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Palm Beach’s Most Expensive Home Sells at 43 Percent Discount

Late in 2011, the most expensive home of Palm Beach, Florida came onto the open market with an asking price of $74 million. Sitting unclaimed for more than a year, the mansion has finally found a buyer, who apparently snagged it for a great 43 percent discount, paying just $42 million for the luxe pad.

Mongolian Central Bank Halving Mortgage Interest Rates

The Central Bank of Mongolia will slash down mortgage interest rates almost by half to 8 percent from the existing 15 percent in order to support and substantiate growth in the middle-class sector of the country. The rates are expected to come into effect by June 17.

Carlyle Group LP Planning to Raise $4 Billion for Seventh Real Estate Fund

Carlyle Group LP, the famous American private equity firm is reportedly planning to raise $4 billion for its seventh real estate fund. The target, if achieved, would make it the firm’s largest property fund since the financial crisis.