Mansion Global Daily: Thailand’s Political Deadlock Is Weighing on Its Property Market

U.K. Home Prices Fall With London, South East Leading the Way

U.K. home prices have fallen for four straight months. According to latest data from bank Halifax, property values in the U.K. dropped 0.3% from June to July. The South East of England saw the biggest tumble with house prices in the region slipping 3.9% annually, but London was not far behind. House prices in the capital city dropped 3.5% annually, with the average London property now costing £531,000 (US$678,084). Industry analysts predict home prices for the nation could drop as much as 5% before the year is over. City A.M.

Thailand’s Political Deadlock Is Weighing on Its Property Market

Thailand’s political stalemate is being reflected in its property market. The nation, which commands the second-largest economy in Southeast Asia, has been struggling to form a coalition government since its most recent election in May. Real estate is a significant force in its economy, accounting for about 10% of Thailand’s GDP in 2022, with foreign home buyers making up about 25% of all property sales. But would-be buyers have put purchases on hold, anticipating that the new government, whenever it forms, will pass reforms more beneficial to foreign home ownership. South China Morning Post

Qatar’s Real Estate Suffering From Post-World Cup Malaise

The afterglow of a successful World Cup in 2022 is receding and Qatar’s real estate market is finding itself with a few (not-unanticipated) headaches. In the leadup to the massive international event, Qatar built tens of thousands of homes in a bid to entice visiting potential buyers. With the bulk of those visitors now gone, the region finds itself with a glut of supply—which is also putting pressure on the rental market. According to a report from global real estate consultancy Knight Frank, rents are falling across Qatar’s popular residential districts, with Lusail’s Waterfront and Fox Hills experiencing the biggest quarterly drops of 23% and 18%, respectively. Gulf News

Billionaire Emilio Azcarraga Jean Lists Hollywood Hills Home for $60 Million

Emilio Azcarraga Jean, chairman of media company Televisa and the professional football team Club America, has listed his home in the Hollywood Hills neighborhood of Los Angeles for $60 million. Sitting on 2.3 acres, the 11,000-square-foot Mexican Colonial-style property includes two dining rooms, a library, a wine cellar and a chef’s kitchen. Outside, the home features extensive landscaping, numerous fountains, a pool, a stone patio and a 2,000-square-foot guesthouse. Robb Report