Latest news with #LauraAdams
Arabian Business
7 days ago
- Business
- Arabian Business
Dubai property market hits record $40.2bn in Q2 2025 residential sales
Dubai's real estate market continues to break records, with Q2 2025 marking the highest-ever second quarter for residential property sales by both volume and value, according to a new market report from Provident Estate. The city recorded 49,606 residential transactions, up 22 per cent from Q2 2024 and a massive 82 per cent increase compared to Q2 2023, reaffirming Dubai's global status as a prime investment destination. Total residential sales hit AED 147.6bn ($40.2bn) — a sharp rise from AED 103.9bn ($28.3bn) in Q2 2024 and AED 70.2bn ($19.1bn) in Q2 2023. Dubai real estate growth Laura Adams, Secondary Sales Director at Provident Estate, said: 'These numbers are more than just market growth, they represent a shift in how the world views Dubai real estate. 'Buyers are not just investing in properties; they're investing in a lifestyle, in security, in the future of one of the fastest-growing cities globally.' The report attributes this growth to continued demand for both off-plan developments and high-quality secondary market homes, driven by Dubai's business-friendly policies, world-class infrastructure, and tax-efficient environment. Adams added: 'We're not just reporting data, we're shaping strategy. This insight empowers investors, developers, and homeowners to make smarter decisions in one of the most competitive markets globally.' Q2 Dubai property market highlights
Arab News
7 days ago
- Business
- Arab News
Dubai real estate booms with 50k homes sold in Q2
JEDDAH: Dubai's residential property market posted a 22 percent year-on-year rise in sales during the second quarter of 2025, reaching 49,606 transactions, driven by strong demand from both domestic and international investors, particularly in the off-plan and resale segments. According to a new report by Provident Estate, the figures also mark an 82 percent jump from Q2 2023, underscoring the emirate's growing appeal as a global real estate hub. The second-quarter uptick builds on a robust start to the year. In Q1, Dubai saw over 42,000 residential deals worth 114.15 billion dirhams, with an average sale price of 2.7 million dirhams. Off-plan properties continued to dominate, while the ready-home segment also showed strong performance, the report noted. The momentum reflects broader regional trends across the Gulf Cooperation Council, where economic diversification, pro-investment reforms — such as relaxed foreign ownership rules and long-term residency options — are reshaping real estate dynamics. Similar demand growth is being observed in Saudi Arabia, Qatar, Oman, Bahrain, and Kuwait. 'These numbers are more than just market growth; they represent a shift in how the world views Dubai real estate. Buyers are not just investing in properties; they're investing in a lifestyle, in security, in the future of one of the fastest-growing cities globally,' said Laura Adams, secondary sales director at Provident Estate. Dubai's total property transaction value climbed to 147.6 billion dirhams in Q2 2025, up from 103.9 billion dirhams a year earlier and 70.2 billion dirhams in Q2 2023. The average sale price rose to 2.97 million dirhams, while the price per square foot increased to 1,823 dirhams — further signaling buyer confidence in the emirate's long-term real estate prospects. Provident Estate attributed the market's performance to sustained interest in both new developments and completed properties, supported by Dubai's investor-friendly climate, advanced infrastructure, and tax-efficient environment. The firm noted that Dubai continues to be a preferred destination for investors seeking global exposure and lasting value. Compiled from proprietary data and in-depth analysis, Provident's quarterly report aims to provide a comprehensive snapshot of current market trends. 'We are not just reporting data — we are shaping strategy. This insight empowers investors, developers, and homeowners to make smarter decisions in one of the most competitive markets globally,' Adams added. With favorable regulations, lifestyle-driven demand, and continued economic transformation under UAE Vision 2031, the report forecasts sustained growth in Dubai's property market through the remainder of 2025.
