Mansion Global Daily: Where to buy in Sydney’s increasingly valuable suburbs, plans revealed for the world’s first floating city near South Korea, and more


A quarter of Sydney’s suburbs are multi-million dollar markets, but there’s still room for savvy buyers and investors

Buyers can look to the city’s outlying and seaside suburbs, which, despite a broader market downturn, have a buoyant rental market that is helping to keep prices high. Read more

IN NUMBERS


TRENDING TODAY


THE LIBRARY


Presentation of the library

Mansion Global has rolled out The Library, an up-to-date dictionary of all the terms you need to know when investing in real estate. Read more

LIST OF THE DAY


Jean-Claude Van Damme’s former Vancouver apartment offers ocean, city and mountain views

The house, in the city’s One Wall Center, is on the 36th floor. Read more

NEWS

Plans revealed for world’s first floating city near South Korea

Plans for the “world’s first floating city prototype” have been revealed by Copenhagen and New York-based architecture firms BIG, Bjarke Ingels Group; Samoo Architects & Engineers, headquartered in Seoul, South Korea; and New York-based technology company Oceanix. The city, dubbed Oceanix Busan, is set to sail off the coast of Busan in South Korea, and the project is being developed by UN-Habitat and the Metropolitan City of Busan. The prototype aims to provide a model for coastal cities facing threats of flooding and rising sea levels due to climate change. Dezeen

Prices return to 2021 levels in Wellington, New Zealand

The price of a house in Wellington, New Zealand, fell 4.7% in April from the previous month, according to the latest House Price Index from the Real Estate Institute of New Zealand. Additionally, prices are down 6.4% in the past three months, bringing the year-over-year price increase to just 0.3%, the data showed. Meanwhile, Wellington-area listings rose 78% in March, according to Trade Me’s house price index. “As supply skyrocketed in Wellington the month last, demand in the area was up 2% year-on-year in March,” said Gavin Lloyd, director of property sales at Trade Me. Stuff.co.nz

Luxury home sales boomed in Mumbai in 2021

Sales of luxury homes in the Indian city of Mumbai more than doubled last year, according to a report by India Sotheby’s International Realty and CRE Matrix. There were 1,214 luxury homes sold in the city in 2021, compared to 548 units last year. “The luxury housing market in Mumbai has performed extremely well over the past year. This roughly matches the selling speed of luxury homes that we have seen around the world,” said Ashwin Chadha, Chairman of India Sotheby’s International Realty. “We believe this is just the start of a very positive and bullish residential real estate cycle.” Trade standard

Biden administration seeks permission to streamline process for seizure of luxury homes and other Russian assets

The US government is seeking to streamline the process of seizing and selling sanctioned Russian assets, with the proceeds to be used to aid Ukraine against Russian attacks. The Biden administration said Thursday it would send a proposal to Congress with an additional request to support Ukraine. “We are going to seize their yachts or their luxury homes and other ill-gotten gains of Putin’s kleptocracy,” President Biden said. The United States and its allies have sanctioned 21 members of the Russian Security Council and other associates of Russian President Vladimir Putin, as well as 140 oligarchs and Kremlin officials. USA today

AROUND NEWS CORP

Million-dollar homes in Montana and Idaho are selling for double what they did two years ago [The Wall Street Journal]

Ready to upgrade your Siege Swagger? 5 living room trends to steal from Instagram [Realtor.com]

Homes in these 14 New York neighborhoods are now more expensive than Manhattan [New York Post]

Wave House Bondi with ‘Curves in All the Right Places’ has $7 million price guide for May 26 auction [news.com.au]

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