Real Estate

Dubai’s weeklong real estate deals hit AED10.3bn

  Dubai / WAM A total of 2,785 real estate transactions worth AED10.3 billion were conducted during the week ending 10th February, 2023, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 311 plots were sold for AED2 billion, while 1,999 apartment and villa sales totalled AED4.59 billion. The top three transactions were a ...

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UK property surveyors say buyers disappearing after rate rise

  Bloomberg UK property surveyors said the housing market settled further into hibernation in January as buyer inquiries, agreed sales and new instructions to sell all fell again. The lackluster activity, driven by higher interest rates and the tightest cost-of-living squeeze in generations, translated into a further drop in prices at the start of the year, the Royal Institution of ...

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London house prices flatline in worst performance since 2019

  Bloomberg London house prices flatlined, recording their worst performance in more than three years, one of the UK’s biggest mortgage lenders said. The cost of an average home in the capital hit £530,396 ($637,720) in January, unchanged from a year earlier, according to Halifax. This was the slowest rate of growth since November 2019, when prices fell by 1% ...

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Dubai’s weeklong real estate deals cross AED9bn

  Dubai / WAM A total of 2,157 real estate transactions worth over AED9 billion were conducted during the week ending February 3, according to figures released by the Dubai Land Department (DLD). The DLD report revealed that 237 plots were sold for AED1.56 billion, with an additional 1,920 apartment and villa sales recorded totalling AED5.77 billion. Ranking first in ...

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UK house prices in longest slump since 2008

  Bloomberg UK house prices fell for a fifth month in January, the longest string of declines since the financial crisis more than a decade ago, Nationwide Building Society said Wednesday. The mortgage lender said average home costs fell 0.6% this month and by a revised 0.3% in December, steeper than its previous estimate. The monthly decline was also more ...

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Falling property values create $55b funding shortfall in Europe

  Bloomberg Falling values are the latest headache for landlords in Europe who need to refinance their debt. It’s a problem for their lenders too. There’s a gap of €51 billion ($55 billion) between the amount owed by commercial property owners across Germany, France and the UK and the credit likely to be available for refinancing when the borrowings mature, ...

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Dubai’s weeklong realty deals exceed AED8.4bn

  Dubai / WAM A total of 2,786 real estate transactions worth over AED8.4 billion were conducted during the week ending January 27, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 285 plots were sold for AED1.7 billion, while 2,043 apartments and villas were purchased for AED4.43 billion. The top three transactions were ...

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Londoners are selling homes on WhatsApp

  Bloomberg A record share of Londoners are shunning property portals and opting to sell their homes on their own terms — which are increasingly negotiated over WhatsApp. Almost a quarter of London homes were sold off-market in the final three months of last year, according to broker Hamptons International. That’s more than double compared to the same period of ...

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Dubai issues 9,047 real estate permits in 2022

  Dubai / WAM The Dubai Land Department (DLD) has issued a total of 9,047 real estate permits and 6,479 real estate licences in 2022, showing a growth of 46.6 percent and 53 percent respectively from the previous year. The high demand from real estate investors is attributed to Dubai’s strong growth outlook and potential for high returns in the ...

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Dubai reports AED1.5b realty deals in one day

  Dubai / WAM Dubai real estate market recorded 520 sales transactions worth AED1.22 billion, in addition to 72 mortgage deals of AED216.8 million, and 15 gift deals amounting to AED98.13 million on Tuesday, data released by Dubai’s Land Department (DLD) showed. The sales included 440 villas and apartments worth AED902.79 million, and 80 land plots worth AED321.11 million. The ...

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