Postcard from LA: Gordon MacGeachy on the mansion tax, pyjama lounges & off-market records
In the latest in a series of international dispatches for PrimeResi, Hilton & Hyland's Estates Director - a member of Luxury Portfolio International - shares insights into the Californian luxury property market.
LA’s mansion tax is now in play
Los Angeles saw a marked increase in high-value property sales in March, as brokers rushed to close deals before a new transaction tax was introduced on 1st April.
Los Angeles Times: L.A.’s rich are already scheming ways to avoid new ‘mansion tax’
'Rich people are very clever,' says a real estate broker in California. 'They know how to manage cash, and they have time to look for loopholes.'
LA to implement ‘mansion tax’ of up to 5.5%
58% of Los Angeles residents voted for a new levy on property transactions above $5mn.
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‘Trophy’ apartment on Mayfair’s Grosvenor Square sells for £19.75mn
PCL buying agency secures 'once in a decade opportunity' for longstanding client, negotiating more than £1mn off the asking price.
Top-performing European prime property markets to watch in 2025
Knight Frank forecasts price growth across Europe’s key cities & luxury resorts next year, with Stockholm out in front & London at the rear of the pack.
Super-Prime Deal Digest: 38 of 2024’s standout London property sales
PrimeResi’s essential review of the most significant luxury transactions of the year.
Boutique agency scores hat-trick of super-prime sales in Primrose Hill
House Collective's trio of £10mn-plus deals featured some rare large-scale family houses in the popular NW London enclave.
A fifth of estate agents plan to work through Christmas
Agency boss warns of 'burnout' as survey reveals no seasonal break for many brokers.
Belgravia sees super-prime deal surge as ‘new generation of global buyer’ moves in
International HNWIs have been honing in on the prestigious PCL district in 2024, reports Savills.
Guy Meacock: Why London continues to captivate American buyers
'There have been surges of interest from Americans in the past but in 20 years of doing this job, I can’t recall quite so many buying as now'.
In Pictures: ‘Extraordinary’ 60,000 sq ft ski chalet features F1 simulator, car museum & nightclub
Byron Baciocchi's Unica Capital is building a 'record-breaking' leisure palace in Gstaad.
Building Businesses: 2024’s top prime estate agency mergers & acquisitions
Including changes at Chestertons, Christie's International Real Estate, Fine & Country, Foxtons, and a realm of boutique London firms - plus a big portal deal that did not happen.
In Pictures: Super-prime townhouse unveiled at RAMSA-designed scheme in NYC
Remarkable $16.95mn residence at boutique project The Henry promises the best of all worlds.
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