Abu Dhabi freeholds on sale to foreigners

A round-up of world property news

2 months ago

*Abu Dhabi’s Al Maryah Island is a designated zone for overseas property investors*

Five stories making global property headlines:

Abu Dhabi districts open for foreign freeholders

Abu Dhabi has revealed the areas where foreign investors can buy freehold property in the emirate for the first time. The National received a list of the designated investment zones from the department of urban planning and municipalities. They include Al Maryah Island, the location of Abu Dhabi’s new Hub71 technology start-up “ecosystem”.

US sees biggest fall in existing home sales since 2015

Sales of previously owned homes in the US fell by the largest amount in more than three years in March, according to data from the National Association of Realtors. The FT reported that sales dropped 4.9 per cent from the previous month, the biggest monthly fall since November 2015.

*March’s US sales fall was the biggest for three and a half years*

Karl Lagerfeld-designed apartments on the market

Fans of the late fashion designer Karl Lagerfeld can buy apartments he designed in an industrial city in central Taiwan. Bloomberg reported that the complex in Taichung City is due for completion in 2022, in collaboration with developer Jut Group. Prices range from $1.1m to almost $6m, for a 8,900 sq ft penthouse.

*The Lagerfeld-designed apartment complex is due for completion in 2022*

Dublin’s commuter belt drives rise in new homes

Property completions in Ireland rose 22 per cent in the first quarter of this year, compared with the same period in 2018, according to a report by Goodbody stockbrokers. The Irish Times reported that 4,255 residential properties were completed in the first three months of the year and 57 per cent of those were in Dublin’s commuting counties.

*The coastal town of Wicklow, 40km south of Dublin*

Paul Simon says buy

Musician Paul Simon’s countryside estate in Connecticut, which comes with a recording studio in a separate cottage to the 8,500 sq ft main house, is up for sale for $13.9m. The 32-acre grounds of the New Canaan property include a brook, meadows, woodlands and waterfalls, according to the The Wall Street Journal, though whether there is a bridge over troubled water is not specified.