Mansion Global Daily: Shophouses Are Singapore’s New Hot Property

40% of U.K. Adults Are Struggling to Pay Rent

Hard times have hit a huge chunk of the U.K. According to the Office of National Statistics, 40% of adults are having a hard time paying rent or meeting mortgage payments—a jump of 10% from last year’s report. Average rental prices for the nation, outside of London, have hit £1,278 (US$1,554), while average rental prices in the capital are more than double that, at £2,627 per month. Higher mortgage rates and increased renter demand, as well as a dearth of supply, have pushed landlords to raise rents throughout the U.K. The average rent for the country is up 8.9% since September 2022, and up 1.38% since August of this year. City A.M.

Shophouses Are Singapore’s New Hot Property

Like Brooklyn Brownstones and London Victorians before them, Singapore Shophouses are having their moment as the must-have property. Built during the colonial era of the 1840s to 1960s, the homes feature ornate, colorful facades and served as either living quarters or storefronts. They are still sought after today as hip commercial properties for restaurants, boutiques and more. In all, there are 6,500 historic shophouses in Singapore with conservation status, and prices for the properties have hit a record S$5,500 (US$4,016) per square foot—double Manhattan’s Upper Fifth Avenue. The Business Times

U.S. Mortgage Originations Could Hit $1.95 Trillion in 2024

No break in borrowing for U.S. homeowners. The Mortgage Bankers Association is predicting that total U.S. mortgage origination volume will reach $1.95 trillion in 2024, up from the $1.64 trillion expected this year. Total loan count is also expected to increase by 19%, according to the association, from 4.4 million loans this year to 5.2 million loans in 2024. World Property Journal

Jerry Springer’s Chicago-Area Condo Finds a Buyer

The condo that TV conflict bought has been sold. The estate of Jerry Springer, the late tabloid TV talk show host (and former Cincinnati, Ohio, mayor) who passed away in April, has sold his Evanston, Illinois, condo for $2 million. Located on the 35th floor of a high-rise, the condo featured three bedrooms, two and a half bathrooms, bespoke woodwork, a separate laundry room and a large terrace, spread across 3,000 square feet. Chicago Tribune