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Mansion Global Daily: Climate Change Could Be Costly for Dutch … – Mansion Global

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The Phoenix Market Is Expected to Have a Big 2024


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commercials real estate properties.

Metro Phoenix is expected to be one of the hottest U.S. real estate markets in 2024, according to a national survey. The Phoenix area ranked No. 2 on a list of the top U.S. areas to watch for growth, commercial real estate development and investment next year, according to Urban Land Institute’s Emerging Trends report. Nashville topped the list, with Dallas coming in third, based on responses from 2,000 real estate experts. AZCentral

Anita Baker Lists Michigan Home for $1.85 Million

Soul and R&B singer Anita Baker has listed her home in Grosse Pointe, Michigan, for $1.85 million The stately brick house has four bedrooms, three bathrooms, and a half-bath, all spread across more than 7,300 square feet. But it’s the location that makes this pad so primo: 120 feet of water frontage and views of Lake St. Clair. A new owner could opt to tear down the current structure and put up a new building. Realtor.com

Climate Change Could Cause €325 Billion Loss to Dutch Housing Market

The Dutch housing market could lose up to €325 billion (US$355.6 million) in value as climate change increases the risk of flooding and foundation, according to real estate research group Calcasa. Rising sea levels, heavy rainfall and full rivers that cause flooding could affect 3.7 million homes, especially in the central parts of the country and the Wadden Islands. For homes that do need repairs due to flooding and foundation damage, it could cost an average or €100,000 per property. DutchNews

The Biggest Developer in Hong Kong Is Pricing Homes at a Six-Year Low Price

As high interest rates continue to trouble Hong Kong’s housing market, developers have been pressured to lower prices, and the city’s biggest developer, Sun Hung Kai Properties, has just set a new low. The first batch of units in its Yoho West development has an average price of HK$10,888 (US$1,396) per square foot—a six-year low for new homes. Despite the government’s recent measure to ease property taxes, new developments are still suffering in terms of sales—major sales launches in the two weeks following this announcement recorded an average first-day sell-through rate of 24.6%, a significant drop from the third quarter’s average of 73.9%. The Straits Times

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