Mansion Global Daily: Investing in Toronto’s Bright Red Real Estate Market, Falling Stock Market in Hong Kong Could Lower Home Prices, and More

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In Toronto’s Hottest Real Estate Market, Downtown and Condos Still Offer Upward Potential

Worried about buying in Toronto’s overheated real estate market? It might not be the bubble you think it is. Read more

BY THE NUMBERS


TREND TODAY


WORLD MANSION CHOICES


A gift guide for everyone on your list

From entertainers and fitness gurus to children at heart, gifts that any family member, friend or colleague would love to receive. Read more

LIST OF THE DAY


The Former London Factory is now an elegant loft-style house near the River Thames

The five bedrooms have a roof terrace and many preserved industrial elements. Read more

NEIGHBORHOOD NOTES


Island Park: A Canadian Nabe with the rare combination of privacy, scenery and trendy dining and shopping spots

Increasingly attractive to wealthy buyers, the city of Ottawa is known for its diverse architectural styles and access to upscale amenities. Read more

NEW BITES

Perth is expected to see double-digit price growth in 2022, along with more demand than it can handle

Perth, the state capital of Western Australia, is expected to see prices rise by 10% or more next year, along with an even tighter rental market. Growth will be fueled by the return of investor demand when the state borders open, scheduled for February. Additionally, some say there could be an influx of some 20,000 people into the state for job opportunities in 2022, further straining the tight market. “At the moment, however, we have less than 2,000 properties available for rent and less than 10,000 properties available for purchase, which means we can only really handle an influx of 8,000 before our market hits. be stretched like a drum, ”the real estate analyst said. and expert Gavin Hegney. real estate.com.au

Falling stock markets in Hong Kong could push home prices down

Prices for existing homes in Hong Kong could fall by 2% next year, after 13 years of positive growth, according to a report released this week by Morgan Stanley. Sales volume could also drop as much as 15% in 2022, as a “negative wealth effect” caused by a drop in inventory prevents buyers from new real estate investments. “The recent decline of [Hang Seng Index] should generally be followed by an underperformance of the real estate sector due to a negative wealth effect, based on historical data. We are waiting for the [Hong Kong] the real estate stock market index to underperform the Hang Seng index in 2022, ”equity analyst Praveen Choudhary wrote in the report. South China Morning Post

Saudi Arabia’s central Jeddah project plans unveiled

Saudi Arabia’s Crown Prince Mohammed bin Salman on Friday unveiled plans for the Central Jeddah Project, a mixed-use development that aims to bring 17,000 residential units to the city of Jeddah. It is part of the Crown Prince’s initiative to develop all the regions and cities of the kingdom, and will be financed by his Public Investment Fund, as well as by local and international investors. Plans include an opera house, museum, stadium and oceanarium, as well as hotels, shops and restaurants. The first of its three phases is expected to be completed in 2027. The National

California Megamansion of Music Manager lists $ 12.5 million

An 11,000-square-foot Encino mansion owned by the director of The Weeknd went on the market this week for $ 12.5 million. Amir “Cash” Esmailian bought the house in 2016 for $ 6 million and completely personalized it, adding a red room accented with Middle Eastern-inspired decor that the Iranian-Canadian music producer called his ” dojo “. There’s also a Buddha statue in the courtyard, as well as an office lined with bookshelves, wine cellar and tasting room, game room and outdoor bar, fire pit, and swimming pool. Dirt

AROUND NEWS CORP

Edinburgh is the best city to invest in residential property [The Times of London]

What are other first-time buyers planning to do to become homeowners? [Realtor.com]

Real estate exploded in 2021, but these New York buyers lost big [New York Post]

Resident-only restaurants in luxury towers struggled to break even. Then Covid struck. [The Wall Street Journal]


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