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Strong Price Growth in the U.K., New Housing Stock in Dubai, and More
Strong Price Growth in the U.K., New Housing Stock in Dubai, and More

Strong Price Growth in the U.K., New Housing Stock in Dubai, and More

Mansion Global’s daily round-up of the latest luxury real estate news from around the world

Orlando’s Median Home Prices Rose 10% in February
The median home price in Orlando, Florida, jumped 10.4% year-over-year in February, up to $228,000, compared to $206,500 last year. In the same period, inventory also declined 9%. The city has seen its overall median price increase for 80 straight months, rising 97.4% since July 2011. World Property Journal

New Housing Stock Is Putting Even More Pressure on Abu Dhabi and Dubai Rents
There’s no end in sight to rent declines in Abu Dhabi and Dubai, both of which are seeing more new developments opening up in their already-oversaturated markets. Referencing a “tenant-friendly market” and “widespread rental softening,” Core Savills CEO David Godchaux also noted that tenants have the power to negotiate better terms, or shop around for cheaper homes. Dubai rents dropped 7.06% year-over-year in February, and in Abu Dhabi, they fell 11.08%. Khaleej Times

Embattled Chinese Conglomerate Selling Off All of its Property Holdings
CEFC China Energy Co. is reportedly moving forward with plans to sell its entire global real estate portfolio, which has a total value of over 20 billion yuan (US$3.2 billion). As part of the deal, 100 properties will be sold, including the company’s Shanghai headquarters, a condo at Trump Tower in Manhattan, and various residential properties as well as hotels, industrial, and commercial properties. The firm has recently faced heightened scrutiny in China’s crackdown on foreign investment and excess debt. Bloomberg

Scottish Landlords See Strong Profits Even as Growth Slows
Scotland’s average rents grew only 0.7% year-over-year in February, while other numbers showed a 1.2% annual decline. However, the average yield was still 4.4% in February, a better showing than many parts of England and Wales. “While growth has slowed compared to recent times, the Scottish market continues to grow at a healthy and steady pace,” said Brian Moran of Your Move Scotland. 

Source: Mansion Global