Five property stories making global headlines this week:
Hong Kong activists tee off territory’s golfers
First to Hong Kong, where the red hot property market has produced a confrontation between political activists and the territory’s golfers. The New York Times reports on calls for the 129-year-old Hong Kong Golf Club, which occupies 425 acres, to be given over to public housing in a bid to combat Hong Kong’s housing crisis.
Dubai developers slow to deliver
There are no such goings on in Dubai, where the residential market is showing signs of downward pressure on prices, according to Gulf News. The website covers a report from consultancy Core Savills which describes a sluggish development pipeline and many neighbourhoods experiencing falling house prices. Investors should also ready themselves for falling rental yields, the report suggests.
Sly and the family homes: Toronto investment advice
Meanwhile the Financial Times carries a colourful account of Toronto’s Real Estate Wealth Expo. The day-long event featured get-rich-quick advice from the likes of actor Sylvester Stallone and the rapper Pitbull — set against a 12 per cent fall in the average selling price of Toronto homes in the year to April.
Grenfell review greeted with disappointment
More soberingly, in the UK a review was published into building safety in the wake of last year’s catastrophic fire at Grenfell Tower, a residential high-rise in west London. Trade magazine Inside Housing reported that survivors of the disaster were “saddened and disappointed” by the report, and criticised its author for making false claims about combustible material.
Meghan’s ‘cosy comfort’ interiors
Finally, amid acres of newsprint on the wedding of Prince Harry and Meghan Markle, London’s Evening Standard found space for 1,000-odd words on the new princess’s “interior style”. She goes for rooms that “ooze cosy comfort, and creamy calm”.
Photographs: Getty Images; Reuters; Peter Horvath; Instagram/Meghan Markle