May 31

The week has gone fast, but still not. Every day it happens something new, we receive two new villas and two new apartments for sale, new reports of Malaya in Marbella, economic reports in the world, and other news. I have written little about it, here are this week’s blog:

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The new properties for sale are:
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Happy reading!

 

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May 27

palm-island-dubai

The Property market in Dubai leads the current financial crisis league. Nowhere has real estate values plummeted as steep as in the previously booming Persian Gulf coast. House prices dived in Dubai by 32 percent during the last twelve months. The properties prices on the artificial island of Palm Jumeirah (Dubai Palm Island) outside Dubai is now down to its lowest level in three years. It costs only 2.450 dollar/square meter to buy a house among the luxury villas, hotels and shops on the palm-shaped island.

It is 60 percent less than for only six months ago and the lowest square meter prices in three years. Meanwhile, rents in the area has lost a third in the spring since March. Previous twelve-month period was a red-hot market, where the prices rose by 48 percent. This means that Dubai in a year has gone from being the world’s fastest growing real estate market to the world’s second worst. Only depressed Latvia house prices fell more.

Latvia’s house market fell by 36 percent.
Singapore was the third worst real estate market. Prices fell by 24 percent.          

Shortly thereafter came the U.S. and the UK with house price falls of around 18 percent.

The much smaller list of markets with rising property prices, top the report with Israel, which increased by 11 percent during the period. Deuce and three in the list is the Czech Republic and tax paradise Jersey in the English Channel.

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