Luxury Real Estate Headlines: Fourth Week in November 2013

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

new zealand luxury real estate

$3,600,000 NZD | Auckland, New Zealand | New Zealand Sotheby’s International Realty

Indoor Ski Parks Around the WorldThe Wall Street Journal

New Zealand prices remained relatively steady because the economy is dependent on primary industries like agriculture and tourism, says Camron Meade, sales manager for New Zealand Sotheby’s International Realty. Mr. Meade estimates a maximum decline of 20% in property prices in urban areas like Auckland. Still, a lack of confidence and stricter lending rules limited the amount of new development in the past five years, leading to a shortage of housing stock and an uptick in prices. Sales activity is also up—6,720 houses sold in September, up 19% from the year before, according to the Real Estate Institute of New Zealand. “Funds are now starting to free up for developers to come in and develop this type of real estate,” says Mr. Meade, adding that Chinese investors have been particularly active in new developments.

Sotheby’s International Realty Brand Enters PanamaSotheby’s International Realty

Piste-Perfect Homes for SaleThe Wall Street Journal

Malta Launches Controversial Citizenship by Investment SchemeForbes

Finding a Home in New OrleansNew Orleans Magazine

Glen Cove [New York] mansion traces roots to Standard Oil Co.Newsday

US housing market in chartsReuters

5 [global] housing bubbles to watchCNN Money

Jony Ive and Marc Newson’s Red Auction at Sotheby’sThe Verge

$62 Million in Sales at ‘Art of the Automobile’ AuctionThe New York Times

Psalm book fetches record US$14.2m at New York auctionSouth China Morning Post

Chinese buyer snaps up wine collection for $165,000: Sotheby’sReuters

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