Mansion Global Daily: Hong Kong’s Prices Slip

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News Briefs

Pink-Hued Former Flour Mill in the U.K. Lists for £1.5 Million

A former flour mill—distinctive because of its pale pink facade—in a small U.K. fishing village is on the market with a guide price of £1.5 million (US$1.9 million) and up. The Grade II-listed residence sits on more than 3 acres in Lympstone in East Devon, and offers five bedrooms, office space, several reception areas, including a snug, and a guest apartment. The mill shut down in 1950, but could still be used to generate electricity. House Beautiful

Perth Was Only Capital City to See Price Growth in Australia During the Past Year

Perth, Australia, saw house prices rise 4.6% to reach a new high of A$555,000 (US$374,000) during the 12 months through June according to the Real Estate Institute of Western Australia. “Resilience was the key theme for the WA property market in 2022-23 [fiscal year], with Perth emerging as the only capital city to record moderate price growth over the financial year despite constant interest rate rises,” according to Cath Hart, CEO of Real Estate Institute of Western Australia. MPA Magazine

Mumbai Registers Record Sales in First Half of 2023

Deals for luxury real estate in Mumbai rose 50% in the first half of 2023, according to a report from India Sotheby’s International Realty and CRE Matrix. Transactions totaled US$107 million, 31% more than the previous record of US$81 million, set in the first half of 2021. People aged 25 to 45 made up 35% of luxury home buyers in Mumbai, the report found, but those in the 45 to 65 age group made up 55% of buyers. In addition, the typical price for a luxury home—US$1.2 million or higher—rose 60% in the same time period. FX Compared

Hong Kong Home Prices Slip as Borrowing Costs Rise

Home prices in Hong Kong dropped for the second month in June, registering a 0.54% dip compared to the previous month, according to the Rating and Valuation Department. In addition, prices were down just under 1% in the second quarter, compared to a 5.25% increase between January and March. Rising borrowing costs and a lack of consumer confidence are behind the slide, officials said. South China Morning Post

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