Dubai real estate boom as wealthy buyers escape lockdown

Dubai real estate boom as wealthy buyers escape lockdown


Dubai’s real estate market has been weakened from six years of fatigue as “blockade evaders” and wealthy international investors are breaking records and driving buying enthusiasts to help the economy recover.

Luxury villas are the most popular segment of the market, with European buyers in particular looking for Dubai’s signature Palm Jumeirah artificial island homes and golf course real estate.

Zhann Zochinke, chief operating officer of consultancy’s property monitor, said Dubai’s roller coaster real estate market, which had been steadily declining since 2014, was hit by COVID-19 last year and the emirate closed its borders. It has leveled off.

“Then, shortly after that blockage period, the transaction volume began to increase, but since then it hasn’t really stopped,” he said.

“Now we see record increases and trading volumes from the previous month.”

The Gulf Emirate became one of the first destinations reopened to visitors in July last year, with the energy that produced the Open Door Policy and strict rules on masking and social distance, and some of the highest vaccination rates in the world. Vaccination program combined.

Despite a surge in coronavirus cases in the New Year after a mass of vacationers, life continued almost normally with restaurants and hotels open, ruining life elsewhere. There are few restrictions.

“Lockdown Dodgers from other countries? I think there’s a lot to be seen there,” Zochinke said, and other draws allow more relaxed residence rules and full foreign ownership of businesses. He added that it was a decision.

“Not just construction sites”

According to IHS Markit, the flood of arrivals has revived the tourism industry, is the economic center of Dubai, has little oil wealth to power neighboring countries, and in April business activity reached pre-COVID-19 levels Helped to recover.

Research agency economist David Owen said, “Travel agencies and tourism companies are seeing the most significant recovery in performance amid rising expectations that tourism will become more active later this year, boosted by the rapid deployment of vaccines. I recorded it. “

According to property monitors, after years of turmoil in which homeowners were monitoring stock outflows, a surge in luxury real estate in excess of 10 million dirhams ($ 2.7 million) was noticeable, with 90 cases in April. There was a deal. ..

Dubai’s luxurious villa pool. | AFP-JIJI

Palm’s mansion sold for 111.25 million dirhams. It has reached its highest price in a few years in a district featuring 16 “leaves” lined with stunning homes and supercars parked on a driveway.

The most expensive property currently available in this block is a vast Italian-style modern villa located on one edge of a leaf, with a 180 degree beach frontage and offered for 100 million dirhams.

After declining in the market during the gloomy days in the midst of a pandemic, developers said one of the new types of monetized Europeans went to the infinity pool, private cinema, acres of marble and glass. I hope to be tempted.

Matthew Bate, CEO of one of the agencies, BlackBrick, said: Represents a property.

“COVID-19 opened the door”

“People are now looking at Dubai and saying — I’m going to make this my main home. I can manage my business in Europe, North America and Asia while working in Dubai,” he said. Said.

“So what COVID did in the end, I think it opened the door to us in other parts of the world.”

In a market where many fortunes are created and lost, there are concerns about whether the recent rapid rise can be sustained.

According to the Property Monitor, real estate sales of more than 10 million dirhams in April increased by 6.7% compared to the previous month, with villas sold on Palm totaling 54 in 2020 overall, compared to 81 in April alone. was.

Despite the remarkable rise, the market is still out of 2014 highs and the apartment market is far behind.

However, financial services firm Morgan Stanley said in a recent report that the rally is unlikely to stop soon.

“Strong demand, peaked supply growth, and long lead times for new projects could push the market tighter than expected in the coming years,” he said.

It acknowledged “the wave of government reform over the last 12 months, attractive mortgage rates, and changes in demand patterns due to COVID-19.”

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Healthy Home Buyers: What to Look for in House Hunting …

Healthy Home Buyers: What to Look for in House Hunting …


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Moving can be painful, but finding a safe and healthy home to call it a home can be even more difficult. Finding the best home is more important than the number of bedrooms and the size of the kitchen.the same as Toxins in personal care products, Toxins can hide in the house. To make sure it’s a safe option for your family, there are questions to ask before buying or building a new home.

