Month: June 2024

Other

GCC states will create $1-2 trillion in wealth by 2025, reveals Juwai IQI – Gulf Today

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Top officials during the press conference in Dubai. Inayat-ur-Rahman, Business Editor The Gulf Cooperation Council (GCC) countries will become one of the leading regions to achieve economic progression in the next few years and adding $1-2 trillion of wealth by 2025. In an exclusive interview with Gulf Today Kashif Ansari,  co-founder and Group CEO of Juwai IQI stated that global investors are moving to the GCC due to high level of economic growth in the region. Ansari shared that five sectors would contribute to the overall wealth generation in the…

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Dubai

Building a future in Dubai: Benefits of UAE real estate investment for Jordanians – Ammon News

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Ammon News – A fascinating federation of seven emirates tucked away in the center of West Asia, the United Arab Emirates (UAE) has become a worldwide symbol of growth and progress. Past Dubai’s flashy skyscrapers and opulent pleasures, the United Arab Emirates provides a diverse tapestry of history, culture, and stunning natural settings. This thorough article explores the many reasons to invest in the United Arab Emirates, including its unfailing dedication to security, a wide range of financial options, and the guarantee of a great quality of life in every…

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Other

Gowanus Is Toxic. Luxury Real-Estate Buyers Don’t Care. – Curbed

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Photo-Illustration: Curbed; Photos: Getty For nearly a year now, the Department of Environmental Conservation has been quietly investigating 100 blocks in Gowanus for the presence of cancer-causing fumes, a response to the high concentrations of trichloroethylene vapors, 10,000 times over the allowable amount determined by the New York State health department, that were discovered a few years ago at the Royal Palms Shuffleboard Club at 514 Union Street. Similar tests conducted last year showed dangerously high levels of the vapor, the remnants of an industrial solvent that collects in the…

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California

Southern California home prices hit another record in May, despite sluggish sales – OCRegister

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Southern California home prices continued to push ever upward last month, ascending to a record high despite sluggish sales and high mortgage rates. The region’s median price home — or the price at the midpoint of all sales — climbed to the all-time high of $770,000 in May, real estate data firm CoreLogic reported Tuesday, June 25. Price records also were set in Los Angeles, Orange and San Diego counties, while Riverside County’s price matched the record high set in April. Also see: Orange County rises to No. 1 home-price gains…

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California

California home prices hit another record high at $908,040 – OCRegister

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“How expensive?” tracks measurements of California’s totally unaffordable housing market. The pain: Yes, California, there’s a new record high for the median sales price for existing, single-family houses. The source: My trusty spreadsheet reviewed May’s homebuying report from the California Association of Realtors, which includes data dating to 1990, to try to make sense of the continuing upswing. The pinch The typical California homebuyer paid $908,040 in May, up 9% in a year and 56% above the 2018-19 average price. It was the second consecutive month for a record high.…

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California

California home prices hit another record high at $908040 – OCRegister

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“How expensive?” tracks measurements of California’s totally unaffordable housing market. The pain: Yes, California, there’s a new record high for the median sales price for existing, single-family houses. The source: My trusty spreadsheet reviewed May’s homebuying report from the California Association of Realtors, which includes data dating to 1990, to try to make sense of the continuing upswing. The pinch The typical California homebuyer paid $908,040 in May, up 9% in a year and 56% above the 2018-19 average price. It was the second consecutive month for a record high.…

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California

California home prices hit another record high at $908,040 – The Mercury News

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CALIFORNIA MEDIAN HOME PRICE (Chart by Flourish) “How expensive?” tracks measurements of California’s totally unaffordable housing market. The pain: Yes, California, there’s a new record high for the median sales price for existing, single-family houses. The source: My trusty spreadsheet reviewed May’s homebuying report from the California Association of Realtors, which includes data dating to 1990, to try to make sense of the continuing upswing. The pinch The typical California homebuyer paid $908,040 in May, up 9% in a year and 56% above the 2018-19 average price. It was the…

