New Year, New Tax: Luxury Homes in One of Canada’s Priciest Cities Just Got More Expensive
At the highest end, buyers will wind up paying the city of Toronto triple what they used to in land transfer fees. Read More
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TRENDING TODAY
LISTING OF THE DAY
Watch the Shrimp Boats Drift by From This Tidal Marsh Home in South Carolina Lowcountry
The private waterfront property is only five minutes from downtown Charleston. Read More
SMART HOMES
Sit Smarter With These High-Tech Sofas
These couches take lounging to another level with voice activation, lighting and other features you never knew you needed. Read More
NEWS BITES
U.K. First-Time Home Buyers at Lowest Level Since 2013
In the U.K., the number of first-time home buyers who bought a property with a mortgage fell to its lowest level in a decade in 2023, according to Yorkshire Building Society. Across the nation, there were an estimated 290,000 first-time buyers in 2023, the lender said. That’s 20% fewer than in 2022, when the number of buyers taking their first step on the property ladder reached 370,000. The drop can be attributed to rising interest rates, high house prices and the elevated cost of living. The Guardian
Home Prices Are Still Moderating in Singapore
Singapore property prices moderated for a second year running in 2023, dampened by several rounds of cooling measures, softer economic conditions and elevated mortgage rates. Prices ticked up 6.7%, compared with 8.6% in 2022. Powering 2023’s price gains was the suburban non-landed, or apartment, market, which jumped 13.8%. Meanwhile, property prices in the prime and city fringe markets grew at modest paces of 2.1% and 2.7%, respectively, according to Tricia Song, CBRE’s head of research for Singapore and Southeast Asia. The Straits Times
Hong Kong Home Prices Expected to Fall This Year
Hong Kong’s home prices are expected to drop 10% in 2024, pulled down by a looming surplus of housing stock and high interest rates, according to a forecast from Citigroup. Despite interest rate cuts being in the cards this year, it will take time for any falls “to impact the Hong Kong economy,” said Ka Liu, head of investment strategy and portfolio advisory at Citibank Hong Kong. “We remain conservative on the residential market outlook, as mortgage rates will stand high, exerting repayment burden on potential buyers.” Home prices may bottom out in 2025, he said. South China Morning Post
Australian Home With a Kid’s Wing Lists by the Gold Coast
A Mediterranean-style home complete with a dedicated children’s wing in Australia’s Tallebudgera Valley, a lush suburb in the hinterland of the Gold Coast, has hit the market. Known as “Talle Casa,” the five-bedroom, single-level home is designed in an L shape, with the kid’s wing, gym and home office positioned on one side, and the entertaining areas and primary suite on the other. Linking the two wings via breezeways are a series of screened-off garden areas. There’s also a pool, a fire pit and a pizza oven. Domain
AROUND NEWS CORP
Apartment Rent Relief Is Expected to Continue in 2024 [The Wall Street Journal]
How the King’s Garden Designers Revamped Their Derelict Cottage [The Times of London]
Reinvigorate the Heart of Your Home With the Hottest Kitchen Decor Trends for 2024 [Realtor.com]
Graph Reveals Grim Reality for Homebuyers as One State’s Prices Soar 15% [news.com.au]
