</li>
</ul>
<img src="/images/2014/04/04/main.jpg" width="460" height="345">
Back home, the two bedroom, one bathroom home pictured above is listed with a price guide of $700-750,000. 
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