Changing U.S. Monetary Policy Could Hit the Entry-Level Luxury Market Hardest

Changing U.S. Monetary Policy Could Hit the Entry-Level Luxury Market Hardest

With mortgage-backed securities winding down, home buyers and investors who rely on financing should consider transactions carefully. Read More

BY THE NUMBERS

TRENDING TODAY

THE LIBRARY

Introducing The Library

Mansion Global has rolled out The Library, an up-to-date dictionary of all the terms you need to know when investing in real estate. Read More

LISTING OF THE DAY

In Mexico City, a Landmark Abode and National Historic Monument Asks $5.5 Million

In the city's Roma neighborhood, the home pairs a classical exterior with modern interiors. Read More

NEWS BITES

Home Prices in Singapore Expected to Slow, Even as Transactions Increase

Home prices in Singapore inched up 0.4% in the first quarter, but analysts predict cooling measures and rising interest rates will result in even slower growth going forward. Although price growth in the first three months of 2022 marked the eighth consecutive quarter of gains, it marked a significant drop from the last quarter, when prices rose 5%, according to the Urban Redevelopment Authority. Still, demand for private homes is expected to remain strong, with transaction volumes likely to increase as more projects come on to the market. The Business Times

Celebrity Physician Nicholas Perricone Buys Florida Home for Nearly $7 Million

Celebrity physician Nicholas Perricone has plunked down nearly $7 million on an oceanfront Highland Beach, Florida, townhouse. Mr. Perricone, who has an eponymous beauty brand and is the author of several books on skin care, bought the 5,480-square-foot residence from Marton Anka, co-founder and former CTO of a cloud-based information technology services company. It has five bedrooms, six full bathrooms and a powder room. It last sold for $4.6 million in 2014. The Real Deal

After 'Exceptional' Year in 2021, Australian Home Prices Start to Slow

The average price of an Australian home was up just 0.34% in March, compared to the previous month, the slowest monthly rate of growth in two years, according to the data firm PropTrack. Price appreciation was the highest in South Australia—up 1.03%—with its capital, Adelaide, seeing an uptick of 0.84% last month, compared to February. Meanwhile, Sydney saw a slight increase of 0.32%, while prices fell slightly in Melbourne (0.02%) and Perth (0.11%). "Although the peak of price growth has clearly passed, 2021 was such an exceptional year for home price growth—the third fastest episode in Australia's history. It would take further exceptional circumstances to match that in 2022," said Paul Ryan of PropTrack. realestate.com.au

Falling Profits Plague Chinese Developers

The days of runaway home prices and major profits are over for Chinese property developers, according to Yu Liang, chairman of China Vanke, the country's third-largest real estate company by sales. Vanke's net profit in 2021 was 22.5 billion yuan (US$3.54 billion), half of its profit the previous year, while sales fell 10% to 628.9 billion yuan, according to a statement to the Hong Kong stock exchange. In addition, Zhenro Properties reported a 30.9% drop in its 2021 profit, to 2.28 billion yuan, while China Overseas Land and Investment, one of China's most conservative borrowers, posted a 4.3% profit dip to 36.38 billion yuan. "Neither high nor low profit is sustainable," Mr. Yu said. "The sector needs to return to a normal level." South China Morning Post