Latest news with #Zaslansky
IOL News
a day ago
- Business
- IOL News
Hot property, cold dreams: Cape's soaring home prices freeze out first-time buyers
Houses are simply getting more expensive – positive for sellers – yet leaving prospective first-time buyers out in the cold and stuck in the rental market. Image: Unsplash Houses are simply getting more expensive – positive for sellers – yet leaving prospective first-time buyers out in the cold and stuck in the rental market. Statistics South Africa's latest data shows that residential property increased by a whopping 5.2% in January from the prior year, faster than the official inflation rate of 3.2% in that month. There were, however, differences as to where prices increased the most, with those looking to buy in the Western Cape set to pay a hefty 8.5% more, while property in Johannesburg was less popular, with price points growing at only 2.3%. Put another way, a property that cost R1 million a year ago would have been sold at a price point of at least R1 023 000 in Johannesburg and R1 085 000 in Cape Town – stripping out any compounding of inflation or other factors. Denese Zaslansky, CEO of the FIRZT Realty group, explained, 'at the current average home price of around R1.6m, for example, the gross monthly income required to qualify for a home loan is around R54 200, which is R3 600 less than it was at this time last year because of the rate cuts. 'But if prices continue to rise even at an average of around 5% a year… buyers who delay now will not only have to contend with a bigger monthly bond repayment but will also need to earn about R2 700 more a month to qualify for their home loan. They will thus lose most of the advantage of the recent rate decreases,' said Zaslansky. Berry Everitt, CEO of the Chas Everitt International property group, told IOL that, while these increases are positive for those who are selling their homes at this stage, they are 'also steadily creating a shortage of homes that are affordable for first-time buyers and investors, despite the recent interest rate cuts'. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ The South African Reserve Bank started incrementally cutting interest rates last September in 25 percentage point increments to its current level of 10.75% at the prime rate. Zaslansky noted that 'demand has strengthened with every rate decrease since September last year, stock is drying up rapidly in popular areas and we have seen a 38% increase in sales and an average 6% price increase in our markets in the past six months'. Everitt adds that 'we worry that there are many young people who are earning well but still in danger now of being priced out of the formal market, and thus also out of their future opportunities to build equity in real estate and upgrade as their employment and financial prospects improve'. Advising anyone who can afford to buy or invest at current prices to do so without delay, Everitt says they otherwise 'risk finding themselves left out in the cold'. Zaslansky concurred: 'This means that there is no time to waste for prospective buyers and investors.' IOL
Time of India
12-05-2025
- Business
- Time of India
With Israel ties on the table, UAE offers Saudis an example
US President Donald Trump's Gulf tour this week will take him to Saudi Arabia, which he would like to see recognise Israel, and the neighbouring UAE which has benefitted from Israeli ties but also paid a price. #Operation Sindoor The damage done at Pak bases as India strikes to avenge Pahalgam Why Pakistan pleaded to end hostilities Kashmir's Pahalgam sparks Karachi's nightmare During his first term, Trump oversaw a series of normalisation deals between close ally Israel and several Arab countries, stunning public opinion in the Arab world and breaking with the long-held convention that a just resolution to the plight of Palestinians must precede relations with Israel. Nearly five years since the UAE joined the US-brokered Abraham Accords , along with Gulf neighbour Bahrain and North African kingdom Morocco, these relations have endured despite outrage in the region over the devastating Israel-Hamas war in Gaza. