Could you benefit by refinancing?

16 February 2021

Dubai resident Nilesh Jain switched his mortgage provider last year after realising he was paying 2.5 per cent more than the prevalent market rate for home loans in the UAE. He was paying a hefty 6 per cent interest rate to Dubai Islamic Bank for his mortgage, compared with the average market rate of about 3.5 per cent in 2020.

The Indian expat had originally taken out a Dh2.25 million mortgage for his Arabian Ranches villa from Tamweel in 2007. In … Read more ›

Worldwide property demand remains strong despite challenges of 2020

07 December 2020

2020 will go down as the year when global house prices should have crashed as Covid-19 sent the world hurtling into recession, but somehow didn’t.

A combination of monetary stimulus, near-zero interest rates and steady demand helped underpin the market, sustaining prices and activity.

Incredibly, the worldwide house price boom even accelerated in many countries across Europe, Asia-Pacific, the US and Canada, according to Globalpropertyguide.com. It found that prices rose in 45 out of 55 housing markets for the 12 months to September … Read more ›

Henry Wiltshire’s premium Mamsha apartment features in The National

11 October 2020

The UAE is home to some spectacular properties. From penthouse apartments to plush villas with sprawling gardens and incredible pools, it’s a real estate haven.

Each week, The National is showcasing some of the best homes on offer with its Property of the Week. This week, we take a look at a three-bedroom apartment at Mamsha Al Saadiyat, a development by Aldar Properties.

The key details
Located in the Cultural District of the capital’s sought-after Saadiyat Island, this three-bedroom apartment is within walking distance … Read more ›

Property market surges – shortage of certain property types

16 September 2020

Despite a downward trend in property prices, sentiments in Dubai’s real estate sector are high owing to the recent developments in UAE-Israel relationships and pent-up demand over the last few months leading to an uptick in sales. The historic UAE-Israel peace deal was signed in Washington yesterday and this will play a positive role in attracting investments in real estate, say industry experts.

Andrew Cummings, co-founder and managing director of luxuryproperty.com says both the UAE and Israel share many synergies. The … Read more ›

Good news for Abu Dhabi Property market with strong results from Aldar

17 August 2020

Aldar Properties, Abu Dhabi’s biggest listed developer, reported a 2 per cent jump in its second-quarter net profit as the company recorded higher revenue, despite restrictions to contain the spread of Covid-19.

Net profit attributable to owners of the company for the three months ending June 30 rose to Dh484 million, the company said in a statement to Abu Dhabi Securities Exchange where its shares trade. Revenue climbed 21 per cent to Dh2 billion during the period driven by “robust demand for its … Read more ›

UAE property market inviting to international investors

11 August 2020

Dubai’s property market became more competitive globally, as prime residential property capital values declined 3 per cent in the first half of 2020, while Seoul recorded the biggest price rise in the same period, Savills said.

Global prime residential prices fell 0.5 per cent due to the immediate impact of the Covid-19 pandemic and subsequent shutdowns that disrupted real estate markets, Savills’ latest Prime Residential World Cities Index report found.

“Global uncertainty was already weighing on prime residential markets in 2019, with modest falls … Read more ›