Pakistanis among top 10 buyers as Dubai property sales skyrocket

[HAIDER]

Pakistanis among top 10 buyers as Dubai property sales skyrocket​

Reuters Published July 30, 2022 - Updated about 14 hours ago




17

A general view of residential properties at the Balqis Residence on Palm Jumeirah in Dubai, United Arab Emirates on March 25, 2022. — Reuters/File
1x1.2x1.5x
DUBAI: Dubai’s red-hot property market surged in the first half of the year as investors piled in, with Russians among the top five buyers as the emirate benefits from an influx of wealth in the wake of Western sanctions.
The first half saw residential real estate transaction volumes up 60 per cent with an 85pc rise in the value of properties sold, property consultancy Betterhomes said in a report.
The top buyers were from India, the United Kingdom, Italy, Russia and France, in that order, followed by Canada, the United Arab Emirates, Pakistan and Egypt tied in eighth place, Lebanon and China.
The number of Russian buyers surged 164ppc in the first half of this year from the first half of 2021, Betterhomes said in response to a query. The numbers for France and Britain rose 42pc and 18pc, respectively, while those from India fell 8pc and Italy dropped 17pc.

Market surges 60pc as investors flock in; India, UK, Italy, Russia, France top five buyers

Demand was boosted by geopolitical instability in Europe and mortgage buyers looking to get in ahead of well-telegraphed interest rate hikes, Betterhomes said.
It was reported earlier this year that Russians were pouring money into Dubai properties, seeking a financial haven in the wake of Western sanctions on Moscow over its invasion of Ukraine.
“The market has faced growing headwinds in the form of rising interest rates and a strengthening dollar but has so far proven to be robust with little sign of slowing,” Betterhomes said.
In the first half of the year, a record 37,762 units were sold, it said, citing Dubai Land Department data, with residential property market transactions totalling nearly 89 billion dirhams ($24.23bn).
Dubai’s property market began recovering from 2020’s severe downturn early last year with buyers snapping up luxury units after the emirate eased pandemic restrictions faster than most cities around the world.
However, S&P Global Ratings said in October that Dubai’s real estate recovery was fragile and uneven, and an oversupply of residential properties would pressure prices in the long run.
Luxury property transactions were up 87pc compared with the first half of last year, with apartments making up 62pc of all transactions, Betterhomes said.
Investors dominated sales, making up 68pc of all buyers, up 10pc compared with a year earlier.
Published in Dawn, July 30th, 2022

Now we know the story of 245 suitcases of dollars ...

 

[Valar.]

Waste of money to be honest. DHA is better.

 

[HAIDER]

Waste of money to be honest. DHA is better.

Now a days its little hard to smuggle dirty money to European and UK banks, now UAE is the only paradise left for them. They will lose this money eventually, easy come easy go.

 

[khansaheeb]

Pakistan gov needs to stop all outflow of money until this economic collapse is stemmed.

 

[Valar.]

Pakistan gov needs to stop all outflow of money until this economic collapse is stemmed.

Lol... they are ones who are 'outflowing' the money....

 

[Imran Khan]

Pakistan gov needs to stop all outflow of money until this economic collapse is stemmed.

Pdm guys are the one buying these propertise

 

[kingQamaR]

All their properties should be seized and assets sent back to Pakistan be accounted for

 

[Imran Khan]

All their properties should be seized and assets sent back to Pakistan be accounted for

This is good thing of swiss panama dubai they did not sent back any sh1t.lolllz

 

[HAIDER]

This is good thing of swiss panama dubai they did not sent back any sh1t.lolllz

Once it's gone out of the Pakistani border, that's it.

 

[Imran Khan]

Once it's gone out of the Pakistani border, that's it.

Yes sir forget to be back

 

[Darth Vader]

Pakistan gov needs to stop all outflow of money until this economic collapse is stemmed.

yeah, the problem is that most of this is being purchased by these same people in GOV.

These guys can print as much money they want in Pakistan, but that has no value outside of Pakistan so what they do, They make sending money to Pakistan harder, and more expensive for EXPATS, and they force people to use Hundi and other illegal means of transferring funds to Pakistan, the routes which these families control no they get COLD CASH in Euros, Dollars ETC and the distributed illegally gained money in Pakistan, straightforward but very effective.

 

[Solidify]

I am thinking of relocating from Canada to back to UAE due to C^O^L^D^ Weather

 

[Darth Vader]

Yes sir forget to be back

Those Emergency landings by Indian airlines Karachi some time back took over $6 Billion out of Pakistan & moved that to Korea

 

[RescueRanger]

Pakistanis among top 10 buyers as Dubai property sales skyrocket​

Reuters Published July 30, 2022 - Updated about 14 hours ago




17

A general view of residential properties at the Balqis Residence on Palm Jumeirah in Dubai, United Arab Emirates on March 25, 2022. — Reuters/File
1x1.2x1.5x
DUBAI: Dubai’s red-hot property market surged in the first half of the year as investors piled in, with Russians among the top five buyers as the emirate benefits from an influx of wealth in the wake of Western sanctions.
The first half saw residential real estate transaction volumes up 60 per cent with an 85pc rise in the value of properties sold, property consultancy Betterhomes said in a report.
The top buyers were from India, the United Kingdom, Italy, Russia and France, in that order, followed by Canada, the United Arab Emirates, Pakistan and Egypt tied in eighth place, Lebanon and China.
The number of Russian buyers surged 164ppc in the first half of this year from the first half of 2021, Betterhomes said in response to a query. The numbers for France and Britain rose 42pc and 18pc, respectively, while those from India fell 8pc and Italy dropped 17pc.

Demand was boosted by geopolitical instability in Europe and mortgage buyers looking to get in ahead of well-telegraphed interest rate hikes, Betterhomes said.
It was reported earlier this year that Russians were pouring money into Dubai properties, seeking a financial haven in the wake of Western sanctions on Moscow over its invasion of Ukraine.
“The market has faced growing headwinds in the form of rising interest rates and a strengthening dollar but has so far proven to be robust with little sign of slowing,” Betterhomes said.
In the first half of the year, a record 37,762 units were sold, it said, citing Dubai Land Department data, with residential property market transactions totalling nearly 89 billion dirhams ($24.23bn).
Dubai’s property market began recovering from 2020’s severe downturn early last year with buyers snapping up luxury units after the emirate eased pandemic restrictions faster than most cities around the world.
However, S&P Global Ratings said in October that Dubai’s real estate recovery was fragile and uneven, and an oversupply of residential properties would pressure prices in the long run.
Luxury property transactions were up 87pc compared with the first half of last year, with apartments making up 62pc of all transactions, Betterhomes said.
Investors dominated sales, making up 68pc of all buyers, up 10pc compared with a year earlier.
Published in Dawn, July 30th, 2022

Now we know the story of 245 suitcases of dollars ...

The real WATAN WAPSI for some:

 

[Imran Khan]

Those Emergency landings by Indian airlines Karachi some time back took over $6 Billion out of Pakistan & moved that to Korea

AP SHAYED inko nhi janty .unko india ki kya zarorat ? Jahazoon ki kami hai kya yahan ?

The real WATAN WAPSI for some:

View attachment 866489

After money go dubai then qatar then panama then swiss then buy shears then sale shear buy company then sale company buy RE in uk .its became impossible to track money