{"id":298,"date":"2023-10-26T01:31:16","date_gmt":"2023-10-26T01:31:16","guid":{"rendered":"https:\/\/fountain-rock.com\/en\/?p=298"},"modified":"2023-10-26T01:31:16","modified_gmt":"2023-10-26T01:31:16","slug":"luxury-home-prices-to-fall-up-to-5-this-year","status":"publish","type":"post","link":"https:\/\/fountain-rock.com\/en\/luxury-home-prices-to-fall-up-to-5-this-year\/","title":{"rendered":"Luxury home prices to fall up to 5% this year"},"content":{"rendered":"<p><strong>Prices are also likely to fall another 5% in 2024.<\/strong><\/p>\n<p>The policy of refunding extra stamp duty to eligible non-locals has failed to support property values or stimulate residential market activity in 3Q23.<\/p>\n<p>Data from JLL showed that transactions involving Buyer&#8217;s Stamp Duty in the overall residential transaction volume remained static at 1.6%, mirroring the same period last year<\/p>\n<p>To add, capital values of luxury properties fell by 0.3% in the first nine months of 2023.<\/p>\n<p>JLL expects luxury home prices to fall up to 5% in 2023 and another 5% in 2024.<\/p>\n<p>Despite sellers adjusting their asking prices, the luxury housing market has yet to see an influx of buyers.<\/p>\n<p>The transaction volume for residential properties valued at or above $20m, plummeted by a significant 52% QoQ in 3Q23.<\/p>\n<p>&#8220;Demand from local buyers softened as, for many, their wealth has been impacted by losses in financial investments,&#8221; JLL said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prices are also likely to fall another 5% in 2024. The policy of refunding extra stamp duty to eligible non-locals has failed to support property values or stimulate residential market activity in 3Q23. Data from JLL showed that transactions involving Buyer&#8217;s Stamp Duty in the overall residential transaction volume remained static at 1.6%, mirroring the same period last year To add, capital values of luxury properties fell by 0.3% in the first nine months of 2023. JLL expects luxury home prices to fall up to 5% in 2023 and another 5% in 2024. Despite sellers adjusting their asking prices, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-298","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/posts\/298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/comments?post=298"}],"version-history":[{"count":1,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/posts\/298\/revisions"}],"predecessor-version":[{"id":300,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/posts\/298\/revisions\/300"}],"wp:attachment":[{"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/media?parent=298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/categories?post=298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fountain-rock.com\/en\/wp-json\/wp\/v2\/tags?post=298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}