How to find the best home

Let’s clarify something first … There is no such thing as a perfect house. There are many factors to consider when moving.There are neighborhoods and school districts (otherwise) Home study), Square feet and so on. You can’t find the perfect home, but you can focus on what’s most important to us.

Personally, it’s important to me to have as many health-free homes as possible. This includes toxins such as mold, lead, formaldehyde, and (most) EMF exposure. Read on to see what to look out for, why to avoid it, and workarounds to fix it if necessary.

EMF wave

This is a big deal to unpack, as there are so many sources of radiation exposure in the modern world. You might be surprised to hear that I wouldn’t avoid this altogether. That said EMF exposure It can cause problems such as insomnia, anxiety, and childhood leukemia. The most common causes of harmful EMF waves are:

  • High voltage power line
  • Street power line
  • Home WiFi device
  • Mobile phone tower, especially 5G

Large power lines emit radiation that can reach approximately 656-984 feet, or just under a quarter of a mile. The radiation range of street power lines is about 82 feet. Street power lines are often less risky, but homes closer to transformers are more risky.

You can use the meter in this way Or This meter Test EMF waves in different rooms of the house. The best way is to turn off all electronics and lighting during the test. Some EMF waves can come from appliances and light bulbs that can interfere with meter readings.

Practical solution to avoid EMF

As technology becomes more widespread, it becomes increasingly difficult to avoid external EMF waves. And unless we live entirely off-the-grid, we will get some closer to the power lines. However, when it comes to buying a home, here are some practical tips for avoiding EMF. Avoid the following houses.

  • Within ¼ miles from high voltage lines
  • Near the cell phone tower or 5G antenna
  • Near street power lines, especially utility poles with transformers.

Even if that is not entirely possible, there are still ways to avoid electromagnetic field exposure at home. You can also find non-toxic, EMF blocking paint For indoor walls. These are expensive aspects, but they can be good options for those who need them. Painting the bedroom area (where you spend a third of your time) is at least a good start.

Home mold and mycotoxins

Its musty basement odor is more than unpleasant. Molds, and the mycotoxins they release, can be harmful to human health. Even without clear mold, flood damage to buildings can be hidden in walls, floors, and ceilings. Previously flooded homes that have not been properly repaired can also cause problems.

Both new and old homes may have past or present floods, but old homes are at higher risk. There are a few things to keep in mind when looking for a mold-free home.

  • Test for mold and moisture. It’s not as easy as buying a test at a local hardware store. Not all types of mold are detected in all tests.
  • Make sure the foundation is solid and free of cracks, leaks, or external moisture ingress.
  • Avoid houses in valleys and downhills. When it rains, the water moves downhill to the foundation.
  • Check the basement and crawl space for signs of flooding or moisture.
  • Check for roof leaks and gutter damage. These cause rainwater to collect on the foundation rather than being taken away from the house.

There is a lot of false information about The health effects of mold. Many home inspectors are not informed of how to properly test it. And many repair companies do not take the best precautions when removing it.Here are some solids Mold repair guidelines And Mold test guidelines If you are in such a situation.

Bad neighbor

Mold in the house is bad enough, but we also need to pay attention to who (and what) surrounds the property. Is your house near a large factory or windmill farm? Is there a smelly CAFO or landfill nearby? Is it due to polluted waters or from an old toxic waste disposal site?

The outflow of chemicals from traditional farmlands and golf courses is another serious problem. They infiltrate groundwater and move to the surrounding soil. In certain areas, many pesticide sprays are floating in the air for three seasons of the year. One way to find out is to enter the property’s address in an online map and zoom out to see what’s there.

There are a lot of toxins out there and we can’t avoid them all. If your dream home is a little too close and not comfortable to land a lot of chemicals, there is a solution.

  • Be sure to choose a non-downhill property from areas that use a lot of pesticides.
  • Advise your neighbors to accept dandelions and not spray them on the plants.it’s good Bees and butterflies Too!
  • If you are concerned about the soil in the garden, Vertical garden bed And / or a container instead of planting directly in the soil.

