Five property stories making global headlines:
Tory win prompts London super-prime sales
The decisive Conservative victory in the UK general election has caused a bounce in super-prime sales, according to estate agents. The Guardian reported that one family instructed Beauchamp Estates to buy a £65m property in central London the day after the election on the back of the result, while Glentree International sold a £28m London home to an “international Asian family”.
Delhi slum-dwellers win property rights
Millions of people living in New Delhi’s slums can now own, develop and sell their dwellings for the first time. Reuters reported India’s parliament has passed a bill granting home-ownership rights to more than 4m residents of around 1,700 settlements. But almost 70 communities in protected areas, such as those close to temples or affluent neighbourhoods, are excluded from the reform.
Spain’s recovery a mixed picture
A Financial Times analysis of the Spanish housing market since the 2008 crash revealed the varied pace of recovery. While prices in parts of the country’s interior are at just half their 2007 peak, those in Madrid and Barcelona are now within 15 per cent of pre-crash levels. Values are predicted to increase further as construction is failing to keep pace with demand; an estimated 1.5m-2.5m new residential units for rent are needed across the country in the next 15 years.
Bel Air sale breaks record
A house that featured in 1960s television sitcom The Beverly Hillbillies has set a sale price record for California after fetching about $150m. The Bel Air mansion, named Chartwell, was home to the Clampett family in the show. The Los Angeles Times reported that the buyer was Lachlan Murdoch, co-chairman of publishing company News Corp.
Britons’ property fantasies revealed
Online property escapism continues to be a favourite pastime in the UK, where the BBC revealed the nation’s most viewed mansions of 2019. The top five viewed on property website Rightmove included a 16-bedroom castle in Scotland, a Manchester penthouse and a home in Essex with a vast ceiling mirror in the master bedroom.
