Real Estate

Bloomberg UK house prices rose unexpectedly in February, continuing a surge fueled by a temporary tax relief on purchases and Covid-induced shifts in people’s lifestyles. Values increased 0.7% from January to an average of 231,068 pounds ($321,000), Nationwide Building Society said. They climbed 6.9% from a year ago, accelerating from the 6.4% pace registered a month earlier. Housing boomed last ...

Bloomberg Swedish house prices soared to the highest level ever recorded, as a growing number of people make use of unprecedented central bank stimulus to upgrade into bigger homes. “From a credit perspective, one can only conclude that the market has been gripped by hysteria, which is connected to central banks pumping money into the system,” said Carl Johan Lagercrantz, ...

AJMAN / WAM The value of real estate transactions in the Emirate of Ajman amounted to AED793 million in February, according to the monthly report issued by the Department of Lands and Real Estate Regulation. The report noted the stable performance of the emirate’s property market. The month witnessed the registration of 454 real estate transactions during February with the ...

ABU DHABI / WAM The value of real estate transactions in Abu Dhabi in 2020 totalled AED74 billion, with 19,000 transactions being executed, including sales and mortgages of land, buildings and real estate units for all types of land use, a rise of 28 percent compared to 2019, which recorded a value of AED58 billion. A report by the Department ...

Bloomberg The biggest US homebuilders group urged the Biden administration to help increase lumber supply, saying record-high costs threaten to price potential home buyers out of the market and curb construction. The administration needs to remove import tariffs on Canadian lumber and urge producers to boost output, the National Association of Home Builders (NAHB) said on its website. In November, the ...

DUBAI / WAM Dubai’s real estate market continued to be attractive to local and global investors in 2020, with the sector recording 51,414 transactions representing a value of over AED175 billion, according to the annual transaction report issued by the Dubai Land Department (DLD). The report revealed that real estate sales reached AED72.5 billion with 35,423 transactions, while mortgages recorded ...

Bloomberg UK lenders approved more mortgages in 2020 than in any year since before the financial crisis, as house hunters sought to take advantage of a temporary tax cut. The stamp duty holiday, which allows buyers to save as much as 15,000 pounds propelled the housing market into high gear even as the coronavirus crisis sent the wider economy into ...

Bloomberg New-home sales in London are plummeting as lockdowns hurt demand and investors hold back from building apartments. Sales of newly built homes totaled 4,190 in the fourth quarter, down 27% from a year earlier, according to preliminary data compiled by researcher Molior London. The figures are based on transactions at developments with at least 20 units, which are predominantly ...

AJMAN / WAM The annual real estate report issued by the Department of Land and Real Estate Regulation in Ajman highlighted the stable performance of the emirate’s real estate market, noting that real estate transactions in 2020 totalled AED8.9 billion. Nasser Al Marzouqi, Deputy Director-General of the Department, stressed that Ajman’s real estate sector has maintained its positive performance, due ...

Bloomberg Not since the lead-up to the 2008 financial crisis has Denmark’s housing market faced a similar gap between supply and demand, according to the home finance unit of Nordea Bank Abp. The number of residential properties for sale has plunged to its lowest in over a decade, Nordea Kredit estimates, citing new figures compiled by the website boligsiden.dk. The ...