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Mansion Global Daily: Canadian Government to Increase Taxes on Short-Term Rentals



Shanghai Developers Offer Incentives Like Deferred Down Payments to Boost Sales

Following the fourth-straight month of falling Chinese home prices and lagging sales, developers in Shanghai are offering buyers new incentives in hopes of increasing demand. One new development in the city’s Baoshan district is allowing buyers to delay paying a chunk of their down payment by a year—typically, buyers are expected to make their full down payment within a week or two of an accepted offer. Additionally, first-time home buyers can reserve their home with just a 10% down payment, as opposed to the usual 35%. Another development is offering buyers of three-bedroom units a free parking space worth 400,000 yuan (US$55,470). South China Morning Post

Canadian Government to Increase Taxes on Short-Term Rentals

The Canadian federal government is trying to make short-term rentals, like Airbnb and VRBO, less lucrative for its operators. Tuesday’s economic update is expected to include measures to prevent short-term rental operators from deducting expenses from what they earn on their rentals. The government is looking to raise the amount of income these rental owners will have to claim and pay taxes on, but these changes will only apply to operators who are not abiding by provincial and municipal rules on short-term rentals. “We know that short-term rentals through sites like Airbnb and VRBO mean fewer homes for Canadians to rent and live in full time, especially in urban and populated areas of our country,” said federal finance minister Chrystia Freeland. Vancouver Sun

Melbourne-Area Home With Recording Studio Lists for A$2.7 million

A more than 50-year-old home with a recording studio in Williamstown, Australia, a suburb of Melbourne, has hit the market for the first time with a A$2.6million to A$2.7 million (US$1.7 million to US$1.76 million) guide price. The five-bedroom abode also features a formal dining room, three bathrooms and laundry. But the studio—which owner Robert Masutti and his sound-engineer son have used over the years—is the main selling point, Musutti said. “The studio can be used for podcasting, videography, photography, and it’s great for people who work from home, it has air conditioning and an internet connection,” he added.

Self-Sufficient Brazilian Property Accessible by Boat or Helicopter Asks US$15 Million

A 52-acre waterfront property near the historic Brazilian town of Paraty, accessible only by boat or helicopter, has been listed for US$15 million. Known as Casa Santa Rita, the home was designed by Brazilian architect Marcio Koganto, who created a modern, self-sufficient home. Surrounded by Brazilian jungle, the five-bedroom residence was built into a hillside and offers walls of windows for a seamless indoor-outdoor experience. There’s also an open layout, a sleek kitchen, several shady internal courtyards and a terrace. Robb Report

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