PNC Menon, founder and chairman of real estate developer Sobha Group, predicted that Dubai's luxury property prices, which dropped 1.9% from September 2014 to March 2015 according to a recent Knight Frank report, would be “back to normal” by the year’s end. [ArabianBusiness.com] Don’t overlook Dallas. The recent Case-Shiller 20-City Composite Home Price Index found that home prices in the Texas city “jumped 9.3 percent, twice the national average of 4.1 percent.” Only San Francisco and Denver performed better. [Breitbart] We told you about the market’s rebound in Madrid, but it looks like the Spanish recovery is spreading. Forbes tracks the increasing volume of prime property transactions taking place across the country. [Forbes] Luxury high-rises throughout New York City are hiring lifestyle managers to “stage summer pool parties, aromatherapy classes and ice-cream socials for time-poor, cash-rich residents.” Property managers hope these condo concierges will help retain current residents and entice new buyers. [New York Post] USA TODAY reports on the flood of foreign buyers making property purchases, oftentimes in cash, in Miami. [USA TODAY] Australian Secretary to the Treasury John Fraser has stated that Sydney is “unequivocally” experiencing a housing bubble. [news.com.au] According to property mogul and McGrath Estate Agents CEO/Founder John McGrath the only place in Australasia worth buying right now is south east Queensland. [news.com.au] The increasing value of land in Qatar may soon render even luxury developments unprofitable to build. [Gulf Business] Have an update for Mansion Global? Write to us at info@mansionglobal.com
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