Now that we’ve covered our neighbors, let’s take a closer look inside the house. Lead, asbestos, and formaldehyde are some of the most common household toxins. These toxins are found in paints, flooring, wallpaper, furniture and cabinets, to name a few.

asbestos

Asbestos is no longer used in home construction, but it is still present in some older homes. This should be something that a good house inspector should be able to find. Common sources of household asbestos are:

  • Insulation for pipes and furnaces
  • Wall insulation
  • Drywall
  • paint
  • Siding
  • Flooring
  • Popcorn ceilings installed in the 1950s and 1970s
  • Vermiculite attic insulation

It is important to repair asbestos before moving in. Many sellers solve problems before they bring their homes to market. At a minimum, it must be legally disclosed to the purchaser.

lead

Everyone knows that lead is bad, but what does it really do in the body? The CDC outlines the risks of lead exposure. This heavy metal can:

  • Damages the brain and nervous system
  • amnesia
  • Slow growth and development
  • Contribute to learning and behavioral disorders
  • Affects hearing
  • Cause speech problems

The good news is that even mainstream sources are participating in reducing lead exposure.

According to the CDC Lead is most often found in homes built before 1978. The sources of lead to note are:

  • Old metal water pipe
  • Stained glass work
  • Old paint, especially if it is chipped or peeled off
  • Residential near the airport: Air gas pollutes air and soil with lead
  • Drinking water
  • Outside soil (this is important if you make a garden)

But lead isn’t just for old homes. New building materials, such as flooring and recycled building materials, may contain lead. Here’s how to avoid lead in your home:

  • Repair and repaint anything with old paint
  • Check pipes for sources of exposure to lead and other toxins
  • Test and use water Water filter
  • Check the lead level in the soil before gardening. Container garden It is a good option for people with poor soil.
  • Avoid the use of recycled building materials such as pallets and old barn wood.
  • Choice Lead-free flooring options

Formaldehyde

Formaldehyde is hidden in many building materials and furniture. This chemical can cause respiratory problems in asthmatics and those who are sensitive to it. Even one billionth (ppb) can react to formaldehyde, especially in people with a weakened immune system.

LEED’s safe building code limits formaldehyde exposure levels to 17 ppb (parts perbillion). Still, the average living room carpet emits 400-600 ppb. It also does not contain the chemicals released by the adhesive that holds the carpet down.

Some products may not technically contain formaldehyde, but they are formaldehyde emitters. Some brands sell wood glue, floor glue, and other construction materials as non-toxic. However, when it dries, thousands of ppb are released into the atmosphere.

Green Design Center This is my recourse for options to avoid or repair formaldehyde and outgassing.

Volatile organic compounds (VOC)

Many “green” building materials are low VOC or VOC free. This may sound like a safer option, but it’s not always the case. Simply peel the orange and the essential oils in the skin will release VOCs into the air.

Environmentally friendly products may be environmentally safe, but they are not always safe for humans.by Green building expert Andrew Pace, VOCs are:

A carbon-based molecule that easily vaporizes at room temperature and can evaporate from the surface, move to the upper atmosphere and react with nitrogen and UV to produce smog. That is the exact definition of EPA for it. Nowhere in that definition says anything about human health.

Look for toxins that are known to be harmful to humans, not just VOCs.

There are some toxins to watch out for in building materials:

  • Phthalic ester Endocrine disruptors are suspected and reproductive toxins are found in many different substances. You will find them in carpet linings, wall coverings, and furniture fabrics. See this post for more information.
  • Chemical Flame Retardant (PBDE) Mainly found in insulation and cushions, Even most mattresses. The largest sources of exposure include contaminated house dust. In animal studies, PBDE has been associated with liver, thyroid, developmental, reproductive, and neurotoxicity.
  • Reused old building materials.. Old barn trees and pallet trees may look attractive, but they are not always the best option. Some chemicals may be out of gas by the time they reach them. It is impossible to know what toxins they have been exposed to over time. Mold, asbestos and lead contaminate many old building materials.

Healthy flooring options

Toddlers, especially babies, are at increased risk of flooring toxins. Babies approach the floor, crawl on the floor, put things in their mouths, and have a more sensitive respiratory system. When it comes to domestic toxins, all of this can cause major problems.

