Despite the ongoing war, real estate prices in Israel, particularly in Tel Aviv, have remained strong. The Ben-Shalom family, who have been building apartments in Tel Aviv for three generations, currently have 30 new projects in the works. Home buyers, like Sarah Geist, view purchasing real estate in Tel Aviv as an act of Jewish pride and a safe haven from growing antisemitism. Real estate lawyer Andy Schwartz confirms that the Israeli market has proven stable and resilient. Tel Aviv offers the benefit of buyers purchasing private land and getting full rights. Ben-Shalom Development & Construction focuses on building projects in prime locations in Tel Aviv, including central avenues and suburban neighborhoods. Buyers receive personalized attention and support throughout the buying process. The Tel Aviv real estate market shows no signs of slowing down [9cc01db3].
Abu Dhabi's property market is experiencing solid growth due to increased demand, according to a report by leading property portal Bayut. The report reveals that property prices in upscale neighborhoods with high-end amenities have been on an upward trend, with sales prices for luxury apartments and villas rising by up to 13% in 2023. Saadiyat Island has seen significant price increases. The report also highlights that residential property sales transactions in Abu Dhabi in 2023 were valued at over AED 52 billion. In terms of return on investment (ROI), Al Reef and Al Reem Island offer attractive rental yields for apartments, while Hydra Village and Al Raha Gardens offer high ROI for villas. Advertised rental prices for luxury apartments have increased by up to 14%, while affordable apartment rentals have remained competitive. The CEO of Bayut, Haider Ali Khan, commented on the record-breaking year for the UAE real estate market in 2023 and the continued interest in UAE real estate as a prime market for investment [d22be04b].
The Dubai property market is also undergoing a transformation, according to estate agents. The market has seen an increase in property purchases from both overseas and resident expat buyers, with a rise in sales influenced by the recent shift in the property market. The total property sales value in Dubai reached Dh411.7 billion ($112 billion) last year, a 55% increase compared to the previous year. The rise in sales is driven by high-net-worth individuals seeking a luxurious lifestyle and family-friendly communities. Government initiatives such as long-term residency and the UAE Golden Visa may also contribute to the increase. Many foreign residents are choosing to buy their homes instead of renting due to rising rental costs. Off-plan properties are offering attractive investment opportunities and the potential for capital appreciation. The market is seen as safe and secure, and advantages such as the UAE Golden Visa make buying property in Dubai more appealing. It is advised to properly research the desired area and work with a trusted agent to eliminate stress from the buying process [fd33f0c4].
Dubai Land Department has partnered with nine leading developers to increase Emiratis' participation in the real estate market. In the initial phase, between 10% and 15% of units will be allocated to be sold by Emirati brokers. The Dubai Real Estate Programme aims to enhance the competitiveness of Emirati professionals and support their roles in the real estate sector. Dubai's property market rebounded strongly in 2023, with a record 17% annual jump in real estate transactions. The next phase of the programme will establish partnerships with additional developers and real estate brokers to qualify more Emiratis to work in the property sector [4801d9ec].
While home buying for most of the US has decreased in the month of March, there still seems to be an interest among wealthier Americans for luxury home purchases. Knight Frank Global Head of Research Liam Bailey explains that despite rising interest rates, luxury markets have seen prices for residential property rise over the past six to nine months due to limited inventory. The report also reveals that 22% of wealthy individuals plan to invest in residential property this year, and 19% in commercial property. The luxury real estate market has become more globalized, with US buyers impacting demand and pricing in markets such as London, Lisbon, Spain, and Italy. The office market has split into two, with a high demand for best-in-class offices and a lack of quality stock available. The weaker sector of the office market is struggling. Wealth creation is back, with more wealthy individuals globally due to the performance of equity markets and cryptocurrencies [72c124f7].
Real De Talpa is a community in the heart of Jalisco, Mexico, founded by entrepreneur and reggae recording artist Kassiano Smith. It contains 89 eco-friendly home sites, organic community gardens and orchards, solar power, and other sustainable living essentials. The homes are solid brick and mortar and steel, built to be hurricane and earthquake-proof. The first three phases consist of 89 large lots and three upscale home designs. Demand for these homes is growing among people under retirement age and expatriates. Real De Talpa is currently 70 percent sold out in its existing phases and plans to introduce sophisticated housing options in phases four and five, including timeshares, fractional ownership, a condo-hotel, and a spa or regenerative clinic. The clinic will specialize in emotional healing and various holistic treatments. Real estate investors are being invited into the project. Phases one through three are 70 percent sold, with just 29 lots left. Phases four and five will begin construction soon. The project's upcoming phases will bring opportunities for international companies to hold retreats and team building [d9274c62].