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Las Vegas Nevada

Study Exposes Top 100 Most Overpriced Housing Markets: Detroit, Atlanta, And Las Vegas Lead The List – Benzinga

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Researchers Ken Johnson and Eli Beracha have developed a system to rank the top 100 most overpriced or underpriced metro areas in the U.S. using open-source data from Zillow and other providers to help people see the premium or discount they might be paying for their homes. Their data shows that homebuyers in the Detroit metro area are paying a hefty premium for their homes, with prices soaring 40.79% above what they should be. At the end of May, the average home price in Detroit reached $254,325, but based on…

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Dubai

The 10 Best Areas in Dubai to Buy Real Estate – InvestAsian

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Downtown Dubai, home of the Burj Khalifa, offers a mix of ultra-luxurious apartments in sleek high-rises and more traditional low-rise residences. The ROI for apartments in Downtown Dubai is a respectable 5.2%, and the area’s enduring appeal as a tourist hotspot and business hub bodes well for long-term capital appreciation. To get the most bang for your buck, focus on properties with Burj Khalifa or fountain views, which are highly sought-after and command top dollar in the rental and resale markets. Palm Jumeirah For those seeking a truly exclusive beachfront…

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Abu Dhabi UAE

Abu Dhabi’s luxury real estate boom: 9 projects to watch – Gulf Business

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Image credit: Supplied Abu Dhabi’s real estate market is experiencing a surge in demand for premium properties, with luxurious waterfront apartments and exclusive villas leading the way. The city’s skyline is evolving with impressive new developments that reflect its prominence in luxury living and avant-garde architectural styles. Here are some of the most anticipated luxury projects transforming Abu Dhabi 1. Al Jurf Location: Sahel Al Emarat, near Ghantoot Image credit: Supplied Al Jurf is a sprawling residential development featuring 1,500 villas. These homes are designed to blend traditional influences with…

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USA

Globally, insurers have up to 12% participation in commercial real estate market – study – Ukraine open for business

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Globally, insurers have 9-12% participation in the commercial real estate (CRE) market through direct and indirect investments in mortgages, bonds and directly owned real estate, according to a Gallagher report on its website. Insurance companies are major investors in commercial real estate, with U.S. and European insurers investing approximately 12% and 7% of their investment portfolios in the sector, respectively. A potential recession, especially one caused by commercial real estate, has caused some concern in both the life and life insurance industries. Also among the key findings of the report…

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Las Vegas Nevada

Henderson Housing Market Trends and Forecast 2024 – Norada Real Estate Investments

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The housing market in Henderson, NV, has been garnering substantial attention in 2024. If you’re looking to buy, sell, or invest, it’s essential to understand the current trends, future predictions, and where Henderson stands in comparison to other popular areas like Summerlin. How is the Henderson NV Housing Market Doing in 2024? Current Trends in Home Prices As of June 2024, home prices in Henderson have witnessed a marked increase. Redfin reports that the median home price is $495,000, up by 7.6% compared to the previous year. Similarly, Zillow mentions an average home value of $484,265,…

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USA

The housing market is ‘stuck’ until at least 2026, Bank of America warns – CNN

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New York CNN  —  Help may not be on the way for first-time homebuyers frustrated by high mortgage rates and even higher home prices. Economists at Bank of America warned this week that the US housing market is “stuck and we are not convinced it will become unstuck” until 2026 — or later. The bank said home prices will stay high and go even higher. The housing shortage will persist. And mortgage rates may not fall much — even if the Federal Reserve finally delivers long-delayed interest rate cuts. “This…

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USA

Real Estate Outlook – Europe, Edition May 2024 – UBS

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The direction of capital values is a tug of war for now There are four distinctive yet interconnected factors to consider when we estimate where we are in the capital value cycle: the gap between appraisals and transaction values, (long-term) interest rates, leasing market fundamentals and market sentiment. We know that appraisal and transaction values can become disconnected, especially when fundamentals, such as interest rates, change quickly. The UK appraisal methodology focuses more on updating valuations so that they reflect potential transaction prices, while eg, German appraisers have the tendency…

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