Bloomberg New US home construction fell in July by more than forecast to the slowest pace since early last year as builders adjusted to a pullback in demand and a pickup in the inventory. Residential starts dropped 9.6% last month to a 1.45 million annualised rate from a revised 1.6 million pace in June, according to government data. The ...
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Irish house prices rise
Bloomberg Irish house prices rise to the highest since 2007 in June, matching the peak seen before the country suffered one of the worst property crashes in Western Europe. It’s taken over 15 years for prices to recover from the property crash that almost bankrupted the country, forcing it to seek an international bailout in November 2010. The national ...
Read More »Emaar’s first-half sales rise 5% to AED17.67bn
Dubai / Gulf Time Emaar Properties (Emaar), announced good growth in first half profitability, underpinned by robust property sales and growth in the performance of recurring revenue businesses. This performance is testament to the continued confidence in Emaar’s brand and overall post-pandemic recovery of Dubai’s economy, led by the real estate market. Led by robust performance of its core ...
Read More »Dubai reports $2.64bn realty deals in 7 days
Dubai / WAM A total of 2,433 real estate transactions worth AED9.7 billion ($2.64 billion) were conducted during the week ending August 12, according to figures released by Dubai Land Department. A total of 326 plots were sold for AED1.64 billion, while 1,567 apartments and villas were purchased for AED3.12 billion. The top three transactions were a land plot ...
Read More »Stockholm apartment prices drop most since pre-Covid era
Bloomberg A drop in Swedish apartment prices picked up speed last month, adding to evidence that the property market in the largest Nordic nation is floundering. The average cost was 4% lower in July than the previous month, marking the fastest decline since before the pandemic, according to data by Svensk Maklarstatistik. House prices decline 1 percent from June. ...
Read More »UAE announces new reporting rules for real estate transactions
Abu Dhabi / WAM The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions conducted in the UAE. The UAE is one of the first countries to implement such a mechanism for real estate transactions involving ...
Read More »Dubai’s week long real estate deals hit AED5.3b
Dubai / WAM The real estate and properties transactions valued at AED5.3 billion in total during the week ending August 5. The sum of transactions was 2,247. 255 plots were sold for AED1.24 billion, 1,510 apartments and villas were sold for AED2.79 billion. The top transactions were a land in Hadaeq Sheikh Mohammed Bin Rashid sold for AED106.57 million, ...
Read More »Toronto home prices drop for 4th month
Bloomberg Toronto benchmark home prices fall for a fourth-straight month, a record-breaking streak of declines that some economists warn could become an historic downturn in Canada’s real estate market. The home-price index in Canada’s largest city declined 3.9% in July from the month earlier, bringing the total drop since April to 13.3%, according to data released on Thursday by ...
Read More »Britain’s housing market feels heat from rising interest rates
Bloomberg The UK’s bleak economic outlook and rising interest rates are finally biting into the country’s housing market, the latest figures from Britain’s lenders show. NatWest Group Plc reported net mortgage growth of £3.3 billion ($4 billion) in the second quarter, down from £3.6 billion in the same period last year. Barclays Plc reported near stagnant growth in home ...
Read More »Dubai records AED22.75 billion worth of real estate deals in June
DUBAI / WAM Dubai’s real estate market recorded a total of 8,897 sales transactions worth AED22.75 billion, the highest volume of sales transactions for the month of June in the past nine years, according to Mo’asher, Dubai’s official sales price and rental performance index. The month of June witnessed a 34 percent increase in terms of volume and a 24.8 ...
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