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo "If the Gaza war did not put an end to that, nothing will," said Emirati analyst Abdulkhaleq Abdulla. While recognising Israel brought economic and strategic windfalls for the UAE, its standing in the Middle East took a hit, experts said. Live Events And although the UAE and Saudi Arabia are both oil-rich Gulf states, reputational risks at home and across the Arab and Muslim worlds weigh heavier on Riyadh as Trump seeks to persuade it to take the epochal step of normalising ties with Israel. - Trade boost - The Abraham Accords of 2020 gave the UAE "significant political capital in Washington", said Karim Bitar, a lecturer in Middle Eastern studies at Paris's Sciences Po university. But since the Gaza war began in October 2023, "what the UAE won in terms of leverage in the United States... it lost in the Arab world" where ties with Israel have become "extraordinarily unpopular", Bitar added. Trade has grown consistently, rising 43 percent last year to $3.24 billion, said Israel's consul general in Dubai, Liron Zaslansky, noting that the figure excludes software and services. Nearly 600 Israeli companies have set up in the UAE, while around one million Israeli tourists visited the country in 2024, Zaslansky told AFP. The number of Emirati tourists in Israel is "much lower," according to Zaslansky, "especially since October 7", when Hamas's 2023 attack started the war. Cooperation in technology and intelligence sharing have helped the UAE counter the influence of regional rivals like Iran -- Israel's sworn enemy -- or Islamist movements that are deemed a threat. The biggest win for the UAE was the special attention and support of the United States, Israel's staunch ally. The UAE was made a major US defence partner last year, even though the sale of cutting-edge weaponry announced in the wake of the Abraham Accords, including 50 F-35 stealth fighters, has never been finalised. Today, the Emiratis are "more interested in AI and technology" said Abdulla, topics that are expected to be central to Trump's stop in Abu Dhabi. - 'Think twice' - Riyadh is keenly aware that recognising Israel has affected the UAE's reputation in the Arab world, where many remain hostile to normalisation. A public opinion poll published by US think tank the Arab Center Washington DC in January 2024, about three months into the Gaza war, suggested that a majority of Saudis opposed recognising Israel. In a similar survey in 2022, only 38 percent expressed an objection. The UAE, accused of "treason" by the Palestinians at the time, claimed that in return for normalisation it had obtained an Israeli pledge to freeze plans to annex the occupied West Bank. However Israel's actions during the Gaza war have demonstrated the UAE's limited influence over its new ally. Abu Dhabi says normalisation has helped it get aid into Gaza throughout the war, and according to Abdulla, nearly all Emiraties "trust the government" to promote national interests even as the vast majority of Arabs, including in the UAE, "hate what Israel is doing in Gaza". Before the war, Saudi Arabia had engaged in preliminary discussions with Washington about establishing ties with Israel in exchange for a security agreement and support for a civilian nuclear programme. But the kingdom has since clarified its position, saying it would not agree to normalisation without a Palestinian state. Sanam Vakil of the Chatham House think tank said the Abraham Accords are "a case study for Saudi Arabia", showing benefits in trade, investment and US ties but "limitations" on the Palestinian issue and people-to-people links. Unlike Saudi Arabia, the vast majority of people in the UAE are foreigners, minimising the risk of destabilisation through popular discontent. Saudi Arabia's status as the custodian of Islam's holiest sites also raises the stakes and "makes normalisation far more politically sensitive," said Bitar. "I think Saudi Arabia will probably think twice before following the path of the UAE."