  • Tiles are generally a safe option, but the glaze on them may contain lead. A simple solution is to get a lead swab test and test the tiles before investing in the value of the entire floor. Cork flooring, Natural linoleum, hardwood and bamboo are other safe hardwood floor options.
  • Formaldehyde-free flooring may not contain certain types of formaldehyde, but it may contain other types of formaldehyde. Underfloor plywood may contain formaldehyde, which releases gas for decades. If you can’t get rid of the toxic plywood flooring, Non-toxic sealant Useful for outgassing.
  • Safer carpet options include wool, which has no effect on people with wool allergies. You can also find non-toxic synthetic carpets.I like hardwood but I use this natural Carpet cleaner On the carpet we had.

There are many things to consider when buying the best home for your family, but it doesn’t have to be overwhelming! These healthy home buying tips will help you navigate the process.

What is most important to you when buying or building a new home? Please leave a comment and let us know!

Source:

  1. Agency for Toxic Substances and Disease Registration. (November 23, 2016). Asbestos exposure and reduction of exposure.. CDC.
  2. Green building. (2021). sorrow..
  3. CDC. (April 7, 2020). Pediatric lead poisoning prevention: a source of lead. CDC.
  4. CDC. (January 7, 2020). Health effects of lead exposure. CDC.
  5. Century 21. (February 23, 2018). Can I sell my house with asbestos?
  6. Mold help for you. (Nd) Mold test



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$ 69 Million Digital Art Entrepreneur Buyers Shine …

$ 69 Million Digital Art Entrepreneur Buyers Shine …


At first glance, blockchain entrepreneurs who paid a record $ 69.3 million for digital artwork don’t look like wealthy collectors.

A 32-year-old kid, wearing a T-shirt and chinos, lives in a regular Singapore apartment and does not own real estate or a car. Most of his investment goes to the virtual world.

“My prize will be my computer, and probably my watch,” says Indian-born Vignesh Sundaresan, also known by his pseudonym MetaKovan, from a sparsely decorated flat.

His unpretentious attitude does not provide a clue that he is the millions of investors funding a fund focused on “non-fungible tokens” (NFTs). NFT uses blockchain technology to turn everything from art to internet memes into virtual collector’s items.

Last month, programmers bought the world’s most expensive NFT (US artist Beeple’s “Everydays: The First 5,000 Days”), highlighting how virtual work is being established as a new creative genre.

With NFTs, many find the opportunity to monetize all kinds of digital art and give collectors the right to brag about their ultimate ownership, even if they can copy their work endlessly.

Sundaresan defended the price paid for a collage of 5,000 works of art created in succession. This made its creator, Mike Winkelmann, the third most valuable living artist.

“I thought this work was very important,” he said.

“It’s great for the work itself, but this signal and symbolic intent is also to show that there is everything in the world … underground.”

NFTs are slowly growing in popularity, but have become a hot topic with the sale of Beeple’s latest release.

Sundaresan’s Metapurse Foundation purchased another set of 20 Beeple works in December and sold ownership of part of the collection as “tokens.” Initially priced at $ 0.36 per token, it is now worth about $ 5.

But he said buying the “first 5,000 days” was emotionally exhausting. Christie’s auctioneer sales lasted for two weeks, starting at just $ 100 million, and 22 million people logged on to see the last dramatic moment.

“I didn’t really think it was this competitive,” he said. “Even if I spend so much money, it’s pretty difficult.”

He plans to display his digital art in a virtual gallery and hire an architect to design it.

“As an avatar, you can go there and go to another floor to see this art,” he said.

Sandaresan said he felt a personal connection to the “first 5,000 days” as his own story reflected Beeple’s story. Both men started out as relative amateurs in their field, but succeeded after years of hard work.

Beeple started his “first 5,000 days” in 2007, when he was a boring web designer, creating works of art every day.

“He’s grown up every day. He’s been working 13 years to reach this point,” Sundaresan said.

“I felt this soul connection with him.”

As an engineering student, Sundaresan said he couldn’t even afford a laptop.

He tried to build various web services that failed, but took a break by establishing a cryptocurrency company in 2013.

He is currently the CEO of an IT consulting firm and is funding the NFT investment fund Metapurse.

As some critics have suggested, he denies that the recent purchase was a stunt to add value to other NFTs and claims to be trying to help the artist.

However, not everyone believes that the NFT boom will provide a lot of support.

Antonio Fatas, a professor of economics at INSEAD Business School, said:

“But I don’t know how this helps for the average artist trying to make himself known.”

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