Canadian Actual Property Market Logged a Cool November

November was a frigid month for Canadian actual property, as costs and gross sales continued to chill. Nationwide, the typical value of a house sale that month was almost C$633,000 (US$464,011), a 12% decline from a 12 months in the past and a whopping 22% under the nation’s value peak in February, in line with information launched from the Canadian Actual Property Affiliation on Thursday. Gross sales additionally slowed significantly, with complete dealmaking down almost 39% in comparison with final November. CBC

Kendrick Lamar Drops $16 Million on Bel Air Mansion

Rapper and songwriter Kendrick Lamar has simply snapped up a $15.9 million mansion within the posh Los Angeles neighborhood of Bel Air. Constructed within the early Nineteen Fifties and designed by Edward Fickett, the non-public property is tucked away behind partitions and gates and contains a essential home and a two-story guesthouse. Options embody an atrium-like household room, an up to date kitchen, a major bed room suite with a hearth sitting space, a library, a movie show, a wine cellar and a fitness center. Filth 

L.A.’s Wealthy Search for Methods to Get Round Impending Mansion Tax

Within the November election, Los Angeles voters accredited a brand new mansion tax, and the town’s rich are already on the lookout for methods to keep away from it. Measure ULA, for “United to Home L.A.,” will impose a 4% tax on property gross sales above $5 million or a 5.5% tax on gross sales above $10 million, which can be used to fund reasonably priced housing and homelessness prevention. The measure is ready to take impact April 1, 2023, and plenty of luxurious owners and builders are both transferring shortly to dump their properties earlier than then or discovering inventive methods to maintain their dwelling gross sales below the $5 million threshold. Los Angeles Instances

Medieval Citadel in Serravalle, Italy, Lists for €1.9 Million 

A medieval fortress in Italy—plus a part of the village it’s in—has hit the marketplace for €1.9 million (US$2.02 million). Situated within the hamlet of Serravalle, between the cities of Modena and Bologna, in Italy’s northern Emilia Romagna area, the almost 20,000-square-foot fortress is livable and requires minimal fixes, plus the worth is negotiable. Along with the palace, there is a looking lodge with a woodshed, a four-story lookout tower, strolling trails and a 3-acre park. “It has monumental potential each as a personal, silent retreat to unplug in, or as an funding to show it right into a resort,” stated Paolo Giacopini of Immobiliare Giacopini, the actual property company dealing with the sale. CNN

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