France 24
12-05-2025
- Business
- France 24
With Israel ties on the table, UAE offers Saudis an example
During his first term, Trump oversaw a series of normalisation deals between close ally Israel and several Arab countries, stunning public opinion in the Arab world and breaking with the long-held convention that a just resolution to the plight of Palestinians must precede relations with Israel. Nearly five years since the UAE joined the US-brokered Abraham Accords, along with Gulf neighbour Bahrain and North African kingdom Morocco, these relations have endured despite outrage in the region over the devastating Israel-Hamas war in Gaza. "If the Gaza war did not put an end to that, nothing will," said Emirati analyst Abdulkhaleq Abdulla. While recognising Israel brought economic and strategic windfalls for the UAE, its standing in the Middle East took a hit, experts said. And although the UAE and Saudi Arabia are both oil-rich Gulf states, reputational risks at home and across the Arab and Muslim worlds weigh heavier on Riyadh as Trump seeks to persuade it to take the epochal step of normalising ties with Israel. Trade boost The Abraham Accords of 2020 gave the UAE "significant political capital in Washington", said Karim Bitar, a lecturer in Middle Eastern studies at Paris's Sciences Po university. But since the Gaza war began in October 2023, "what the UAE won in terms of leverage in the United States... it lost in the Arab world" where ties with Israel have become "extraordinarily unpopular", Bitar added. Trade has grown consistently, rising 43 percent last year to $3.24 billion, said Israel's consul general in Dubai, Liron Zaslansky, noting that the figure excludes software and services. Nearly 600 Israeli companies have set up in the UAE, while around one million Israeli tourists visited the country in 2024, Zaslansky told AFP. The number of Emirati tourists in Israel is "much lower," according to Zaslansky, "especially since October 7", when Hamas's 2023 attack started the war. Cooperation in technology and intelligence sharing have helped the UAE counter the influence of regional rivals like Iran -- Israel's sworn enemy -- or Islamist movements that are deemed a threat. The biggest win for the UAE was the special attention and support of the United States, Israel's staunch ally. The UAE was made a major US defence partner last year, even though the sale of cutting-edge weaponry announced in the wake of the Abraham Accords, including 50 F-35 stealth fighters, has never been finalised. Today, the Emiratis are "more interested in AI and technology" said Abdulla, topics that are expected to be central to Trump's stop in Abu Dhabi. 'Think twice' Riyadh is keenly aware that recognising Israel has affected the UAE's reputation in the Arab world, where many remain hostile to normalisation. A public opinion poll published by US think tank the Arab Center Washington DC in January 2024, about three months into the Gaza war, suggested that a majority of Saudis opposed recognising Israel. In a similar survey in 2022, only 38 percent expressed an objection. The UAE, accused of "treason" by the Palestinians at the time, claimed that in return for normalisation it had obtained an Israeli pledge to freeze plans to annex the occupied West Bank. However Israel's actions during the Gaza war have demonstrated the UAE's limited influence over its new ally. Abu Dhabi says normalisation has helped it get aid into Gaza throughout the war, and according to Abdulla, nearly all Emiraties "trust the government" to promote national interests even as the vast majority of Arabs, including in the UAE, "hate what Israel is doing in Gaza". Before the war, Saudi Arabia had engaged in preliminary discussions with Washington about establishing ties with Israel in exchange for a security agreement and support for a civilian nuclear programme. But the kingdom has since clarified its position, saying it would not agree to normalisation without a Palestinian state. Sanam Vakil of the Chatham House think tank said the Abraham Accords are "a case study for Saudi Arabia", showing benefits in trade, investment and US ties but "limitations" on the Palestinian issue and people-to-people links. Unlike Saudi Arabia, the vast majority of people in the UAE are foreigners, minimising the risk of destabilisation through popular discontent. Saudi Arabia's status as the custodian of Islam's holiest sites also raises the stakes and "makes normalisation far more politically sensitive," said Bitar. "I think Saudi Arabia will probably think twice before following the path of the UAE." © 2025 AFP
Int'l Business Times
12-05-2025
- Business
- Int'l Business Times
With Israel Ties On The Table, UAE Offers Saudis An Example
