Mansion Global Daily: Upscale beach towns in the US to look forward to this summer; Smart cold drink and more

Five beach house hotspots that aren’t the Hamptons

For those looking for alternatives to the popular New York getaway, these American cities share similar lifestyles, amenities, and homes. Read more

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This 6-bedroom villa is located right on the sand in Los Cabos, Mexico

The house is one of 10 beachfront villas due to open in the spring of 2023 in the new St. Regis development. Read more

smart homes

Smart iced coffee makers are perfect for summer

Cool your favorite beverage easily and efficiently with these smart devices. Read more

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UK home sales fell in May

UK home sales fell about 5% year-on-year in May, according to data from the government. However, home sales rose 1.3% month over month, still well above 2019 levels. Nick Liming, president of real estate firm Jackson Stubbs, said, “While higher interest rates are likely to dampen housing demand, home sales are likely to dampen housing demand. More supply is needed to balance the scales and keep transactions thriving.” Evening Standard

Chinese developer offers to accept wheat and garlic as payment

Central China Real Estate, a developer based in Henan, has launched a promotion for “swap wheat for home” in the hope of winning business from farmers in the area. The deal, set to run until July 10, will allow buyers to use the wheat to offset up to 160,000 yuan ($23,900) of a down payment at one of the company’s developed properties. Chinese sellers and developers have struggled to secure sales and transactions have fallen so far in 2022, and last month Central China Real Estate offered a similar promotion with the option to make garlic payments. Reuters

After the price hike, the demand for holiday cottages in Norway decreases

Prices for country houses often used as vacation homes in Norway rose 15.6% year-on-year in the first half of 2022, averaging 3.4 million kroner (US$350,000), according to data from Real Estate Norway, Eiendomsverdi and . However, amid rising inflation and inflation, transactions on these properties are now down nearly 30%. Despite lower demand, experts from Nordea Bank of Norway expect prices to continue to rise in “typical summer cabins near the sea” thanks to “extremely low supply”. Bloomberg

Hong Kong developers slash house prices in hopes of boosting deals

Hong Kong developers have begun making price cuts in a bid to boost sales activity, with Sun Hung Kai Properties setting the starting price for an apartment in its new Silicon Hill development at HK$3.85 million ($490,460) over the weekend, compared to HK $4.97 million asking price for identical-sized apartments during the first round of sales in early June. “Developers will first test the waters at low starting prices, in pursuit of this [higher] Sales volume by [achieving a higher] Price,” said Ricacorp Properties Head of Research Derek Chan. South China Morning Post

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Former Chipotle CEO Steve Ells Flips Over $35 Million Townhouse For Delicious Profit [New York Post]