Mansion Global Daily: Overseas Buyers Return to Miami

Hong Kong Property Investment Expected to Spike 15% in 2023 After 10-Year Low

Investment in Hong Kong property is set to rise by 15% in 2023, up from a 10-year low, according to CBRE’s 2023 Asia-Pacific Investor Intentions Survey. Opportunistic investors are cautiously on the hunt for bargains as prices have fallen since interest rates were raised, analysts said. Hong Kong ranked fifth among the top cities for cross-border investment this year—back in the top five after a four-year absence, the report said. “With the reopening of the border with mainland China and more reasonable valuations, investors once again find Hong Kong attractive,” said Marcos Chan, executive director and head of research at CBRE. South China Morning Post

Overseas Buyers Return to Miami

Overseas buyers accounted for $6.8 billion of South Florida residential real estate between August 2021 and July 2022, according to a report from the Miami Association of Realtors. That’s up 34% annually, although the pandemic kept many buyers on ice the previous year as borders were closed. About 17% of home sales in Miami over the 12-month period were made by foreign buyers, with 16% hailing from Argentina followed by Colombia (13%) and Canada (8%). Nationally, the dollar volume of purchases by overseas investors increased 8.5% between August 2021 and July 2022. Axios

Home in Converted U.K. Church Dating to 14th Century Lists for £600,000

A former converted church in the U.K. has hit the market for £600,000 (US$742,510)—less than many apartments in London. Located in Stowmarket, Suffolk, about 95 miles northeast of London, the property is said to date to the 14th century, although it has undergone “significant renovations,” according to English Heritage, which works to preserve historic properties. It has two bedrooms, as well as several sleeping lofts, including a space next to one of the building’s huge cathedral windows. There are also stone floors and vaulted ceilings throughout. The Mirror

Toronto Housing Market Slower Than a Dozen Other Ontario Cities

Homes in 12 out of 22 cities in Ontario spent fewer days on the market than the Toronto average, according to a report by Zoocasa. Homes in Waterloo Region sold the fastest (25 days), followed by Aurora (26 days), and London and Whitby tied for third (28 days). In Toronto—Canada’s largest city—a typical home spent an average of 40 days on the market in December. BNN Bloomberg