Dubai’s property scene seems to be on an unstoppable rise, with 2024 projected to be another record-breaking year in terms of sales figures and property values. The demand for property, particularly in the luxury segment, is driving prices up across the city. While this may seem like good news for the real estate market, it
Real Estate
The disconnect between the strong performance of the U.S. economy and the pessimistic sentiments of the population has finally shown signs of improvement. Economists are now observing a shift away from the prolonged negativity, which has been coined as the “vibecession.” According to Michael Pearce, deputy chief U.S. economist at Oxford Economics, as inflation rates
Despite various attempts to stabilize the Chinese economy, the property market in China continues to face challenges. Bill Winters, CEO of Standard Chartered, expressed his concerns about the uncertain investing environment in China. He highlighted the low consumer confidence and international investor confidence, attributing them to the unresolved issues in the property market. Winters noted
Nobel Prize-winning economist Joseph Stiglitz has criticized the Federal Reserve’s monetary policy tightening and its impact on inflation. Stiglitz argues that the Fed needs to make a significant interest rate cut to address the inflation problem that has been exacerbated by the central bank’s actions. He emphasizes the importance of normalizing interest rates but believes
The real estate market is currently experiencing a shift in dynamics, with the supply of homes for sale increasing at a rapid pace. According to a recent report from Realtor.com, active listings in August were up by 36% compared to the same month last year, marking the 10th consecutive month of annual growth. Despite this
The buy-to-let market in London is facing a crisis as landlords are rushing to sell their properties amidst anticipated tax hikes from the U.K. Labour government. Recent data published by property portal Rightmove has shown that almost one-third of homes currently for sale in the capital were previously rented out. This trend is not limited
In recent weeks, the mortgage market has seen a significant shift towards refinancing, with interest rates declining for the fifth consecutive week. According to the Mortgage Bankers Association, total mortgage application volume increased by just 1.6% last week compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages also saw a
China’s housing market continues to struggle despite various government stimulus efforts. JPMorgan economist Haibin Zhu believes that these measures have been inadequate in supporting the sector. Home prices are still facing downward pressure, with projections suggesting that stability may not be achieved until 2025 at the earliest. Recent data released by China Index Academy paints
The Rupert Murdoch-owned REA Group has recently announced its consideration of a takeover offer for the U.K. property portal Rightmove. This move reflects the company’s ambition to create a global digital real estate business. The Australian property listings company, controlled by Murdoch’s News Corp, is evaluating the option of a cash and share offer for
In recent months, the US real estate market has seen home prices soar to unprecedented levels, reaching the highest point ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Despite a slowdown in the pace of annual gains, prices nationally were still 5.4% higher than the previous year, showcasing the ongoing demand for