Abu Dhabi property market moving in a positive direction

29 October 2019

Property sales prices in Abu Dhabi have taken a positive turn with the prices either holding steady or slightly increasing during the third quarter of 2019.

Bayut’s latest market report shows that the Abu Dhabi real estate market offers healthy conditions for home buyers and investors after the opening of key investments zones for freehold expat property ownership.

During Q3, neighbourhoods like Al Reem Island, Al Raha Beach, Al Reef and Saadiyat Island dominated the investment sector while established suburbs such as … Read more ›

London market prices on the rise

22 October 2019

Asking prices for London homes rebounded in October amid a scarcity of new properties, with areas closest to the center of the U.K. capital seeing the biggest gains.

Values climbed 2.4% to 603,855 pounds ($778,000) on average, Rightmove Plc said in a report published Monday. New listings were down 30% on the year, showing how the Brexit crisis has made prospective sellers reluctant to take the plunge.

Properties in London’s central transport zone saw asking prices jump 6.4% from September, making it … Read more ›

JP Morgan sees long-term growth in Middle East

13 October 2019

JP Morgan, the biggest US lender by assets, is undeterred by a slowdown in Middle East economies and sees long-term growth for its business in the region, as sovereigns and corporates continue to issue debt, attract investment and drive mergers and acquisitions deals.

The lender, which has the biggest share of the global investment banking market, does not plan to alter its business strategy in hydrocarbon-rich economies facing headwinds on the back of oil price volatility and softening of global growth, … Read more ›

UAE Central Bank mortgage settlement rates dropped to just 1%

13 October 2019

The UAE Central Bank removed the 3 per cent early settlement fee for mortgages introduced last year and reverted to a 1 per cent, or Dh10,000, cap as part of a series of moves aimed at easing home loan rules.

A maximum age requirement, which stipulates that loan holders must be under 70 before their last repayment is due, was also lifted by the central bank, according to a statement released on Thursday. Age requirements will now be set by lenders … Read more ›

UAE’s market rebound! A positive outlook on UAE’s property market by financial journalist Peter Cooper.

02 October 2019

Housing markets always require a magic spark or catalyst that causes a recovery.

The UAE property sector has softened since December 2014 as oil prices tumbled. The decline came following the authorities’ doubling of fees on sale transactions to 4 per cent and significantly increasing the down payment required on mortgages to deter market speculation and flipping of property.

Since then, however, oil prices have rebounded and the speed at which property prices are declining has slowed, which is generally a good … Read more ›

Mortgage rate drops offering more affordability and opportunity

22 September 2019

Lower interest rates in the UAE will incentivise borrowing particularly for mortgage products and spur economic growth, according to analysts, but savers will once again face lowers returns.

The Central Bank of the UAE cut the interest rate by 25 basis points (bps) to 2.25 per cent on Thursday following the US Federal Reserve’s decision to cut its benchmark rate by one quarter of a percentage point to a range of 1.75 per cent to 2 per cent as the US … Read more ›