US President Donald Trump's Gulf tour this week will take him to Saudi Arabia, which he would like see recognise Israel, and the neighbouring UAE which has benefitted from Israeli ties but also paid a price. During his first term, Trump oversaw a series of normalisation deals between close ally Israel and several Arab countries, stunning public opinion in the Arab world and breaking with the long-held convention that a just resolution to the plight of Palestinians must precede relations with Israel. Nearly five years since the UAE joined the US-brokered Abraham Accords, along with Gulf neighbour Bahrain and North African kingdom Morocco, these relations have endured despite outrage in the region over the devastating Israel-Hamas war in Gaza. "If the Gaza war did not put an end to that, nothing will," said Emirati analyst Abdulkhaleq Abdulla. While recognising Israel brought economic and strategic windfalls for the UAE, its standing in the Middle East took a hit, experts said. And although the UAE and Saudi Arabia are both oil-rich Gulf states, reputational risks at home and across the Arab and Muslim worlds weigh heavier on Riyadh as Trump seeks to persuade it to take the epochal step of normalising ties with Israel. The Abraham Accords of 2020 gave the UAE "significant political capital in Washington", said Karim Bitar, a lecturer in Middle Eastern studies at Paris's Sciences Po university. But since the Gaza war began in October 2023, "what the UAE won in terms of leverage in the United States... it lost in the Arab world" where ties with Israel have become "extraordinarily unpopular", Bitar added. Trade has grown consistently, rising 43 percent last year to $3.24 billion, said Israel's consul general in Dubai, Liron Zaslansky, noting that the figure excludes software and services. Nearly 600 Israeli companies have set up in the UAE, while around one million Israeli tourists visited the country in 2024, Zaslansky told AFP. The number of Emirati tourists in Israel is "much lower," according to Zaslansky, "especially since October 7", when Hamas's 2023 attack started the war. Cooperation in technology and intelligence sharing have helped the UAE counter the influence of regional rivals like Iran -- Israel's sworn enemy -- or Islamist movements that are deemed a threat. The biggest win for the UAE was the special attention and support of the United States, Israel's staunch ally. The UAE was made a major US defence partner last year, even though the sale of cutting-edge weaponry announced in the wake of the Abraham Accords, including 50 F-35 stealth fighters, has never been finalised. Today, the Emiratis are "more interested in AI and technology" said Abdulla, topics that are expected to be central to Trump's stop in Abu Dhabi. Riyadh is keenly aware that recognising Israel has affected the UAE's reputation in the Arab world, where many remain hostile to normalisation. A public opinion poll published by US think tank the Arab Center Washington DC in January 2024, about three months into the Gaza war, suggested that a majority of Saudis opposed recognising Israel. In a similar survey in 2022, only 38 percent expressed an objection. The UAE, accused of "treason" by the Palestinians at the time, claimed that in return for normalisation it had obtained an Israeli pledge to freeze plans to annex the occupied West Bank. However Israel's actions during the Gaza war have demonstrated the UAE's limited influence over its new ally. Abu Dhabi says normalisation has helped it get aid into Gaza throughout the war, and according to Abdulla, nearly all Emiraties "trust the government" to promote national interests even as the vast majority of Arabs, including in the UAE, "hate what Israel is doing in Gaza". Before the war, Saudi Arabia had engaged in preliminary discussions with Washington about establishing ties with Israel in exchange for a security agreement and support for a civilian nuclear programme. But the kingdom has since clarified its position, saying it would not agree to normalisation without a Palestinian state. Sanam Vakil of the Chatham House think tank said the Abraham Accords are "a case study for Saudi Arabia", showing benefits in trade, investment and US ties but "limitations" on the Palestinian issue and people-to-people links. Unlike Saudi Arabia, the vast majority of people in the UAE are foreigners, minimising the risk of destabilisation through popular discontent. Saudi Arabia's status as the custodian of Islam's holiest sites also raises the stakes and "makes normalisation far more politically sensitive," said Bitar. "I think Saudi Arabia will probably think twice before following the path of the UAE." The Israel pavilion at Dubai Expo 2020. Trade between Israel and the UAE has grown consistently AFP Riyadh is aware that recognising Israel has affected the UAE's reputation in the Arab world AFP
Yahoo
