Latest news with #residentialproperty
Daily Telegraph
7 days ago
- Business
- Daily Telegraph
Overblown hopes turn housing market stale
Old listings rarely garner serious attention in residential property market analysis. Despite being overlooked by buyers, and most market analysts, these stale listings have a serious impact, in terms of elevating stock levels and also in price direction. Buyers want the freshest of listings, and some even are prepared to pay buyers agents for access to that elusive must-have off market offering. Sydney has 6300 unsold listings that have been on the market for 180 plus days, according to SQM's Louis Christopher who closely monitors stock levels. The old listings number is up 30 per cent on the same time last year. At the same time there's been about a 4 per cent annual decline in new listings for the month of June with SQM calculating 12,700 new listings. All up, Sydney buyers have a selection of 34,500 listings, so about 18 per cent of stock is stale. Christopher notes rising old stock points to a mismatch between pricing and buyer appetite and capacity. Sydney is 'grappling with stale supply even as fresh listings taper off through the winter months,' Christopher advises. Christopher regularly notes that older listings generally increase during market slowdowns or downturns. It appears many Sydney vendors are wedded in their price hopes to past highs, while the cost-of-living pressures and still annoying high mortgage rates have constrained buyer enthusiasm. Unless sold or withdrawn, the high number of homes that are languishing on the market will be an overhang of stock in the market as Sydney approaches the prospect of a bumper spring selling season. The Sydney old listings tally is still well short of the record 10,000 in 2019, when total listings sat at their highest, almost 40,000, which provided buyers with a huge choice and probable stronger negotiating positions. Nationally SQM Research calculates more than 77,000 properties have sat on the market for six months or more, a 13.5 per cent jump year-on-year. Among the state capitals, only Brisbane's old listings are down year-on-year, in their case by seven per cent. It is an international occurrence, too, with calculating 24 per cent of stock in the United States was stale – the highest percentage since 2020. Unrealistic price expectations are also leading to longer selling times, and fewer sales across Sydney. Mosman, the second most sought-after suburb searched by buyers last year on sits at 60 days on market median for its luxury houses. It is selling 15 days slower than July two years ago, according to PropTrack, and with just 200 sales in the past year, sales activity is well down on the 330-plus in peak year 2021. The time to take a Bundeena sale has jumped from 57 days in July 2023 to its current 99 days on market. Wilberforce's median time on market sits at 81 days, up from 64 last July and 45 in July 2023. At 38 days, Kings Langley houses are spending 19 days longer before their sale, double two years ago.
Arab News
15-07-2025
- 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.
CNA
03-07-2025
- Business
- CNA
Singapore private property owners who sell homes within 4 years must pay seller's stamp duty
SINGAPORE: Private property owners who sell their homes within four years will incur a seller's stamp duty, the Ministry of National Development (MND) announced on Thursday (Jul 3). The seller's stamp duty (SSD) holding period will increase to four years, up from three years. The SSD rates will also increase by 4 percentage points for each tier of the holding period, the ministry changes will take effect for all residential properties purchased on and after Jul 4, 12am. The revised SSD will not affect HDB owners due to the Minimum Occupation Period for HDB flats, MND said. The SSD is payable by those who sell a residential property within a specified period after purchase. In 2017, this period was reduced from four to three years, and the SSD rates were also reduced by four percentage points for each tier of the holding period, said MND. In recent years, the number of private residential property transactions with short holding periods has increased sharply. In particular, there has been a significant increase in the sub-sale of units that have not been completed, it added. Therefore, the government will revert to the pre-2017 SSD holding period of four years, and raise the SSD rates by four percentage points for each tier of the holding period, it said.
Zawya
16-06-2025
- Business
- Zawya
Residential property prices in Oman rise by 7.3%
Muscat: Data released by the National Centre for Statistics and Information (NCSI) showed a 7.3 percent increase in the residential property price index in the Sultanate of Oman in the first quarter of 2025, compared to the same quarter of 2024. This increase was driven by a 6.5 percent rise in residential land prices by the end of the first quarter of 2025. Residential apartment prices also rose by 17 percent, followed by villas at 6.4 percent, while other home prices rose by 2.2 percent. The general index of residential real estate prices also recorded a 5.5 percent increase in the first quarter of 2025, compared to the fourth quarter of 2024. The residential land price index rose by 5.5 percent, while apartment prices rose by 4.3 percent and villa prices by 4.5 percent. Other housing prices also increased by 13.4 percent. At the governorate level, Muscat Governorate recorded the highest growth rate in residential land prices in the first quarter of 2025, at 17.4 percent, compared to the same quarter of 2024. Musandam Governorate followed with a 12.8 percent increase, followed by North Al Batinah Governorate with 7.3 percent, South Al Batinah Governorate with 6.1 percent, and Dhofar Governorate with 6 percent. Meanwhile, South Al Sharqiyah Governorate recorded a 3.4 percent increase. In contrast, Al Buraimi Governorate recorded a 35.1 percent decline in residential land prices, followed by Al Dhahirah Governorate with a 25.3 percent decline, then Al Wusta Governorate with a 20.4 percent decline, while Al Dakhiliyah Governorate witnessed a 3.7 percent decline, and North Al Sharqiyah Governorate saw a slight decline of 0.8 percent. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
14-06-2025
- Business
- Times of Oman
Residential property prices in Oman rise by 7.3%
Muscat: Data released by the National Centre for Statistics and Information (NCSI) showed a 7.3 percent increase in the residential property price index in the Sultanate of Oman in the first quarter of 2025, compared to the same quarter of 2024. This increase was driven by a 6.5 percent rise in residential land prices by the end of the first quarter of 2025. Residential apartment prices also rose by 17 percent, followed by villas at 6.4 percent, while other home prices rose by 2.2 percent. The general index of residential real estate prices also recorded a 5.5 percent increase in the first quarter of 2025, compared to the fourth quarter of 2024. The residential land price index rose by 5.5 percent, while apartment prices rose by 4.3 percent and villa prices by 4.5 percent. Other housing prices also increased by 13.4 percent. At the governorate level, Muscat Governorate recorded the highest growth rate in residential land prices in the first quarter of 2025, at 17.4 percent, compared to the same quarter of 2024. Musandam Governorate followed with a 12.8 percent increase, followed by North Al Batinah Governorate with 7.3 percent, South Al Batinah Governorate with 6.1 percent, and Dhofar Governorate with 6 percent. Meanwhile, South Al Sharqiyah Governorate recorded a 3.4 percent increase. In contrast, Al Buraimi Governorate recorded a 35.1 percent decline in residential land prices, followed by Al Dhahirah Governorate with a 25.3 percent decline, then Al Wusta Governorate with a 20.4 percent decline, while Al Dakhiliyah Governorate witnessed a 3.7 percent decline, and North Al Sharqiyah Governorate saw a slight decline of 0.8 percent.