Zawya
7 days ago
- Business
- Zawya
Dubai's Residential Real Estate Market surges in Q2 2025: Transaction volumes and average prices see notable growth
Dubai, UAE – Dubai's property market is showing no signs of slowing down. The city has posted its highest-ever second quarter in terms of residential sales volume and value, reaffirming its global standing as a prime real estate destination. According to the latest market report released by Provident Estate, Q2 2025 witnessed 49,606 residential sales transactions, up by 22% from Q2 2024 and a striking 82% surge compared to Q2 2023. This explosive growth reflects a sustained appetite from both local buyers and global investors looking to secure assets in one of the world's most dynamic property markets. Total sales reached a staggering AED 147.6 billion, climbing from AED 103.9 billion in Q2 2024 and AED 70.2 billion in Q2 2023. The average sale price also saw an impressive rise to AED 2.97 million, while the price per sq ft increased to AED 1,823, signaling strong confidence in the city's long-term real estate value. 'These numbers are more than just market growth, they represent a shift in how the world views Dubai real estate,' said Laura Adams, Secondary Sales Director at Provident Estate and the author of the report. 'Buyers are not just investing in properties; they're investing in a lifestyle, in security, in the future of one of the fastest-growing cities globally.' Key Highlights from the Q2 2025 Report: The surge is being driven by continued demand for both off-plan developments and high-quality secondary market homes, fueled by Dubai's business-friendly environment, world-class infrastructure, and tax-efficient living. This quarterly report, curated and analyzed by Laura Adams, leverages proprietary sales data and market intelligence from Provident Estate, offering a trusted lens into real-time property trends across the emirate. 'We're not just reporting data, we're shaping strategy. This insight empowers investors, developers, and homeowners to make smarter decisions in one of the most competitive markets globally,' Laura Adams adds. Provident Estate offers full-spectrum property services across residential, commercial, and off-plan sales. With a reputation for integrity, transparency, and expertise, Provident continues to set the benchmark for excellence in Dubai real estate. Discover what these numbers mean for your next investment. About Provident Estate: Pursuing excellence since 2008. Provident Estate is a one-stop shop for all things real estate. With a resolution to always offer 5-star service to their clients, Provident Estate are here for property requirements and queries. At the crux of the business, Provident Estate work relentlessly to provide hassle-free tailored real estate advice and consultancy for investors and families alike who are looking to find the perfect home. Provident Estate takes pride in the diverse portfolio of not just services but also the team members behind the company. With over 22 different nationalities speaking 25+ different languages, all are ready to answer property-related questions. Provident are available to help with buying and leasing as well as property management all the way through to looking for the correct financing options or even finding a perfect holiday home. The company pride themselves in being transparent, honest and professional to deliver the best results to clients.
Yahoo
02-07-2025
- Business
- Yahoo
‘It Wasn't Paradise': The Surprising Downsides of Living in a Beach House
When Brenda Christensen sold her software company, she decided to reward herself with the ultimate dream property: a house on the beach. 'It was a goal I'd cherished for years,' she says. She paid $420,000 for a three-bedroom, three-bath house a short stroll from the Pacific Ocean on Oxnard Shores in Ventura, CA. The contemporary 2,839-square-foot home came with a three-floor deck from which she could gaze at rosy-hued sunsets over sparkling waves. 'It was everything I thought I wanted,' she recalls. But all too soon, her beach house dream started showing its ugly underbelly. Countless people dream of buying a house near the beach, and pay a premium for it: data shows that homes on the ocean are priced roughly 29% higher than landlocked homes in the same area. While some of this markup is due to differences in home size (beach homes tend to be larger), on a per-square-foot basis, beachfront listings are still priced on average 15% higher. Yet, although people pay dearly for the privilege of seeing and hearing those crashing waves outside their window, beachfront properties come with a surprising array of pitfalls. 'They come when the weather is beautiful and think, 'Oh, my gosh, this is the place!'' says Laura Adams, a senior analyst for Aceable Agent, a leading platform for real estate education, who also spent 20 years as a Florida real estate broker and rents a condo on Vero Beach, FL. 'They don't understand.' For Christensen, although she loved feeling the sand between her toes, she did not love it when the Santa Ana winds blew in and caused that sand to pile up to 5-foot mounds on her driveway and roads that left her more or less stranded at home. 