12-05-2025
- Business
- Yahoo
With Israel ties on the table, UAE offers Saudis an example
US President Donald Trump's Gulf tour this week will take him to Saudi Arabia, which he would like see recognise Israel, and the neighbouring UAE which has benefitted from Israeli ties but also paid a price. During his first term, Trump oversaw a series of normalisation deals between close ally Israel and several Arab countries, stunning public opinion in the Arab world and breaking with the long-held convention that a just resolution to the plight of Palestinians must precede relations with Israel. Nearly five years since the UAE joined the US-brokered Abraham Accords, along with Gulf neighbour Bahrain and North African kingdom Morocco, these relations have endured despite outrage in the region over the devastating Israel-Hamas war in Gaza. "If the Gaza war did not put an end to that, nothing will," said Emirati analyst Abdulkhaleq Abdulla. While recognising Israel brought economic and strategic windfalls for the UAE, its standing in the Middle East took a hit, experts said. And although the UAE and Saudi Arabia are both oil-rich Gulf states, reputational risks at home and across the Arab and Muslim worlds weigh heavier on Riyadh as Trump seeks to persuade it to take the epochal step of normalising ties with Israel. - Trade boost - The Abraham Accords of 2020 gave the UAE "significant political capital in Washington", said Karim Bitar, a lecturer in Middle Eastern studies at Paris's Sciences Po university. But since the Gaza war began in October 2023, "what the UAE won in terms of leverage in the United States... it lost in the Arab world" where ties with Israel have become "extraordinarily unpopular", Bitar added. Trade has grown consistently, rising 43 percent last year to $3.24 billion, said Israel's consul general in Dubai, Liron Zaslansky, noting that the figure excludes software and services. Nearly 600 Israeli companies have set up in the UAE, while around one million Israeli tourists visited the country in 2024, Zaslansky told AFP. The number of Emirati tourists in Israel is "much lower," according to Zaslansky, "especially since October 7", when Hamas's 2023 attack started the war. Cooperation in technology and intelligence sharing have helped the UAE counter the influence of regional rivals like Iran -- Israel's sworn enemy -- or Islamist movements that are deemed a threat. The biggest win for the UAE was the special attention and support of the United States, Israel's staunch ally. The UAE was made a major US defence partner last year, even though the sale of cutting-edge weaponry announced in the wake of the Abraham Accords, including 50 F-35 stealth fighters, has never been finalised. Today, the Emiratis are "more interested in AI and technology" said Abdulla, topics that are expected to be central to Trump's stop in Abu Dhabi. - 'Think twice' - Riyadh is keenly aware that recognising Israel has affected the UAE's reputation in the Arab world, where many remain hostile to normalisation. A public opinion poll published by US think tank the Arab Center Washington DC in January 2024, about three months into the Gaza war, suggested that a majority of Saudis opposed recognising Israel. In a similar survey in 2022, only 38 percent expressed an objection. The UAE, accused of "treason" by the Palestinians at the time, claimed that in return for normalisation it had obtained an Israeli pledge to freeze plans to annex the occupied West Bank. However Israel's actions during the Gaza war have demonstrated the UAE's limited influence over its new ally. Abu Dhabi says normalisation has helped it get aid into Gaza throughout the war, and according to Abdulla, nearly all Emiraties "trust the government" to promote national interests even as the vast majority of Arabs, including in the UAE, "hate what Israel is doing in Gaza". Before the war, Saudi Arabia had engaged in preliminary discussions with Washington about establishing ties with Israel in exchange for a security agreement and support for a civilian nuclear programme. But the kingdom has since clarified its position, saying it would not agree to normalisation without a Palestinian state. Sanam Vakil of the Chatham House think tank said the Abraham Accords are "a case study for Saudi Arabia", showing benefits in trade, investment and US ties but "limitations" on the Palestinian issue and people-to-people links. Unlike Saudi Arabia, the vast majority of people in the UAE are foreigners, minimising the risk of destabilisation through popular discontent. Saudi Arabia's status as the custodian of Islam's holiest sites also raises the stakes and "makes normalisation far more politically sensitive," said Bitar. "I think Saudi Arabia will probably think twice before following the path of the UAE." saa/th/ami
