Mansion Global Daily: China’s real estate crisis hits the country’s architects
Florida homeowners face high home insurance costs
Wealthy owners of Florida’s most expensive homes now face five- to six-figure insurance policies to protect their residences from climate-related disasters like rising sea levels and tropical storms. “I’ve done this for 32 years, and I’ve never seen interest rates rise the way they do today. If you’re getting a rate increase of less than 20%, it’s almost a gift,” said Cindy Zobayan, managing director at insurance brokerage Alliant Private Client. “, adding that the 800% increases are closer to the new standard. Robb Report
This Australian home has an award-winning swimming pool
A house on the market for A$1.43 million (US$918,281) in Alice Springs, a town in Australia’s Northern Territory, comes with an award-winning swimming pool. Popular amenities are a nearly 40-foot indoor pool with a waterfall and built-in spa. It was crowned Pool of the Year 2022 for Australia and New Zealand at the Leisure Pool Awards. The wider property, in the suburb of Elbarba, has four bedrooms, high ceilings and an entertaining kitchen. specialization
Chinese architects are feeling the impact of the country’s real estate industry problems
Architects in China are grappling with the effects of the country’s real estate market crisis. Dezeen spoke to architects based in Beijing, Shanghai, Guangzhou and Shenzhen who reported widespread layoffs, pay cuts and wage arrears in the industry in the past year. “You have a good day if you leave work before 10 p.m.,” said one young architect and former employee of the state-owned Shenzhen General Architectural Design and Research Corporation. “I know some of my colleagues worked until 3 a.m. straight for three months.” Design
Apartment prices in Dubai are rising
Apartments in Dubai, which constitute approximately 85% of the residential supply in the Middle Eastern city, have seen their value rise. Apartment prices rose by 20% on average in the year to August, representing the largest increase recorded since November 2014, according to property consultant CBRE. The gains outpaced increases in single-family home prices of 17.3%. “With affordability constrained, demand for apartments is increasing as they tend to be cheaper overall,” said Taimur Khan, head of research at CBRE. “Also, rental yields in Dubai are much higher than what investors can get in London, New York or Hong Kong.” Arabic News
