Home Prices Double in Turkey’s Capital, Leading the World in the Third Quarter
Inflation has sent Ankara’s market soaring, while Istanbul and Dubai followed in a global index of 72 major cities. Read More
BY THE NUMBERS
TRENDING TODAY
LISTING OF THE DAY
‘Tonight Show’ Host Jack Paar’s Longtime Connecticut Home Was a 1970s Time Capsule
Say hello to green shag carpeting, original wallpaper and tiling in the kitchen and a vintage pool, spa and cabana. Read More
DESIGNER’S CORNER
If Your New Year’s Resolutions Include More ‘Me Time,’ Try Designing a ‘Spathroom’ at Home
Streamline details, connect to the outdoors, and create a sense of calm in your very own bathroom. Read More
NEWS BITES
Hong Kong Home Prices Fall to Lowest Level in Seven Years
Hong Kong home prices fell for the seventh consecutive month to their lowest level in almost seven years, according to government data. The private residential price index stood at 316 points in November, the lowest level since February 2017 and a sharp drop from 322.4 points in October, according to the Rating and Valuation Department. In addition, property prices fell by 5.59% so far this year, and December is not expected to see an improvement. “Home prices in December continue to fall, making a full year decline of 7%,” according to Derek Chan, head of research at Ricacorp Properties. Overall, prices are down about 20.6% from the market’s peak in September 2021. South China Morning Post
Another Slow Year in Store for Seattle, Experts Say
Subdued activity, hesitant sellers and buyers waiting on the sidelines for mortgage rates to come down defined the Seattle housing market in 2023—and next year looks like more of the same, according to expert predictions. Some changes in store for the city could be a modest uptick in buyer activity if mortgage rates decline, while home prices are expected to tick up again next year despite sluggish activity. Seattle Times
These Issues Will Turn off Luxury Home Buyers
Partial home updates are a common deal breaker in the luxury housing market, as are additional transfer fees charged by a housing association and homes with lots of stairs, according to a luxury real estate agent in Park City, Utah. “Sometimes buyers are willing to take on a project, but usually they are willing to pay more for a fully updated home,” said Josh Chapel of Berkshire Hathaway Home Services. Another major challenge in communities like Park City is when a home is almost ski-in-ski-out, but not quite, he said. Yahoo
Dubai Poised to Have a Record-Breaking 2023
Dubai is set to finish the year on a stellar note, with property sales poised to exceed AED 400 billion (US$108.9 billion), according to analysis released Tuesday. The value of real estate sales since January has so far reached more than AED 393 billion and could climb by another few billion over the next few days to achieve a new record for 2023, Dubai-based real estate brokerage firm W Capital said. “There were more than 127,000 deals [already recorded since January], and with a week before the end of the year, it is expected to exceed AED 400 billion,” said Walid Al Zarooni, CEO of W Capital, citing data from the Dubai Land Department. Zawya
AROUND NEWS CORP
The Title of ‘World’s Priciest Retail Rent’ Resides in America [The Wall Street Journal]
Why the Caribbean Is a Timeless Hit With Holiday Home Buyers [The Times of London]
Style and Substance: Newly Built Green Home in Bellevue, WA, Checks All the Boxes for $3.5M [Realtor.com]
Australia’s Most Amazing Shipping Container Homes Revealed [news.com.au]