Mansion Global Daily: How Video Can Elevate a Listing, China’s Home Price Growth Expected to Cool, and More
Mansion Global Daily will not be distributed on Monday, May 29, due to the Memorial Day holiday in the U.S. It will return on Tuesday, May 30.
Since the pandemic began, the use of videos has become more important than ever, but quality and creativity are both key to success. Read More
LISTING OF THE DAY
Its owners demolished the house from the late 1990s to its foundations and custom-designed a new 7,345-square-foot home. Read More
SPECIAL REPORT
Five booming areas from Thailand to Jamaica with plenty to do on and off the course. Read More
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NEWS BITES
Sydney Apartment With Harbour Views Sells in Three Days for Nearly $11 Million
A three-bedroom, three-bathroom apartment in Potts Point, an inner suburb of Sydney, sold in just three days for A$10.85 million (US$7 million). Located in the Chatsworth building, the residence offers far-reaching views of Sydney Harbour and an indoor-outdoor living experience with doors that open to a covered terrace with a living and dining area. The sellers realized a healthy profit, having bought the property for A$7.05 million in 2021. realestate.com.au
U.K. Mortgage Rates Rise on Higher-Than-Expected Inflation Figures
Mortgage rates in the U.K. ticked up this week after higher-than-expected inflation figures were released, raising speculations that the Bank of England will have to raise interest rates higher than previously thought. Several lenders increased rates, led by Nationwide, where borrowers could see a rise of up to 0.45 of a percentage point. Inflation slowed by less than expected to 8.7% in April, and core inflation was at 31-year high. “The inflation number was a real surprise, it stayed high and sticky and that's really worried investors,” said Luke Hickmore, investment director of fixed income at the Scotland-based investment firm Abrdn. BBC
Historic Hong Kong Property With Sea Views Sells for HK$550 Million
Christopher Marcus Gradel, CEO of global investment firm PAG, has splashed out HK$550 million (US$70.1 million) for Villa Ellenbud, a 100-year-old waterfront home in Hong Kong’s Pok Fu Lam district. Built in the 1920s, the site includes two houses—sold in an “as-is” condition—that could be redeveloped into two new homes with a total floor area of 14,625-square-feet, according to Colliers, which was the sole agent for the property. Such “a top-notch redevelopment site is rarely seen in the market,” the agency said in a statement. South China Morning Post
China Home Price Growth Expected to Cool This Year, According to Poll
Home price growth in China is predicted to slow this year, according to a Reuters poll conducted in May. Prices are expected to rise 1.4% annually, the results indicated, a downgrade from the 2.5% increase forecast in a February survey. “Residents’ confidence in their incomes and expectations of house prices declines, as well as home buyers’ concerns about the presold homes unable to deliver, remain key factors impacting home buyers to enter the market,” said analyst Huang Yu at China Index Academy. Reuters
AROUND NEWS CORP
Celebrities Like Beyoncé and Jay-Z Have a New Obsession: An 81-Year-Old Japanese Architect [The Wall Street Journal]
How Minimaluxe Is Your Home? [The Times of London]
Yikes! Mortgage Rates Just Jumped Again—and Here’s How High They Might Go [Realtor.com]
Enron Short Seller Jim Chanos Lists Miami Beach ‘Mega Condo’ for $25 Million [New York Post]