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.
Most read
Watch: Abbey Clancy interviews real estate mogul Becky Fatemi
Sotheby’s International Realty Executive Partner Becky Fatemi reveals 'raw realities' of climbing to the top as a woman in business in candid podcast episode.
Sale agreed on Spink-designed super-home in Kensington
11,000 sq ft contemporary mansion was guided at £27.5mn and attracted competitive interest.
Super-prime sale completes on Mayfair’s South Street
5,000 sq ft townhouse, guided at £14.95mn, attracted interest from a number of buyers.
The Standard: The inside story of Highgate’s unsold £32mn mega-mansion
Lee Koffman, Trevor Abrahmsohn and Jo Eccles have spoken with The Standard about high-profile but sticky super-prime listing in North London.
Savills bolsters Primrose Hill sales team
Former model agent Gabriella Palmano has made the move from Foxtons' West End sales department.
In Pictures: £6.5mn price tag for Mayfair gem with interiors by Cartier maestro
Bruno Moinard-designed pad on South Audley Street is being pitched at 'bon viveurs, socialites and power players'
In Pictures: Previewing Six Senses’ first-ever standalone resi development
New Renderings: Collaboration with UAE developer is delivering the world's tallest resi tower & a 'new chapter in ultra-luxury living'
Revealed: The PCL neighbourhoods where more than 9 in 10 homes sell at a discount
Private bank Coutts tells its clients where to unearth the biggest price cuts in the capital's Golden Postcodes.
‘Australia’s most iconic residence’ tipped to set new price record
Sydney super-home 'ranks amongst the best in the world'
In Pictures: Brace of King’s Cross penthouses pitched at £7.6mn apiece
Marquee units launched at 67-acre estate's flagship resi heritage building, Gasholders London.
LATEST ARTICLES
Sale agreed on Spink-designed super-home in Kensington
11,000 sq ft contemporary mansion was guided at £27.5mn and attracted competitive interest.
‘Once in a lifetime’ development opp in Islington seeks £7.5mn
'Syracusae' comes with a star-studded back story & scope for either an 'iconic' single residence, or three state-of-the-art homes.
Ranked: Countries & cities by billionaire population in 2024
Huron's latest Rich List points to a decline in China's wealth, with New York and London emerging as the world's top billionaire cities.
Weekly Showcase: Ten featured prime resi listings
PrimeResi's regular stock check, powered by LonRes
‘Sentiment has shifted’ as property developers feel more upbeat
Housebuilder confidence is building, but development land 'is not changing hands at a rapid pace yet.'