LordLand.AI’s Post

★ Dubai Real Estate: 𝐈𝐬 𝐭𝐡𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐡𝐢𝐟𝐭𝐢𝐧𝐠? ✱✱ The Dubai real estate market, after experiencing phenomenal growth in recent years, is now showing subtle signs of change. Post-COVID, we saw record-breaking transactions and a surge in foreign investment. However, the market is gradually returning to more typical conditions. ✱✱ An industry expert notes that while the market is still growing, the pace is slowing. This trend is expected to continue. Factors contributing to this shift include an increase in new property supply and sellers adjusting their price expectations. Previously, high demand and low supply drove prices up, but demand has softened. ✱✱ To accurately assess the market, it’s important to look at various data sets beyond just sales transactions, which can be delayed. Consider listing data, supply and demand metrics, mortgage data, and off-plan developer data for a timely understanding of market dynamics. ✱✱ At the end of last year, listing data began showing signs of a market shift. Since September 2023, the median residential listing price has declined by an average of 5% month-on-month. The average days on market for residential listings increased from 30 days last year to over 90 days in Q2 2024. ✱✱ Transaction data supports this trend. The Dubai Land Department reported a 2.9% decline in secondary/ready market residential sales transactions in Q2 2024, marking the second consecutive quarter of decline. ✱✱ Despite the slowdown in the secondary market, overall sales transaction volumes in Q2 2024 reached 40,936, worth AED 118 billion ($32.2 billion). This represents a 10% increase quarter-on-quarter and a 36% increase year-on-year. Of these, 65% were for off-plan properties, while 35% were in the secondary/ready market. ✱✱ The increase in off-plan property launches and completions is significant for Dubai's real estate future. In 2023, 107,145 new residential units were launched, with an additional 78,361 units launched so far in 2024. This reflects in Q2 off-plan sales transaction data, which shows an 18% increase quarter-on-quarter and a 64% increase year-on-year. ✱✱ While sales volumes are rising, the median off-plan sales price in Q2 2024 was AED 1.54 million, a slight 0.6% decline from Q1. Many individual sellers in these off-plan projects are selling at a loss to avoid upcoming developer payments they can’t afford. This trend is expected to continue as more off-plan supply enters the market. ★★★ Stay informed on the latest market trends to make strategic decisions. #realestate #marketshift #investment #propertymarket #dubaiproperties #markettrends #salesdata #propertylistings #realestatetrends

Residential property sales highest in a decade: Not affordable housing, but the luxury Real Estate market ( Over and above 1cr priced ) emerges as top favourite with more than 41% of the total sales with 51% YOY increase !! #RealEstate #Property #Housing #Loans #Luxury

Quebec Professional Association of Real Estate Brokers (QPAREB) data also showed a major uptick in activity, rising 44 per cent with 3,824 sales. It marked the fourth most active October since Centris began compiling the data in 2000. “Activity is taking off in the Montreal area, supported by improved market fluidity. The return of more favourable and sustainable financing conditions is encouraging both sellers and potential buyers to take action, and has increased the pool of households qualifying for a mortgage,” Charles Brant, QPAREB market analysis director, said in its October report. In a market where renting and multifamily living is more widespread than across much of the rest of Canada, sales of condos were up 47 per cent, single-family homes up 44 per cent and plexes up 34 per cent.  “Market conditions, which have fluctuated little for single-family homes and condominiums, have remained largely favourable to sellers. Although conditions still favour sellers, plexes are now closer to more balanced conditions,” QPAREB’s report states. “In this context, prices have continued to rise with the rate of increase remaining relatively steady . . .”

