Latest news with #residentialmarket
South China Morning Post
28-05-2025
- Business
- South China Morning Post
Hong Kong's April lived-in home prices eke out 0.35% gain as stamp duty cut spurred deals
Hong Kong's lived-in home prices rose for the first time in five months in April, as transactions were spurred by a cut in the government's stamp duty for homes worth up to HK$4 million (US$510,000). Advertisement An index measuring home prices eked out a 0.35 per cent gain to 285.7 last month, from 284.7 in March, according to the Rating and Valuation Department on Wednesday. Transactions in the residential market jumped last month. Previously, buyers of homes worth up to HK$3 million were subject to a relaxed HK$100 stamp duty. This was extended to homes worth up to HK$4 million following the budget announcement in February. Homes worth up to HK$4 million accounted for a quarter of residential sales in 2024, according to CBRE. The cut in the stamp duty was likely to increase the share of this segment to 30 per cent of residential transactions, the property consultancy said. More to follow ... Advertisement
Zawya
27-05-2025
- Business
- Zawya
Abu Dhabi residential market shows resilience amid supply constraints, reports Savills
Savills latest Abu Dhabi Residential Market in Minutes – Q1 2025 reveals that while transaction volumes have moderated, the market continues to show resilience, supported by sustained demand, limited new supply, and the emirate's growing international appeal. Abu Dhabi recorded a 3.8% GDP increase in 2024, with the UAE's economy forecast to grow by 4.7% in 2025, according to Oxford Economics. The emirate was also named the world's safest city for the ninth consecutive year, reinforcing its position as a destination of choice for individuals and businesses alike. Continued investment in cultural, educational, and lifestyle infrastructure, including the Saadiyat Cultural District and the announcement of Harrow International School's first GCC site, is further contributing to the city's appeal as a place to live and invest. In Q1 2025, just under 1,500 residential units were transacted within Abu Dhabi Municipality, reflecting a 39% year-on-year decline and the lowest quarterly figure since Q2 2022. Only 10 new projects entered the market during the period, delivering fewer than 3,000 units, impacting transaction levels. This limited pipeline has resulted in a competitive landscape across the leasing, secondary sales, and off-plan segments, with waiting lists for good quality buildings re-emerging and off-plan units increasingly trading at a premium. Average sales rates across the market rose from AED 14,100 per sqm in Q1 2024 to AED 16,200 per sqm in Q1 2025, representing a 13.4% year-on-year increase. The share of ready property transactions grew to 68%, compared to 44% in 2024 and 25% in 2023, indicating stronger demand for move-in ready stock. In the villa segment, capital values increased by 7% on Al Reef, 10% on Yas Island, and 26% on Saadiyat Island, highlighting continued demand for prime, lifestyle-led developments. For apartments, Saadiyat Island saw the highest year-on-year growth at 22%, while values across Al Raha, Reem Island, and Yas Island remained steady. Overall, apartment transactions accounted for 63% of activity in Q1 2025, with completed units making up the majority. Ali Ishaq, Head of Residential Agency, Abu Dhabi at Savills Middle East, commented: 'Demand is clearly present, particularly within well-connected and master-planned communities. The shortage of new launches has channelled activity towards the ready market, and we are seeing this reflected in both transaction share and rising capital values.' According to the report, interest in the Abu Dhabi residential market continues to be supported by broader shifts in sentiment among expatriate families, driven by recent visa reforms and the development of the education sector. The announcement of a Disney theme park on Yas Island and the entry of international developers into the market are also expected to enhance future demand. Savills anticipates continued activity in the ready market over the coming months, with demand likely to remain strong for high-quality residential product, particularly within established communities. Read the complete findings of the reports here: Abu Dhabi Residential Market Q1 2025 Report About Savills Middle East: Savills plc is a global real estate services provider listed on the London Stock Exchange. With a presence in the Middle East for over 40 years, Savills offers an extensive range of specialist advisory, management and transactional services across the United Arab Emirates, Oman, Bahrain, Egypt, and Saudi Arabia. Expertise includes property management, residential and commercial agency services, property and business assets valuation, and investment and development advisory. Originally founded in the UK in 1855, Savills has an international network of over 700 offices and associates employing over 40,000 people across the Americas, UK, Europe, Asia Pacific, Africa, and the Middle East. For further information, please contact: Savills press office:
The National
