News Briefs
International Students Exempt From Canada’s Ban on Non-Residents Buying Homes
Starting Jan. 1, Canada will ban non-residents from buying homes in the country for two years. However, the ban won’t apply to many foreign workers and students who plan to live in Canada for the long term, the federal government announced Wednesday. International students, who have spent the bulk of the previous five years in Canada, would be able to purchase a home for no more than C$500,000 (US$366,000). Foreign workers need to have worked and filed tax returns in Canada for at least three out of the four years before they could buy a property. CBC
Hong Kong’s Studio Apartments Hit Hardest by the Market Downturn
Hong Kong’s tiny studio apartments, also known as nano-flats, have been hit hardest by the market downturn. In the first 11 months of this year, developers sold 48% of these tiny apartments available, compared to 53% for one-bedroom and 67% for two-bedroom apartments, respectively, according to data from Midland Realty. “More buyers can buy one-bedroom or two-bedroom units now” as a result of relaxed mortgage rules and lower prices, said Sammy Po, chief executive officer of Midland’s home division. Bloomberg
Fox News Host Jesse Watters Lists New Jersey Beachfront Home for $1.85 Million
Fox News host Jesse Watters is selling his beachfront home on the Jersey Shore for $1.849 million. The home in Beach Haven, New Jersey, has about 2,000 square feet of living space with four bedrooms, two full and one half bathrooms. The home was built in 1984 and has been recently updated. Mr. Watters, 44, a host of his eponymous nightly show and a co-host of “The Five,” bought the property in April 2021 for $1.1 million. Realtor.com
Wolfspeed CEO Gregg Lowe Takes a Loss on His North Carolina Country Home
Gregg Lowe, CEO of Wolfspeed Inc., a semiconductor developer and manufacturer based in Durham, North Carolina, has sold his sprawling 12-acre estate in the Triangle area for $5.6 million, a $750,000 loss. He and his wife, Diana, bought the property for $6.35 million in 2017 and put it back on the market for $7.4 million two years ago. Built in 2006, the 15,675-square-foot home has five bedrooms, nine bathrooms, an indoor saltwater pool with a waterfall and a home theater. The home is one of the largest and most expensive in the Triangle, named so for its proximity to three of the state’s major universities. News Observer
