Mansion Global Daily: Shanghai housing inventory rises as wealthy landlords try to cash out

German house prices could drop 3.5% next year

Property prices in Germany could fall 3.5% next year as mortgage rates and inflation continue to rise, according to Reuters forecasts from property market experts. This is a sharp reversal from the 0.5% increase forecast in an August poll. Germany, Europe’s largest economy, recorded an 11.6% rise in the consumer price index in October, which will weigh on household budgets. “The weakening demand for mortgages and the decline in consumer purchasing power indicate that the recovery of the residential real estate market has already begun. However, we expect a significant correction in prices rather than a real fall. house prices,” said Carsten Brzeski at ING. Reuters

Chinese energy tycoon is selling Sydney trophy home for A$30m

A trophy home in the affluent Vaucluse suburb of Sydney, owned by a Chinese energy tycoon, has quietly sold for A$30m (US$20m). Lola Li Wang, wife of Li Liang, former chairman and CEO of solar energy company China Smarter Energy Group and renewable energy giant China Power Clean Energy Development Company, purchased the three-level residence in 2008 for 16, 6 million Australian dollars. The home includes formal and informal living areas, a media room, a rooftop spa, a swimming pool, and a six-car garage. Domain

Shanghai housing inventory rises as wealthy landlords try to cash out

The number of existing homes for sale in Shanghai rose 7.8% month-on-month in October, up nearly 30% so far this year, to 135,400 units, according to cn, the official website of the local housing administration office. A growing number of wealthy homeowners are trying to shed their properties in anticipation of a market downturn. “Most of them are considering migrating or considering allocating part of their assets overseas,” said Song Yulin, senior manager of 5I5J real estate agency. South China Morning Post

Palm Beach, Florida townhouse condo returns to market for $20 million

A townhouse-like condominium in Palm Beach, Florida is back on the market for $20 million. The home, one of four townhouses in an upscale condo complex, was sold with its furnishings to a limited liability company in May for $18.6 million, a record price for a condo in the time. The three-level residence has four bedrooms and 6,092 square feet of living space, both indoors and out. Palm Beach Daily News