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American homebuyers are facing increased mortgage rates, with Redfin Corp. raising its 2024 forecast from 6.1% to 6.8% following Donald Trump"s election. Daryl Fairweather, Redfin"s chief economist, noted that the market anticipates potential tariffs under Trump"s administration, though his exact plans remain uncertain.
The average NHL team is now valued at $1.92 billion, reflecting a significant rise due to steady revenue growth, a hard salary cap, and a revenue-sharing system. For the 2023-24 season, the league"s hockey-related revenue reached $6.3 billion, an 8.6% increase from the previous year, with record national sponsorship and gate receipts contributing to improved profitability across all franchises.
Home prices in major Indian cities, including NCR and Mumbai, surged by 23% year-on-year, reaching an average of Rs 1.23 crore ($145,707) during the first half of the fiscal year. Despite a 3% decline in unit sales, the total sales value increased by 18%, driven by strong demand for luxury homes. Developers are rapidly expanding to meet this demand, with DLF Ltd. reporting a significant rise in new sales bookings.
Mortgage demand increased by 1.7% last week, despite rising interest rates, with the average rate for 30-year fixed mortgages reaching 6.90%. Purchase applications rose 2%, driven by conventional and FHA loans, while refinancing applications surged 2% and were 43% higher than last year, largely due to a 10% increase in VA applications. Mortgage rates showed slight fluctuations this week, influenced by geopolitical events and investor behavior.
Jorge Perez, a billionaire known for luxury condos in Miami, is expanding his ventures with a $1 billion project in Pompano Beach, a town traditionally associated with affordable housing. His company, Related Group, is developing a 24-story W Hotel and Residences, marking its fourth project in the area, led by his sons, JP and Nick.
House prices in major Indian cities have surged by 23% year-on-year, driven by increased demand for luxury properties. The average price now stands at 12.3 million rupees ($145,707) as of the first half of the fiscal year, with over 227,400 units sold across the top seven urban areas, including New Delhi and Mumbai.
The Swiss property market remains robust, with house prices rising by 3.8% over the past year and 8.9% over two years, contrasting sharply with declines in Germany and France. Interest rate cuts have made financing cheaper, fueling demand, particularly for holiday apartments in mountain regions, where prices surged by 14% last year. However, the ongoing housing shortage poses challenges for locals and seasonal workers, as rental prices continue to outpace wages.
Croatia is poised to address the rising housing prices linked to tourism, joining other European nations in this effort. However, concerns are mounting among property owners who fear that the proposed legislation could negatively impact their businesses.
UK private rental inflation has surged to 8.7% in October, marking the first increase in seven months and pushing rent prices in the capital back into double digits. This rise, which includes a 0.9% monthly increase—the highest since February—continues to exert pressure on tenants amid ongoing cost-of-living challenges.
Dubai"s financial hub is now home to family offices managing over $1 trillion in assets, fueled by a surge of high-net-worth individuals. Arif Amiri, CEO of the Dubai International Financial Centre Authority, noted that the DIFC hosts over 120 families and 800 related entities overseeing more than $1.2 trillion in assets.
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