June 2024: A Record-Breaking Month for Dubai Real Estate Dubai's real estate sector reached new heights in June 2024, recording 14,370 property transactions worth a staggering AED 46.4 billion. Here’s an overview of how different segments performed, highlighting the relentless allure of Dubai’s property market. Exceptional Increase in Transaction Volume and Value The market saw an unprecedented 37.4% increase in transactions compared to June 2023, with the total sales value experiencing a 52.3% rise. The demand for real estate in Dubai showed no signs of slowing down, reflecting the city's ongoing appeal as a premier investment destination. Dominance of Residential Sales Apartments led the charge with 10,644 sales contributing AED 20 billion, up by 29.7% from the previous year. Villas followed suit with 1,615 sales totaling AED 8.5 billion, a slight 1.5% increase. Both segments demonstrate Dubai's robust market for residential properties, from high-rise apartments to luxurious villas. Surge in Commercial Properties and Plot Sales Commercial properties recorded 298 transactions, up by 11.2%, amassing AED 794.1 million. However, plot sales truly made headlines with 1,813 transactions worth AED 17 billion, marking a 363.7% increase from last year. This surge indicates a growing interest in developing personal and commercial properties in Dubai. Varied Trends in Property Prices The average apartment price was AED 1.2 million, down 6.3%, while villa prices soared by 29.1% to AED 3.6 million. Commercial properties averaged AED 1.4 million, a 20.3% increase. Plot prices also rose by 7.7% to AED 5.5 million, showing varied investor interest and market dynamics. Rental Market Insights The rental scene was vibrant with apartment rents rising to an average of AED 76.9K annually, a 22.1% increase. Villa rents saw a modest rise to AED 165K per year. Conversely, commercial property rents dropped significantly by 36.3% to AED 60.6K annually. Spotlight on Prime Locations and Projects June 2024 was notable for high-value transactions in areas like Bulgari Lighthouse Dubai and The Waterside Villas by Ellington, with sales reaching AED 148 million and AED 39 million, respectively. The popularity of off-plan projects like Bayz 101 by Danube and Sobha One highlighted ongoing investor confidence in future developments. Growing Mortgage Market The mortgage sector also witnessed growth with 3,345 transactions worth AED 12.1 billion, evidencing a 23.2% increase in volume and a 7.8% rise in value from the previous year. The record-breaking figures of June 2024 underscore Dubai’s enduring appeal as a dynamic hub for real estate investment. With diverse offerings and a thriving market, Dubai continues to attract a global audience, reinforcing its position as a top choice for luxury and investment.

The 2024 South African Residential Property Market Report by CAHF provides a comprehensive analysis of South Africa’s RESIDENTIAL property market, with a particular focus on the lower end of the market, including government-subsidised housing. Key Highlights Of The Report Include: 1. Market Size and Value: • As of December 2023, South Africa’s residential property market comprises 6.91 million properties valued at R6.789 trillion. • 76% of properties are valued under R1.2 million. • 32% (2.18 million) of the properties are government-subsidised. 2. Market Trends: • The market saw a downturn in 2023, with 20% fewer transactions and 26% fewer bonds issued compared to 2022, mainly due to rising interest rates. • Urban areas, particularly Gauteng and the Western Cape, dominate the market in terms of value and volume, accounting for 68% of the total market value. 3. Government-Subsidised Properties: • Government investment has significantly shaped the housing market, especially at the lower end, with nearly 70% of properties valued under R300,000 being government-subsidised. 4. New and Resale Transactions: • New residential transactions dropped by 24% in 2023, with most new builds being government-subsidised. • Resale activity also declined, with 19% fewer transactions, primarily in higher-value properties. 5. Mortgage Market: • Bonded transactions have decreased, with only 53% of transactions bonded in 2023, driven by high interest rates. • Nedbank is particularly active in issuing bonds for properties valued under R900,000. 6. First-Time Homeowners: • In 2023, 93,092 households became first-time homeowners, 21% fewer than in 2022, with a significant portion purchasing government-subsidised homes. 7. Challenges: • The availability of affordable housing is constrained, particularly for properties under R900,000, with limited private sector delivery at the lower end. • Barriers to accessing finance for low-income households persist, and the mortgage market is skewed toward higher-value properties. Recommendations: • Focus on the resale market, particularly for government-subsidised properties, by addressing the title deed backlog and informal transactions. • Expand affordable housing finance options to stimulate market activity, particularly in the lower-value segments.

The APCIQ reports a strong Q1 for 2024! Market activity has been crazy, with some sectors and Price-ranges experiencing over-bidding and multiple offers. Imagine if interest rates come slightly down … that will put some pressure on prices. My recommendation to buyer clients: Buy as soon as you can accord a property that will meet your needs! Montreal Numbers from the APCIQ: Montreal CMA The Montreal CMA posted 10,407 residential sales in the 2024 first quarter, up 20 per cent compared to the equivalent period last year. Nevertheless, the number of sales remained below the historical average for this time of year. Active listings in the Montreal CMA grew by 16 per cent compared to the same quarter of 2023. This increase was observed across all property categories. The number of months required to sell the inventory is thus up to 5.1 months (all categories combined). Between the first quarter of 2023 and that of 2024, median prices in the Montreal CMA varied between +4 per cent and +6 per cent. A 5 per cent gain in the median price of a single-family home was observed, and now stands at $553,250. The median price for condominiums was $395,000, up by 4 per cent. Plexes sold at a median price of $740,000, a 6 per cent increase. For more information, please contact me.

