Mansion Global Daily: Chinese Buyers Spent an Extra A$1 Billion on Australian Property

Baseball Player Justin Upton Puts Southern California Home up for Sale

Former Los Angeles Angel and MLB free agent Justin Upton is selling his Newport Beach, California, home. The residence, which Upton and his wife, Ashley, bought in 2020 for $4.7 million, is listed for just under $6.8 million. The 2019 build has a white wood-clad facade, five bedrooms and seven bathrooms. Spanning neary 6,000 square feet across three stories, the home has a sunken living room with a fireplace and an open-concept living and dining area that flows to an outdoor entertaining space with a built-in barbecue and fire pit. There’s also a three-car garage and room to add a pool. Robb Report

A Neo-Romanesque Mansion in Romania Hits the Market

An impressive neo-Romanesque mansion in Romania’s Oltenia region has been listed for sale with a €2.05 million (US$2.14 million) price tag. Known as the Romano Mansion, the home was built between 1920 and 1925 by famous local architect Grigore Cerchez. The name comes from the Romanov brothers, whose family worked on the construction of this mansion, and the property fell back into the hands of Romano heirs in 1998. It has since undergone many renovations, and features a main building, the Manor House, and two outbuildings. Details include a gazebo with massive decorations, a round turret framing the opposite corner, monumental pillars at the main entrance and an entrance gate with two imposing towers. ACTMedia

Chinese Buyers Spent an Extra A$1 Billion on Australian Property Last Fiscal Year

Foreign buyers from China spent an additional A$1 billion (US$629.23 million) on Australian homes in the past fiscal year—which ended June 30—bringing their total spending to A$3.4 billion. Additionally, offshore applications to buy property rose to 6,576, the highest total since the pandemic. Buyers from other Asian countries also increased their spending by significant numbers. Hong Kong buyers spent an extra A$600 million last fiscal year and spent a total of A$4 billion on Australian properties, which was more than half of the A$7.9 billion total spent by all foreign buyers. Vietnamese investors spent A$400 million, and buyers from Taiwan and Singapore each spent A$300 million. realestate.com.au

Condo Sales Are Dropping Across Canada, Except for These Two Markets

High interest rates and economic uncertainty are hitting Canada’s condo market, according to Re/Max Canada’s 2023 national condominium report. Condo sales in Canada during the first eight months of the year fell in all but two of the seven major cities analyzed, with prices also dropping in four cities—greater Toronto, Ottawa, the Fraser Valley and Edmonton. The two cities with an increase in condo sales were Edmonton (up 3.1%) and Calgary, which saw a notable 22% increase in sales. “Alberta markets are the outliers, with their affordability attracting interprovincial migration at a staggering rate,” the report said. Vancouver Sun