Dubai and Moscow, the new real estate centers - The demand for luxury homes in these cities has significantly increased prices
Dubai and Moscow have emerged as new hubs for luxury housing markets, with prices rising sharply recently. In Dubai, new luxury homes priced from $60 million to $100 million each have been built to attract more wealthy people. In Moscow, high-profile homes are now in much higher demand as wealthier Russians have begun to repatriate money to their home country.
Dubai is launching a new series of luxury mansions with everything from movie theaters to spas, as real estate developers begin a new round of deals with millionaires from around the world, according to Bloomberg data. The luxury homes range in price from $60 million to $120 million or more, with interest focused on buyers from Europe, Asia and the Americas.
Construction costs are prohibitively high, with companies building such properties willing to bring in the most luxurious materials from the other side of the world and implement technologies such as movable pool floors that change level for parties or events.
Property prices in Dubai had soared to record highs during the pandemic in 2021. But that hasn’t stopped developers from building new imperial properties in the city’s most expensive beachfront locations, the international news agency reported. Meanwhile in Moscow, local tycoons are now starting to bring their money back to the city. Bloomberg reports that many wealthy Russians now have fewer options to use their capital abroad, as new international sanctions are forcing many banks to become stricter about moving such funds.
The influx of cash is helping Moscow’s real estate market stand out from other capitals like London and Hong Kong. Sales of luxury apartments priced at nearly $20,000 per square meter and above rose by almost 40 percent last year. The surge in demand has pushed house prices in the Russian capital up 21 percent over the same period, putting them on par with Paris and London.
Poll
What does the new business lending program contain? - From low interest rates to their coverage with state guarantees
Despite the fact that agriculture employs about 1/3 of the country's workforce and generates about 20% of national output, businesses in this sector do not......
EU "studying" measures against Trump - What is the bloc planning in response to potential tariffs?
The European Union is studying ways to respond to potential tariffs from the Trump administration. The 27 countries want to find some form of agreement with......
What benefits does the postponement of the strategic investor law bring? - Investments are expected to exceed 2.7 billion euros. About 24 thousand jobs will be created.
The Assembly has approved the extension of the deadline for obtaining the status of "Strategic investor, special assisted procedure" until December 31,......
Sovereign guarantee and lending program for SMEs - Bank of Albania and government join forces to support agriculture
In order to increase lending to the agricultural sector, the Bank of Albania and the government will offer two financing instruments for small and......
“Global chip sales to grow by 13%” - Increased demand for “AI” outweighed the difficulties the market faced in 2023
Rising demand for artificial intelligence and a robust automotive market will help drive a rebound in global chip sales this year, according to annual data......
Rama: New financing line between the BoA and the government's sovereign guarantee!
Prime Minister Edi Rama: " The Bank of Albania's 250 million euro program for small and medium-sized enterprises will greatly help increase lending. For......
Traffic under surveillance with new monitoring system - Expert: Real-time information, more free movement
A new guideline has been published in the Official Gazette for real-time traffic information in the country. After this decision enters into force, the ARA......
Denaj: Sovereign guarantee for SMEs in agriculture
A roundtable discussion on the topic "Agricultural Sector Lending: Identifying pathways and creating instruments for qualitative progress in lending to the......