Monthly Market Report March 2024 Price growth spikes to highest rate since May 2023 as bright, shiny, and new off-plan projects begin to reshape the landscape of several communities across Dubai.  Average property prices rose a staggering 2.37% in March  Highest ever sales transaction volumes for March, up 11% year-on-year Mortgage activity declines marginally, yet loans for new purchases continue to gather strength  Off-plan project launches increase, averaging more than 1 launch every day in 2024 Following several months of modest price appreciation, Dubai’s property prices experienced a dramatic surge in March, recording a monthly gain of 2.37%—the largest month-on-month rise seen since May 2023. According to the Property Monitor Dynamic Price Index (DPI), Dubai property prices currently stand at AED 1,325 per square foot, 7.4% over the previous all-time high and market peak of September 2014. This significant increase, and departure from the trend that began in late 2023, can largely be attributed to the considerable variations in trading prices between existing homes and new off-plan properties. Out of the 42 communities that the index is tracked against 15 saw price per square foot premiums for off-plan in excess of 20%, with premiums as high as 93% and 91% in Dubai Sports City and Liwan respectively, where new apartment project launches differ drastically in quality and overall offering from some of the now ageing existing projects. In addition to this quasi gentrification in the apartment segment, price growth was also buoyed up by the renovation effect in the single-family homes segment, particularly with villas. Several villas which were snapped up as the market began to recover have undergone total renovations and been transformed from their original design aesthetic to modern homes, with many rivalling the newly launched counterparts. Sales transaction volumes continued their seemingly unstoppable ascent, surging by an impressive 14.7% in March to reach a total of 13,664 transactions. Not only does this set a new all-time record for the month of March but it also registered as the second highest monthly sales volume ever recorded. Residential transactions, encompassing apartments, townhouses, and villas, accounted for the majority of sales at 92% (12,565 transactions). The highest transacted commercial property types were hotel apartments (3.8%), office spaces (1.6%), and land sales (1.4%). In March, an impressive 7,768 off-plan Oqood transactions were recorded, boasting a substantial 21.7% increase from the previous month and a 3.3% uptick in market share to 56.9%. These figures represent levels of activity not witnessed since 2009, highlighting the magnitude of resurgence in the off-plan market. Meanwhile, Title Deed sale volumes also witnessed an increase, rising by 6.6% and now account for 43.1% of all sales transactions. https://lnkd.in/dzanjqZa

🏡Market Trends @ McAteer Solutions We are witnessing in-house the following market trends: Residential Property Trends: 1. High demand for bungalows in towns: We are witnessing a huge shortage across all of Northern Ireland which is leading to several bidding wars and an increase in value for bungalows no matter what age or condition of sale. 2. First Time Buyers Market is very strong and we are witnessing more First Time Buyers being able to finally get on the Property ladder. First Time Buyers are in a very strong position. We will see an increase over the next 3/6 months of more First Time Buyers jump onto the Property market as they have been preparing for a reduction of interest rates. With Bank Of England predictions - we hope to see a drop of further interest rates. Leading to a stronger Frist Time Buyer market. With a domino effect for home-movers. Which is a win-win for the market. 3. Strong Cash Investors are still here in Northern Ireland and we have witnessed an increase in the last 30 days of International buyers visit us to purchase premium residential properties. 4. Strong Northern Ireland investors are purchasing homes from £90-£150k. We are witnessing investors come back into the market with new money from cashing in on larger properties due to demand. 5. We are witnessing investors cashing in on property bought back pre-2007 on interest only mortgages. To break even now! 6. Premium homes priced around £450-£550k are on demand; as we are witnessing buyers wanting to buy rather than to take on a self-build mortgage. They are happy to purchase from a builder a premium property rather than to build. 7. We are witnessing demand on FPP sites across Northern Ireland for builders. As builders are purchasing one-off sites to build and then sell on. These tend to be the premium homes situated on frontage sites. Commercial Property Trends: 1. Office space is a new trend in Business & Commercial Parks. We are witnessing a demand for this type of office space and companies are happy to share communal kitchen spaces as it’s a new trend happening. 2. Commercial land is in high demand right across Northern Ireland. We are witnessing price per acre increase with several new sales lately. 3. We are witnessing commercial buyers look for a mix of commercial/residential. This type of property is in high demand on the High St. 4. With regards office space we are witnessing an increase to the market for sales. As more people are now returning back to the office after working from home for many years. Again investors like to reduce their risk and prefer to buy the mix of commercial/residential as stated in fact 3. 5. We are also witnessing an increase of large Northern Ireland companies reach out to us for large commercial plots - high demand. If you would like to discuss any of the above. Please reach out to me on 02879659444 or email olga@mcateersolutions.co.uk www.mcateersolutions.co.uk #wekeepitreal #estateagents