17-05-2025
- Business
- The National
Land saturation pushes property development towards Dubai's peripheral areas
Land saturation and limited affordability in Dubai's core residential locations have pushed property development towards peripheral areas, a report by property consultancy Savills has found. Prominent micro-markets located along the Al Khail Road corridor, including Jumeirah Village Circle (JVC), Dubailand, Damac Hills 2, The Valley and Damac Lagoons, accounted for 55 per cent of total transaction volumes and 56 per cent of all newly launched residential units, Savills said in its first quarter report for the Dubai residential market. 'The limited availability of land in the city's core residential areas, such as Business Bay, Downtown Dubai and Dubai Marina, has driven development towards peripheral areas,' according to Savills' research. 'These areas are witnessing increasing buyer interest, offering comparatively attractive price points and a mix of product offerings.' Approximately 8,000 units were added to the city's residential stock during the quarter and about 32,000 residential units are slated to be delivered in the remainder of 2025, the consultancy estimated. Savills anticipates a 'healthy stream of completions' through to 2028 as the balance between supply and demand evolves. Sustained demand from a growing population and heightened investor interest are driving property sales in Dubai. The property market has also been benefiting from government initiatives, such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the UAE's economy on diversification efforts. By the end of March, Dubai's population had risen to 3.92 million, with 89,695 new residents added in just the first three months of the year, an average of approximately 1,000 people per day. The net population increase for 2024 was 170,478 people, averaging less than 500 per day, real estate consultancy ValuStrat said in a report earlier this month. The Savills report found that Dubai recorded a 23 per cent annual increase in transaction volumes during the first quarter of the year. Apartments dominated market activity, accounting for 76 per cent of all transactions, while villa and townhouse transactions rose from 18 per cent in the previous quarter to 24 per cent in the first quarter of 2025. Off-plan sales represented 69 per cent of all deals in the first quarter, the data showed. The ready market, comprising transactions in completed and handed-over projects, accounted for 13,000 transactions from January to the end of March. Within the ready market, apartment sales accounted for 81 per cent of transactions in this period, reflecting the 'continued preference for apartments in the market amid availability and affordability pressures', the Savills report explained. 'The residential market witnessed robust supply, with more than 30,000 units launched during the quarter, most of which were apartments. This figure is more than double the volume recorded in the same period last year, as developers capitalised on strong market demand,' said Rachael Kennerley, director of research at Savills. Apartments accounted for 79 per cent of new launches. Villa and townhouse units accounted for approximately 21 per cent of all new supply during the period. 'Developers have increasingly introduced smaller unit sizes in this segment, aiming to strike a balance between meeting end-user demand and addressing growing affordability constraints in the market,' the report said. Transactions valued at Dh5 million ($1.36 million) and above accounted for 8 per cent of total activity in the first quarter. Regardless of affordability pressures, driven by elevated loan-to-value thresholds, inflation, higher living costs and rising capital values, demand in the higher price segments remains consistent, the consultancy said. Dubai's prime residential market continues to perform well, underpinned by Dubai's sustained appeal for high-net-worth individuals, according to Savills. More than 1,300 units were transacted at values exceeding the Dh10 million mark in the first quarter, marking a 31 per cent year-on-year increase. Contrary to the wider market, villas dominated prime transactions with 73 per cent of market share, the research found. 'Demand across the prime residential segment in Dubai has not simply sustained but strengthened. Amid tariff wars, geopolitical uncertainties and unpredictable tax environments, the world's wealthy increasingly recognise Dubai's appeal, and developers are rising to the occasion,' Andrew Cummings, head of residential agency at Savills, said. 'Villas in coveted locations, space and privacy are the preferred choice, but supply remains restricted for the time being.' Looking ahead, the outlook for Dubai's residential sector remains "optimistic", the consultancy projected. Amid global macroeconomic and political uncertainties, the emirate's political stability, competitive regulatory landscape and business-friendly ecosystem are expected to support ongoing population and investment inflows, it said. However, the development pipeline is significant and requires a balanced approach to supply and demand, Savills warned.
