Category: Abu Dhabi

Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today?

Manhattan Market: What Does a $2.5M Condo Really Cost Foreign Buyers Today? Rise in local currency cost to a foreign buyer for $2.5M NY property, from 2014 to 2016 based solely on currency value fluctuation

Much has been written about Chinese and Russians dropping $30+ million on Manhattan luxury condominiums since 2012. As a result, even sellers of condos priced between $1-4 million ask: “Where are the foreign buyers for my home? What will you do to attract them?”

While huge amounts of foreign currency is being spent on US real estate, not every property type is benefiting from it or is appealing to an international buyer. Generally, foreign buyers who Read more…

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International Development – Abu Dhabi builds Manhattan-sized Island

Abu Dhabi is creating a real estate, tourist and cultural footprint the size of Manhattan on Saadiyat Island. While some of Europe and the Western world are still in a balancing act between retraction and growth, Abu Dhabi is expanding. As the nation approaches its 50th anniversary since it began shipping oil in 1962, the Emirate State is forging ahead with development on Saadiyat Island.

To develop the island, about the size of Manhattan below 72nd Street, the Emirate’s developers have hired such architectural luminaries as Lord Norman Foster, Jean Nouvel, Zaha Hadid, Frank Gehry and golf course designers Gary Player and Robert Trent Jones, Jr to create a culturally rich new art, commerce and tourist destination in the Gulf. I found the video documentary below interesting and worth sharing.

Master planners and designers brought together to build what will be a city in its own right…on the shores of the Persian Gulf. West meets East. Abu Dhabi’s intentions seem different than its more oppulent neighbor Dubai. Will the results be? Only time will tell. One thing is for sure…vision creates change.

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Quick Market Update – NYC Luxury Real Estate

Posted on March 15, 2018

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