Selling your home and struggling to get a buyer? It is probably overpriced, so do this instead: If you are selling your property and finding it extremely difficult to hook a buyer you are not alone. According to the FNB Residential Property Barometer and the Lightstone Residential Property Index, residential property prices are stagnant in SA. The FNB House Price Index showed just 0.6% growth year-on-year in January. In terms of the growth of house prices per province, Lightstone’s latest data from 2023 showed the highest growth was in the Western Cape, at 4.8%, Mpumalanga was also at 4.8%, Limpopo was 4.3%, while the lowest growth was recorded in Gauteng at 0.4%. The South African real estate market is battling elevated inflation, economic uncertainty and slow house inflation, coupled with stagnant housing prices. Moreover, the market is facing a repurchasing rate that is at a 15-year high. National residential property price inflation was 1.6% in December 2023, according to Statistics South Africa (StatsSA). Essentially, property prices were 1.6% higher in December 2023 compared to December 2022. What can sellers do? You need to know the reasons why your property is not selling, Cobus Odendaal from Lew Geffen Sotheby’s International Realty noted. “Although we have no control over the interest rate and current state of the market, there are several key factors that are within sellers’ control which can impact a home’s saleability and by addressing them, sellers can enhance their chances of selling their home in a timely manner, even in these challenging economic conditions,” Odendall added. One of the major factors so many sellers get wrong is overpricing your property when you place it on the market Odendall said that homeowners, in a bid to maximise profits, will inflate their listing price beyond the market’s tolerance. He argued that this is usually counter-productive and the most common reason for homes languishing on the market. “It’s commonplace for sellers to enter the market with unrealistic price expectations, but it’s essential for sellers to price their homes in line with current market conditions if they want to secure a sale,“ he added. Odendall advised that sellers need to conduct a comparative market analysis to accurately gauge their home’s value and adjust the price accordingly. Choose a good real estate agent He finally advised homeowners that when you decide to sell your home, the selection of your estate agent can make a world of difference. Odendall said that the best approach is to interview at least two or more agents in your area and make your decision based on factors such as their proven sales record and their experience in the local market. He warned against picking the agent who promises the highest price – or the lowest agent fee, as, more often than not, this will prove to be a false economy as a good agent…

As an estate and letting agent in London, it's always exciting to report positive trends in the property market. The first half of 2024 has shown remarkable growth compared to the same period in 2023, highlighting a robust and vibrant housing sector. Every region has seen growth in the number of homes sold stc. Looking at each region… · Leading the growth is East Anglia, where house sales surged from 52,573 in Q1/Q2 2023 to 64,722 in the same period of 2024, marking a 23.1% increase. This significant uptick demonstrates the area's appeal to buyers and investors alike. · In joint second, The East Midlands saw a growth of 17.2%, with sales climbing from 37,650 to 44,115. This is a clear indicator of rising demand and growing confidence in the region. · Sharing the second place podium is London, which also experienced a 17.2% growth, with sales increasing from 51,984 to 60,914. Despite the city's high prices, its allure remains strong, attracting numerous buyers. · Next is the South East, with sales up from 79,702 to 93,093, resulting in a 16.8% increase. This region continues to be a hotspot for property buyers. · The West Midlands also saw a significant increase of 15.8%, with sales up from 41,405 to 47,941. · In the North West, sales climbed from 56,496 to 65,368, representing a 15.7% increase. This steady growth highlights the region's robust market conditions. · Yorkshire witnessed a 14.9% growth, with sales increasing from 40,571 to 46,621. · The North East experienced a growth of 13.1%, with sales going from 20,656 to 23,362. This growth, though smaller compared to other regions, still signifies a positive trend. · In the South West, sales increased from 53,528 to 60,071, a 12.2% growth. · Wales experienced an 11.2% increase, with sales rising from 23,339 to 25,948. · Scotland performed well, with sales increasing from 42,022 to 46,832, an 11.4% growth. · In last place, yet not least, Ulster saw a modest increase of 10.4%, with sales rising from 11,408 to 12,599. This positive trend across all regions is excellent news for homeowners and investors alike. If you're considering moving in the next 6 to 12 months, don't hesitate to give me a call for a no-obligation chat. The current market conditions are favourable, and I'd be delighted to assist you in making the most of this exciting time in London's property market.