Latest news with #foreignbuyers
Gulf Business
21-07-2025
- Business
- Gulf Business
Why GCC investors are turning to Oman for property opportunities
Image: Supplied Oman's real estate market is quietly transforming into one of the Gulf region's most promising investment opportunities. Driven by its ambitious Vision 2040 diversification strategy, Oman has positioned real estate and tourism as key pillars for economic growth, creating strong incentives for GCC investors looking for stability, affordability, and sustained returns. Current market dynamics: Stability and growth The sultanate's real estate sector contributed With the population projected to grow from The residential real estate market alone is expected to reach Who's investing and why? Investor interest from the UAE, Saudi Arabia, Europe, the US, India, and Pakistan is growing notably, drawn by Oman's lower property values, approximately three to five times lower than Dubai's, and comparable quality of infrastructure. Investors find Oman attractive due to its safe and politically stable environment, transparent market conditions, and competitive returns, with rental yields ranging between Integrated Tourism Complexes (ITCs) have become particularly appealing to foreign buyers, offering rare gateways for freehold ownership in designated zones, coupled with lifestyle amenities and potential residency visas for buyers and their families. Areas of high investor interest Muscat and Salalah currently lead the market, offering distinct advantages. Muscat provides an established urban infrastructure and critical economic importance, hosting key government institutions and major financial flows. Salalah, conversely, offers a unique natural appeal with its summer monsoon season that transforms the region into a green oasis, unparalleled within the GCC. Both cities host formally designated ITC zones, enabling foreign investors unrestricted freehold property ownership. Beyond these cities, upcoming developments in Musandam, Duqm, and various industrial hubs indicate broader regional expansion, suggesting significant future investment opportunities. Upcoming developments Several significant projects are underway, transforming Oman's coastal, mountainous and urban landscapes. AIDA by DarGlobal is situated on a picturesque plateau 130 meters above sea level, offering villas, townhouses, apartments, branded hospitality, retail spaces, and the Trump Golf Club, all set within luxurious surroundings. The Sustainable City Yiti by SDIC is pioneering sustainable development with advanced green technologies, significantly reducing maintenance costs and operational expenses, and featuring residential, educational, commercial, and recreational amenities. A new ultra-luxury beachfront project is set to launch soon on Yiti Beach, one of Muscat's most desirable shorelines. Highly anticipated by both European and GCC investors, the project will feature apartments, villas, and townhouses nestled in lush landscaped gardens, as well as cafés, restaurants, and a beachfront club. Additionally, Muscat's Luxury ITC Project in Muttrah is set to offer ultra-luxury waterfront residential units and retail spaces, strategically positioned in Muscat's historic centre. Branded residences from prestigious international names such as St. Regis, Mandarin Oriental, and La Vie by Tivoli are also emerging, attracting high-end buyers seeking prestige alongside potential capital gains. Strategic initiatives supporting growth The Omani government continues to facilitate market expansion by allocating additional land for To sustain market momentum, developers are advised to align their projects closely with investor expectations, emphasizing quality, sustainability, and unique lifestyle propositions. These strategic moves ensure both market attractiveness and long-term investment appeal. The outlook Analysis indicates robust and continued growth in Oman's property values, with notable off-plan projects demonstrating annual price increases between 15 to 18 per cent. However, the country faces a substantial housing deficit, estimated at Oman's real estate market stands at a pivotal moment, offering GCC investors a compelling mix of affordability, stability, lifestyle benefits, and sustained returns. Complemented by its diverse and breathtaking landscapes, from pristine beaches to lush mountains and verdant oases, Oman represents an increasingly attractive investment destination poised for significant regional impact. The writer is the COO of Whitewill Real Estate in Oman and Abu Dhabi.
Bloomberg
05-07-2025
- Business
- Bloomberg
Vietnam's Growth Surges as Buyers Race to Beat Trump Tariffs
Vietnam's growth accelerated in the second quarter as foreign buyers raced to avoid threatened tariffs of as much as 46% on sales to the US. Gross domestic product rose 7.96% in the April-June period from a year earlier, according to data from the National Statistics Office in Hanoi on Saturday. That's faster than the 6.85% median estimate in a Bloomberg survey of eight economists, and a revised 7.05% expansion in the first quarter.
