Prime Dubai real estate surged 70.3% 12 months to September Represents highest growth among all of the surveyed countries Source – Knight Frank Global Index (tracks top 5% of homes by value) – compares to just 2.5% in London Dubai continues to grow while most of the rest of the world enters a property slowdown Mukesh Ambani revealed as buyer of AED 600 million villa Indian billionaire...
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US Inflation rose more than expected in September Inflation was 8.2%, coming in higher than most forecasts Most worryingly, ‘Core’ inflation was 6.6% which is the highest since 1982 Makes it almost certain that rates will increase by 75 bps in November, and more likely that the Federal Reserve will make the same 75 bps increase in December Direct impact on mortgage rates here in the...
• Co-Habitation Rules o Tenants are now required to register all the co-habitants in their property. o This includes all family members and domestic helpers, but also includes shared accommodation (since 2020 the UAE now permits co-habitation of unmarried couples or unrelated housemates). o It applies to anyone who is staying in a property who is in the UAE on a visit visa for longer than one...
We anticipate an increase in the number of Russian nationals moving to the UAE in Q4 due to the mobilization / conscription that was announced by Vladimir Putin last week. Flights from Moscow to Dubai were somewhere between $5,000 - $10,000 in the days following this announcement. KP View - This is likely to have a positive impact on the Dubai market, especially for sea-facing...
Dubai Real Estate Market News: Dubai property prices up 8.8% year on year Apartments up 7.7% Villas up 15.8% Biggest month-on-month increase – Palm Jumeirah (1.9%) Biggest month-on-month decrease – Jumeirah Islands (-3.4%) Dubai rents up 24.8% year on year Average annual rent for a villa now AED 263,000 per year Highest average annual rental location – AED 935,000 Al...