Atlanta's Housing Market Will Lead U.S. in 2023
The Georgia capital is looking at modest price growth around 5%—surpassing stagnant prices in the wider U.S. market, according to the National Association of Realtors. Read More
BY THE NUMBERS
| CONTENT FROM OUR SPONSOR: Irongate |  | Unparalleled Luxury and Adventure await on Baja's East Cape 45 minutes from the Los Cabos airport, Costa Palmas is a master-planned resort community set by the shores of Baja's East Cape, on the swimmable Sea of Cortez. Owners will be part of a casual and inclusive club, which connects them to our two miles of beachfront, our clubhouses and our Robert Trent Jones II course. Explore ownership opportunities at Four Seasons Private Residences & Casa Blake. Learn More | | |
TRENDING TODAY
MANSION GLOBAL BOUTIQUE
High-End Holiday Gifts for Pet Owners
Whether you're on the hunt for a luxury leash or a chic carrier, these pet picks will have our four-legged friends—and their owners—doing flips. Read More
LISTING OF THE DAY
This 200-Year-Old London Townhouse Has Been a Magnet for Artists
The five-bedroom house in St. John's Wood has belonged to the Scottish artist William Strang and English composer George Alexander Macfarren. Read More
DESIGNER'S CORNER
The Magic of Wall Murals
How to beautify any room with floor-to-ceiling art pieces, whether they're canvas, silk or hand painted right onto your walls. Read More
NEWS BITES
Survey: Hong Kong Home Prices Will Continue to Fall in 2023
Hang on, Hong Kong—the slide isn't over. According to a survey of accountants and finance professionals, conducted by CPA Australia, 54% of respondents believed that home prices in the city would continue to fall in 2023, even if the overall economy improves. The organization encouraged the Hong Kong government to review—and roll back—extra stamp duties on property transactions as a means of stemming the price bleed and encouraging new investment. Since 2010, the Hong Kong government has levied a host of stamp duties on residential transactions to curb property speculation and runaway prices. Between 2010 and 2021, lived-in home prices in the city rose by 160%, but since its peak in August 2021, prices for these properties have plunged 17.6%. South China Morning Post
Millions of U.K. Households Will See Significant Increase in Mortgage Payments
Buckle up, borrowers. The Bank of England is warning that 4 million households in the U.K. will see a substantial increase in their mortgage payments next year—with a further 2 million contending with a significant rise by 2025. According to a report issued by the Bank of England, the average payment for borrowers who remortgage will reach £1,000 (US$1,240) per month in 2023, an increase of £250 over the current level. The bank said that buy-to-rent landlords will be particularly vulnerable, as 85% of such investors have interest-only mortgages, which are much more sensitive to fluctuating interest rates. The Business Times
Investors Are Buying up Properties Around Obama Presidential Center in Chicago
Investors are betting big on the power of the Obama Presidential Center. According to the Illinois Answers Project, more than one-third of the homes available for sale around the South Side Chicago neighborhood of Jackson Park, where the center is nearing completion, in the third quarter of 2022 were purchased by property investors. The 32% of available homes snapped up by investors in the ZIP code ties for the most in the city. "People should be afraid, they should be concerned about firms that don't live in this community buying up homes," Dixon Romeo, a South Shore organizer with Not Me We. "In terms of housing, that means raising the rent, imposing unnecessary fees and effectively displacing people." The Real Deal
Late Actor Leslie Jordan's West Hollywood Condo Hits the Market for $1.79 Million
The West Hollywood condo owned by the late, Emmy award-winning actor Leslie Jordan has been placed on the market for $1.76 million. The 67-year-old Jordan, known for his roles in "Will & Grace" and "American Horror Story," purchased the two-bedroom, two-bathroom home—his first property purchase—over the summer, but died months later in a car accident in Los Angeles before moving into the condo. The home, located in a full-service building, features a modern kitchen, a large patio and floor-to-ceiling windows that offer views of Los Angeles. Los Angeles Times
AROUND NEWS CORP
Blockchains Founder Lists Two Lake Tahoe Homes for Combined $45 Million [The Wall Street Journal]
John Travolta Can't Offload $5 Million Maine Mansion Kirstie Alley First Showed Him [New York Post]
On the House: Comparing Different Money-Saving Mortgages That Come With Some Big Catches [Realtor.com]
Spoiler Alert: Evelyn Waugh Fan Could Stymie Mansion Sale [The Times of London]
