23 Jun 2023

Banks in the UAE have eased their requirements for mortgage approvals on off-plan properties, allowing buyers faster access to financing. Previously, lenders would only grant loans once a project reached 80 percent completion, but now they are willing to provide mortgages when the project reaches the 50 percent or higher stage. This change is expected to have a positive impact on the UAE property market, benefiting both residents and international investors. It is especially advantageous for newcomers to the UAE who previously faced challenges in obtaining mortgage approvals.Read more

23 Jun 2023

Ho Chi Minh City (HCMC) has been identified as one of the least affordable housing markets in the Asia Pacific region, according to a report by the Urban Land Institute (ULI). The median home price in HCMC is 32.5 times the median annual household income, making it the second least affordable city in the region. The report also reveals that HCMC has a higher median home price compared to other Vietnamese cities, with Da Nang ranking fourth in terms of affordability.Read more

23 Jun 2023

Sweden's housing construction sector faces a substantial setback as data from May reveals a significant 50% decline in housing starts during the first quarter. The plunge can be attributed to multiple factors such as escalating interest rates, soaring construction expenses, and dwindling demand, severely impacting building companies. To counter this worrisome trend, the Swedish government has announced its proactive stance in formulating a series of incentives. These measures aim to revive the housing construction industry by alleviating financial burdens, boosting investor confidence, and revitalizing demand.Read more

22 Jun 2023

Actor Jim Carrey has listed his Brentwood estate for sale. The impressive ranch-style mansion, priced at $26.5 million, offers luxurious living spaces, including five bedrooms, six full bathrooms, and three half baths. The residence features high-beam ceilings, skylights, and Jim Carrey's own art collection. The property also includes a chef's kitchen, a central courtyard, a home theatre, a gym, and a home office. Outside, the two-acre grounds offer amenities like a tennis court, a swimming pool with a waterfall, and serene walking paths.Read more

22 Jun 2023

The Costa del Sol in southern Spain's Andalusia region has become increasingly popular among individuals from the United Kingdom, Sweden, and the Netherlands looking to buy property. With its beautiful beaches, sunny climate, vibrant lifestyle, and a range of attractions including picturesque towns, golf courses, and nightlife, Costa del Sol is an ideal destination for vacationers and those seeking a permanent residence. The United Kingdom leads in foreign investment, followed by Sweden and the Netherlands, while desirable locations such as Marbella, Estepona, and Fuengirola attract buyers from these countries and beyond.Read more

22 Jun 2023

Chinese investments in Malaysia have reached over US$38 billion, accounting for a significant portion of Malaysia's GDP. Malaysia has emerged as one of the top choices for Chinese commercial property investors, surpassing previous years and overtaking other regions. Key destinations for Chinese investors include Johor, Kuala Lumpur, and Selangor, with Johor benefiting from its developed economy and proximity to Singapore. The ongoing Johor Bahru-Singapore Rapid Transit System (RTS Link) is expected to further enhance investment prospects in the region.Read more

21 Jun 2023

The Government of Dubai, under the leadership of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has distributed 11,500 plots of land to its citizens and provided housing loans totaling Dh7 billion to 7,000 beneficiaries. The government has allocated funds to support citizens with low incomes and individuals with disabilities. Additionally, initiatives such as the Bayti program aim to provide extra funds for citizens with limited incomes to construct, complete, or furnish their homes. The government is committed to enhancing the quality of life for its citizens, focusing on areas such as healthcare, Emiratisation, and investment opportunities.Read more

21 Jun 2023

Bank of Korea Governor Rhee Chang-Yong has expressed concerns about increasing risks in the financial sector, particularly due to a rise in overdue real estate loans. While the housing market is slowly recovering, Rhee emphasized the need to find ways to gradually reduce household debt in collaboration with relevant institutions. Rhee called for enhanced collaboration with regulatory authorities and the development of necessary measures to ensure financial stability. Additionally, Rhee cautioned against premature confidence in inflation easing and stressed the importance of a well-thought-out policy response to address economic growth and price pressures.Read more

20 Jun 2023

After 180 years of horse racing, Singapore is closing its only racecourse to make way for public housing. The decision aims to optimize land usage for the benefit of the community and future generations. The government plans to reclaim the 120-hectare site in 2027, with the last race meeting scheduled for October 2024. As Singapore faces rising real estate prices, the closure comes as the government reviews land use policies to meet present needs and ensure sufficient land for the future. The site's potential uses include leisure and recreation, but housing, particularly public housing, will be the primary focus. The closure coincides with increasing demand for housing in Singapore, leading to rising resale prices and rental costs.Read more

20 Jun 2023

Toronto's housing market showed signs of rebounding in May, with a 20% increase in home sales compared to April and a 25% increase compared to the previous year. The desire for homeownership has surged as borrowing costs increased, prompting potential buyers to re-evaluate their housing needs and return to the market. However, sellers are holding out for higher prices, leading to a slower pace of new listings and an imbalance between supply and demand. The average selling price of a home in May was $1,196,101, slightly higher than April but 1% lower than the same period last year.Read more