Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

International

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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.
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<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>
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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.
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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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