Mansion Global Daily: Dubai Sales Drop for the First Time in 2023

Dubai Sales Drop for the First Time in 2023

Dubai property’s market dropped by 33% in total sales transactions in April and also saw an 18.3% decrease in sales value, according to a report by Allsopp & Allsopp. It was the first time sales fell since December. The dip was due to “several external factors,” such as reduced work hours, and the Ramadan, Eid and Easter holidays, which led to fewer new properties coming to the market, followed by a drop in property sales viewings and less new sales transactions by the Dubai Land Department, the report said. In addition, the early May data “shows a swift return” to first-quarter sales levels. Arabian Business

Hong Kong Sales Slow After Short-Lived Uptick in the First Quarter

Despite a relatively active first quarter, home sales in Hong Kong have slumped, and prices are now on a “downward trend” likely to last until next year. Fewer than 80 transactions have been registered in the city each week since the end of March, with one week seeing just 35 sales, according to Midland Realty data. The downturn follows a 7% increase in home prices in the first quarter, according to Ken Yeung, a property analyst with Citi. “Hong Kong residential transaction volumes have been weakening since March 23, which was quite a surprise to us how short-lived this round of recovery was,” he said. South China Morning Post

Music Bigwig Brandon Silverstein Was the Buyer of Angela Lansbury’s Longtime Home

The mystery buyer who recently paid $500,000 over the asking price for a Los Angeles residence long owned by the late actress Angela Lansbury is 31-year-old music manager Brandon Silverstein.Records show Lansbury’s former Spanish-style hacienda sold to Mr. Silverstein and his wife, Julie, for $5 million, or more than $4 million over what the Broadway and Hollywood actress and her actor/producer husband Peter Shaw paid for the place almost four decades ago, in spring 1985. Dirt

Irish Government Seizes Cartel Chief’s Dublin Homes

Ireland’s Criminal Assets Bureau has made moves to seize two luxury properties tied to gang boss Ross Browning, leader of the global Kinahan drug cartel. Family members have been ordered to vacate the Dublin homes, part of €1.7 million (US$1.83 million) in alleged criminal assets facing government seizure, by mid-July. A renovated compound called Chestnut Lodge, complete with equestrian facilities, makes up the bulk of Mr. Browning’s forfeited assets. Irish Mirror