'You'd have to hire someone to bulldoze,' she says. 'And there were only a couple of people who did it, so you'd be on a waitlist.' Salt was another silent but damaging element she hadn't considered, causing her brand-new patio set to soon get covered in rust. 'My neighbor said, 'Oh no, honey, you have to only buy plastic,'' Christensen recalls. Another annoyance piercing her peaceful retreat was the fact that many people loved Oxnard Shores as much as she did, and flocked to the area for day trips—or, like her, to buy, rent, or renovate their own slice of paradise there. At one point, she recalls, 'The construction workers next door would look down on my courtyard where I'd be in my bikini and make catcalls. It was horrible. I could never relax.' She stuck it out in her beach house for just two years before selling the place. 'It wasn't paradise,' she says. 'It was torment.' Christensen is hardly alone in her ignorance of a beach home's various drawbacks. Today's changing climate presents a whole new crop of problems. 'Recent years have seen a surge in natural disasters such as flooding and beach erosion,' says Adams. Additionally, that sand erosion means beaches are getting smaller by the year. 'Erosion can dramatically change the safety of a building, and even your view,' Adams explains. 'The government will 'renourish' the beach as much as it can, but it's a losing battle.' In fact, the news is full of horror stories of beaches where erosion was so extreme, the homes perched on these ever-shrinking pieces of land collapsed or were demolished as too dangerous to inhabit. 'Beach property owners who are attuned to these environmental shifts are scrutinizing how climate change might influence the value and ongoing costs of the homes they own or intend to purchase,' Adams says. 'The hurricanes are deadly. The native Floridian knows that it's part of life, to be prepared to pull up and evacuate. The newcomer may not realize this.' In addition to the dangers of living near the beach, the expenses could make many a budget-minded homeowner nervous, too. 'The single biggest risk to beachfront property, at least if you're on the ocean, is insurance: You'll be vulnerable to flooding, hurricanes, coastal erosion, and sea level rise, all of which are getting harder and harder to insure,' says Martin Orefice, the CEO of Rent to Own Atlanta. Many major insurers are pulling out of coastal states like Florida, Texas, and California entirely for this reason, he continues. 'Your beachfront property could be literally and financially underwater in a few years' time, your insurance premiums will be sky-high in the meantime, and you'll have a hard time reselling,' Orefice says. 'Buying a beach house sounds more idyllic than it actually is,' says Cara Ameer, a licensed real estate agent who has helped countless homebuyers in Florida and California. 'You may also need to spend substantially more to get flood insurance … as well as a wind/hurricane policy. Be prepared for several thousand dollars with premiums increasing every year. A beach house could command insurance premiums well over $50,000.' These are the exact reasons that Adams has chosen to rent a beach condo rather than buy. 'It's cheaper for me,' she says. 'If you look at HOA fees, they're very high. That's from the insurance and all the maintenance.' At some point, Adams says she can envision a future where only cash buyers and the uber-wealthy will invest in beachfront property, since the rest of the population won't be able to afford the risks and the insurance. While many might love the smell of salty sea air, the reality is that it corrodes metal, requiring constant maintenance and repainting of beachfront buildings. 'One of the more unique properties of beach homes is that they are in the 'sea spray zone,'' says Jameson Tyler Drew, president of Anubis Properties in California. 'As waves crash nearby, they release water droplets into the air. Most of this is invisible to the naked eye. The water usually evaporates on a hot day, but the salt in it does not. That means your beach house is constantly under a shower of salt so long as there are waves and sun. This spray can also find its way into your house and evaporate as well if it's not properly sealed.' One client of Drew's who owned a home in Newport Beach made the mistake of parking a classic Ferrari 250 in the garage. 'Even with the car covered in a locked garage, the sea spray found a way inside,' Drew recalls. 'The car's interior eventually became caked with a fine layer of salt, causing cracks on the leather. Salt had also managed to find its way into the frame and engine, causing serious rust damage on a six-figure car.' 'I don't think many people really understand until they own a property and they see things always needing to be replaced,' adds Ameer. 'Door handles, hardware, exterior light fixtures, and other hardware take a beating and constantly have to be replaced. The exterior materials of the home as well as the roof also need constant maintenance and may need to be changed to withstand the elements.' Despite these many issues, Adams observes that people keep snapping up beachfront properties. 