Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.
$3,600,000 NZD | Auckland, New Zealand | New Zealand Sotheby’s International Realty
Indoor Ski Parks Around the World – The 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 Panama – Sotheby’s International Realty
Piste-Perfect Homes for Sale - The Wall Street Journal
Finding a Home in New Orleans – New Orleans Magazine
US housing market in charts – Reuters
5 [global] housing bubbles to watch – CNN Money
$62 Million in Sales at ‘Art of the Automobile’ Auction – The New York Times
Psalm book fetches record US$14.2m at New York auction – South China Morning Post