Saudi Arabia’s real estate transactions surge 38 percent in H1, plus more news

For PropertyGuru’s real estate news roundup, Saudi Arabia witnessed a 38 percent rise in real estate transactions during the first half of the year, according to Knight Frank. In other updates, Australian real estate investment trusts (REITs) are back on the radar for share market investors. Lastly, appointing a Housing and Development Board (HDB) lawyer to act for you regarding the purchase or mortgage of your Singapore home means you have to pay HDB legal fees on top of registration and other ‘hidden’ fees.

Saudi Arabia’s real estate transactions surge 38 percent in H1, reaching USD34 billion: Knight Frank

Saudi Arabia witnessed a 38 percent rise in real estate transactions during the first half of the year, reaching 106,700 deals with a total value of around SAR127.3 billion (USD33.9 billion), according to Knight Frank in Arab News.

A report by the London-based global real estate consultancy firm said that residential transactions comprised 61 percent of all property deals by total value and saw a 41 percent increase, reaching just under 91,860 sales.

Concurrently, the value of these residential transactions surged by 48 percent, totalling SAR77.6 billion over the same period.

REITs recovering from high rates, Australia’s office market fears

Australian real estate investment trusts (REITs) are back on the radar for sharemarket investors as the prospect of interest rate cuts firms, commercial deal-making activity picks up and housing developers prepare for the next upswing, according to realcommercial.com.au.

Despite a patchy reporting season in which some key players turned in disappointing results, the sector is now poised to benefit as local investors see the direct market stabilising. Global players expect positive international trends to play out in this market.

More traditional segments, including offices, are showing signs of recovery, and retail property continues to hold up despite sluggish consumer spending. Investors are also chasing exposures to alternative properties, with areas ranging from self-storage, manufactured housing, and childcare property to pubs in focus.

They are now expecting the Australian real estate investment trust sector to follow parts of the US sector, where office companies have recovered, partly as staff return to work.

HDB lawyer fees and other ‘hidden’ payments you need to know when buying a resale flat in Singapore (2024)

Housing and Development Board (HDB) lawyer fees, conveyancing fees, stamp duty, and fees for registration and microfilming for transfer of ownership are part of the costs when you buy a resale flat. If you appoint HDB to act for you regarding the purchase or mortgage of your new home, you have to pay HDB legal fees on top of registration fees. And that’s not the only fee you’ll have to pay when you purchase an HDB resale flat!

When you buy an HDB resale flat, there are more fees to pay than just the agreed selling price. This PropertyGuru Singapore guide will walk you through the entire HDB resale flat process and delve into the HDB legal fees for HDB resale flats, the down payment amount for resale HDB flats, and other HDB flat resale fees and processes you may not know about.

The Property Report editors wrote this article. For more information, email: [email protected].