'The market is very healthy,' she says. 'For true beach lovers, the downsides don't deter them.' Indeed, a home in Nantucket sold in February 2024 for $600,000 after being listed in September for $2.3 million—even though the beach house had lost 70 feet of frontage in a matter of weeks, according to the New York Post. Despite the house being in jeopardy, the new owner told the outlet: 'The home is amazing. The location is amazing. And the price mitigates the risk to a good degree.' Christensen might be one of those buyers who just can't give up on beach homes entirely. After selling her first beach house in Ventura, she moved to another beach house in the bay enclave of Point Roberts, WA, purchased for $420,000. Surely, she figured, the picturesque little town would offer her more tranquility than Ventura. And at first, all was exactly as she'd envisioned. 'Bald eagles soared overhead, and I had the occasional sighting of Orca pods making their way past my windows,' she marvels. But her idyll was cut short with the arrival of summer—when yet again more tourists descended on the tiny town like a tidal wave, straining its limited resources. 'For two months, it was crawling with people,' she laments. A year later, Christensen sold her second beach home and vowed never to buy another one. 'I said, 'I'm done with the water,'' she says. But then she met her husband, who was also a water lover and surfer. To join her parents in the state and to have a boat, she and her husband moved across the country to Florida to buy a third waterfront home in Cape Coral. They snapped up a $350,000 four-bedroom home inland on a canal. Here, Christensen thought they could have a boat in their backyard, but wouldn't have to deal with the negatives of beach life. 'People would tell me, 'Don't worry, we don't get hurricanes here,'' she says. Those people were proved wrong in 2022 when Hurricane Ian tore through the area, the deadliest hurricane to hit Florida since 1935. It destroyed Christensen's dock, sank her family's boat, and damaged the house. Christensen and her husband decided not to repair the dock or buy another boat. Dock insurance is prohibitively expensive, and Christensen figures they're due for another hurricane at any time. Moving plans are being discussed, but Christensen says it's not easy finding a place for a water lover like herself that doesn't also come with problems. 'It's a love-hate thing,' she sighs about beach living. 'I'm thinking Alabama. But I hear they have tornadoes.' Buyers in the Priciest Housing Markets Need 80% Down To Afford Monthly Costs EXCLUSIVE: Elon Musk Reclaims Ownership of Gene Wilder Home in L.A.—After Foreclosing on Actor's Nephew Over $7 Million Loan Third Time's the Charm? Man Who Bought Michael Jordan's Beleaguered Mansion Is Now Offering It on Airbnb—After Failed Timeshare and Rental Schemes
Mid East Info
02-07-2025
- Business
- Mid East Info
Dubai Real Estate Sees Massive Shift Toward Ready Villas in May–June Surge - Middle East Business News and Information
In a powerful display of market leadership and sales excellence, Provident Estate has officially secured 50% of all ready villa sales in Dubai between May 13 and June 13, 2025. With transactions ranging between AED 4.7 million and AED 6.7 million, this record-setting achievement highlights Provident's growing dominance in the city's competitive luxury real estate segment. At a time when buyer demand is shifting toward high-quality, move-in-ready homes, Provident has demonstrated a remarkable ability to match clients with the right properties—quickly, strategically, and at scale. The data is clear: out of every 2ready villas sold in Dubai during this period, 1 was sold by Provident. 'This isn't just a sales figure—it's a statement,' said Laura Adams Secondary Sales Director of Provident Estate. 'It reflects the confidence our clients place in us, the quality of our relationships with developers and homeowners, and the deep market expertise our team brings to every transaction.' With over 400 agents, Provident's approach to sales is driven by market intelligence, cutting-edge tech tools, and human insight. The firm's structure is built around delivering results fast—without compromising on service, integrity, or transparency. This milestone comes amid a surge in villa demand in Dubai, particularly among both local and international buyers seeking privacy, space, and long-term investment value. By capitalizing on this trend and leveraging its vast ready villa inventory, Provident was able to outperform hundreds of other brokerages—accounting for half the market in just 30 days. The accomplishment follows a strong first half of the year for Provident, with highlights including: Exclusive launches with top-tier developers Major bulk deals across key master communities Record-high individual agent performances New office expansions and recruitment initiatives 'What makes this achievement even more exciting is that it's just the beginning,' said Laura Adams Secondary Sales Director at Provident. 'With the momentum we've built, our team is already setting sights on exceeding this benchmark in the months to come.'