Trade Arabia
13-05-2025
- Business
- Trade Arabia
Dubai's residential market transactions see 23% rise in Q1
Dubai's residential market started the year on a strong note, amid sustained demand by a growing population and heightened investor interest. According to the Savills Q1 2025 Dubai Residential Market in Minutes report, the first quarter of the year recorded a robust 23% y-o-y increase in transaction volumes. Rachael Kennerley, Director – Research, says: 'In Q1 2025, off-plan sales continued as the cornerstone of transaction activity, representing 69% of all deals. The residential market witnessed robust supply, with more than 30,000 units launched during the quarter, most of which were apartments. This figure is more than double the volume recorded in the same period last year, as developers capitalised on strong market demand.' The ready market — comprising transactions in completed and handed-over projects – made up the remaining 31% of transactions. Apartment sales accounted for the majority of transactions at 81% in this segment, reflecting its dominance in Dubai's housing stock. Looking at the market overall, apartments dominated sales activity, accounting for 76% of all transactions. However, the villa and townhouse segment witnessed a notable resurgence, with transactions rising from 18% in the previous quarter to 24% in Q1 2025. Prominent micro-markets located along the Al Khail corridor, including Jumeirah Village Circle (JVC), Dubailand, Damac Hills 2, The Valley, and Damac Lagoons, accounted for 55% of total transaction volumes and 56% of all newly launched residential units - land saturation and limited affordability in the city's core residential locations have pushed development toward peripheral areas. Dubai's prime residential market continues to perform well, underpinned by Dubai's sustained appeal for HNWIs. Demand was driven by the strong quality of life proposition, a low tax environment, easy business set up costs and the strength of the Golden Visa programme. Over 1,300 units were transacted at values exceeding the AED 10 million mark in Q1 2025 — marking a 31% y-o-y increase. Contrary to the wider market, villas dominated prime transactions with 73% of market share, recording a 52% y-o-y rise and a 4% q-o-q uptick. According to Andrew Cummings, Head of Residential Agency: 'Demand across the prime residential segment in Dubai has not simply sustained but strengthened. Amid tariff wars, geopolitical uncertainties and unpredictable tax environments, the world's wealthy increasingly recognise Dubai's appeal, and developers are rising to the occasion. Villas in coveted locations, space and privacy are the preferred choice but supply remains restricted for the time being.'
Zawya
13-05-2025
- Business
- Zawya
Dubai's residential market transactions see 23% rise in Q1
Dubai's residential market started the year on a strong note, amid sustained demand by a growing population and heightened investor interest. According to the Savills Q1 2025 Dubai Residential Market in Minutes report, the first quarter of the year recorded a robust 23% y-o-y increase in transaction volumes. Rachael Kennerley, Director – Research, says: 'In Q1 2025, off-plan sales continued as the cornerstone of transaction activity, representing 69% of all deals. The residential market witnessed robust supply, with more than 30,000 units launched during the quarter, most of which were apartments. This figure is more than double the volume recorded in the same period last year, as developers capitalised on strong market demand.' The ready market — comprising transactions in completed and handed-over projects – made up the remaining 31% of transactions. Apartment sales accounted for the majority of transactions at 81% in this segment, reflecting its dominance in Dubai's housing stock. Looking at the market overall, apartments dominated sales activity, accounting for 76% of all transactions. However, the villa and townhouse segment witnessed a notable resurgence, with transactions rising from 18% in the previous quarter to 24% in Q1 2025. Prominent micro-markets located along the Al Khail corridor, including Jumeirah Village Circle (JVC), Dubailand, Damac Hills 2, The Valley, and Damac Lagoons, accounted for 55% of total transaction volumes and 56% of all newly launched residential units - land saturation and limited affordability in the city's core residential locations have pushed development toward peripheral areas. Dubai's prime residential market continues to perform well, underpinned by Dubai's sustained appeal for HNWIs. Demand was driven by the strong quality of life proposition, a low tax environment, easy business set up costs and the strength of the Golden Visa programme. Over 1,300 units were transacted at values exceeding the AED 10 million mark in Q1 2025 — marking a 31% y-o-y increase. Contrary to the wider market, villas dominated prime transactions with 73% of market share, recording a 52% y-o-y rise and a 4% q-o-q uptick. According to Andrew Cummings, Head of Residential Agency: 'Demand across the prime residential segment in Dubai has not simply sustained but strengthened. Amid tariff wars, geopolitical uncertainties and unpredictable tax environments, the world's wealthy increasingly recognise Dubai's appeal, and developers are rising to the occasion. Villas in coveted locations, space and privacy are the preferred choice but supply remains restricted for the time being.' Looking ahead, the outlook for Dubai's residential sector remains optimistic. Savills anticipates that amid global macroeconomic and political uncertainties, the emirate's political stability, competitive regulatory landscape, and business friendly ecosystem are expected to support ongoing population and investment inflows. The development pipeline is however significant and necessitates a balanced approach to supply and demand. – TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
