Mansion Global Daily: Hong Kong Home Prices May Continue to Slump

U.K. Buy-to-Rent Landlords Feeling the Mortgage Rate Squeeze

It’s not just homeowners facing tough financial times due to escalating mortgage rates, landlords for buy-to-rent properties have also been bitten by the anti-inflationary measures. According to analysis from City A.M., mortgages for buy-to-rent homes have fallen 51.1% year over year in November, as landlords have seen the average rates for such mortgages increase 2.1%, to an average of 3.09%. As a result, average monthly payments for buy-to-rent landlords has jumped 39.7%, from £656 (US$798) in November 2021 to £917 this year. The numbers are harsher for interest-only mortgages, where the average monthly payment has jumped 242.8% year over year, pushing payments to a high of £493 per month. City A.M.

Fort Lauderdale, Florida, Home Sales Faltered in October

Sales are slipping in the Sunshine State. According to the Miami Association of Realtors, home sales in Broward County, Florida, home to Fort Lauderdale, known as the Yachting Capital of the World, were down 25.1% annually in October, dropping from 2,967 to 2,222. Single-family sales alone in the region fell 27.1% year over year, while condos saw a drop of 23.4%. As a result, inventory for the two property types were up during the same timeframe, with single-family homes and condos posting listing gains of 73% and 10%, respectively. World Property Journal

Hong Kong Home Prices May Continue to Slump

Bad news for Hong Kong homeowners who were looking to sell—industry analysts expect the price slump to continue. Prices for occupied homes in the city have fallen 16.8% in the Centa-City Leading Index, a gauge of lived-in homes compiled by Centaline Property Agency, from the record high measure of 191.34 in August 2021. And Centaline expects further slippage, predicting a further 9.5% by late January, bringing the Index to 144, a figure not seen since 2016. South China Morning Post

Highest Priced Listing in Celebrity Enclave Hidden Hills Goes Into Contract

The most expensive home for sale in the Los Angeles neighborhood Hidden Hills, a gated community popular with celebrities, has gone into contract. The six-bedroom, nine-bathroom, custom-built mansion, which sits on more than 7 acres and includes a 65-foot infinity pool, a tennis court, a sand volleyball court, two golf holes, two fire pits and a barn. The property had been listed for $27.5 million, but the final price has not yet been released. The Real Deal