Mansion Global’s daily round-up of the latest luxury real estate news from around the world
Orlando’s Median Home Prices Rose 10% in February The median home price in Orlando, Florida, jumped 10.4% year-over-year in February, up to $228,000, compared to $206,500 last year. In the same period, inventory also declined 9%. The city has seen its overall median price increase for 80 straight months, rising 97.4% since July 2011. World Property Journal
New Housing Stock Is Putting Even More Pressure on Abu Dhabi and Dubai Rents There’s no end in sight to rent declines in Abu Dhabi and Dubai, both of which are seeing more new developments opening up in their already-oversaturated markets. Referencing a “tenant-friendly market” and “widespread rental softening,” Cushman & Wakefield Core CEO David Godchaux also noted that tenants have the power to negotiate better terms, or shop around for cheaper homes. Dubai rents dropped 7.06% year-over-year in February, and in Abu Dhabi, they fell 11.08%. Khaleej Times