New York Times
05-06-2025
- Business
- New York Times
Foreign Buyers Are Fleeing the South Florida Condo Market
Foreign buyers have long powered South Florida's condo market, but many are now pulling out because of high interest rates, expensive prices and, more recently, restrictive immigration policies. The Miami Association of Realtors reports that home sales to foreign buyers dropped to 10 percent of all transactions in the region from August 2023 to July 2024, the lowest level since 2015 and a stark drop from 50 percent in 2018. The study polled nearly 2,400 real estate agents in South Florida's Miami-Dade, Broward, Palm Beach and Martin counties. Foreign buyers were defined as those who were not U.S. citizens and whose primary residence was abroad, as well as U.S. visa holders for at least six months and green card holders for less than two years. Most foreign buyers in South Florida come from Latin America, with that region accounting for nearly 60 percent of buyers last year. They've been attracted not just by Florida's year-round sun, but because real estate investments in the United States were considered safe from the prying hands of their home governments. After South Florida's housing bubble burst in 2007, international buyers flooded in to take advantage of reasonable prices and low interest rates. 'During the Great Recession, foreign buyers bailed out the South Florida condo market,' said Peter Zalewski, an independent condo analyst based in Miami. Covid-19 changed the calculus. South Florida became one of the nation's hottest and priciest markets when American buyers, desperate to escape pandemic restrictions, gobbled up the supply. Meanwhile, rising interest rates and a strong dollar drove down foreign demand. Foreign Buyers Step Back Foreign buyers have long dominiated in South Florida, but the their share of the market as measured in dollars has fallen to the lowest point since 2015. Year 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Foreign buyer share 37% 29% 44% 50% 38% 32% 14% 17% 18% 10% Year Foreign buyer share 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 10% 18% 17% 14% 32% 38% 50% 44% 29% 37% Source: Miami Association of Realtors By The New York Times After the deadly 2021 collapse of the Champlain Towers South condo building in the Miami suburb of Surfside, Florida's legislature passed laws requiring condo owners to pay for costly renovations. Faced with expensive assessments, sellers flooded the market to record levels, data from Redfin shows. But this time, foreign buyers are unlikely to come to the rescue, as President Trump's immigration and tariff policies have rattled global markets. 'Not only are they still dealing with the currency issue, but add in the immigration policy and the disrespect,' Mr. Zalewski said. 'It's a real conundrum for condo sellers.'
Independent Singapore
27-05-2025
- Business
- Independent Singapore
Savills: Singapore private home prices could rise up to 7% amid strong demand and record-high new launches
Photo: Freepik (for illustration purposes only) SINGAPORE: Private home prices in Singapore could go up by as much as 7% in 2025, according to Savills Singapore. The real estate firm said strong demand and new project launches with record-high prices are the main reasons for the expected increase, Singapore Business Review reported. Private home prices went up 0.8% in the first quarter of 2025, after a bigger 2.3% increase in the last quarter of 2024. The firm noted that while sales have slowed since April due to economic uncertainties like the US tariff policies, prices have kept rising. Savills said the price resilience is holding up because of baby boomers with strong finances and the narrowing gap between HDB resale prices and private home prices. The firm expects price growth may accelerate in the coming months as new project launches with record-high prices enter the market. While overall sales fell in Q1, private home purchases by Singapore permanent residents (PRs) went up by 2.1% from the previous quarter. This was the second quarter in a row that PRs bought more private homes, making up 13.9% of all non-landed private home sales, up from 13.3% in Q4 2024. See also 141 HDB resale flats sold for at least $1 million in April Meanwhile, sales by Singapore citizens dropped by 2.6% after four straight quarters of growth. Foreign buyers pulled back the most, dropping by 17.6%, with their market share hitting a new low of just 1%, the lowest level seen since the Urban Redevelopment Authority started tracking the data. The firm said the drop in foreign demand was mainly due to the higher Additional Buyer's Stamp Duty (ABSD) introduced in the second quarter of 2023, along with wider global uncertainties. The real estate firm remains cautiously optimistic about the market, particularly in well-located and suburban areas, noting that controlled land supply and strong market fundamentals are contributing to stable and sustainable growth. While there was a slight drop in transaction volumes, Savills noted that demand remains strong, providing long-term value opportunities for homeowners and investors. /TISG Read also: More private property owners downsize to qualify for Silver Housing Bonus; enhancement expanded to private homes with seniors
CNA
25-05-2025
- Business
- CNA
Foreign interest rises as China's low-altitude economy expo signals sector expansion
China's focus on the low-altitude economy is taking flight. Industry partners tell CNA that they've seen more interest from foreign buyers this year, despite the US tariffs. Deborah Wong reports.
