Luxe Real Estate in Dubai is Booming and NYC is Turning Offices into Apartments

November 29, 2023

In this week's Above the Line, we look into the luxury real estate boom in Dubai, see New York City converting surplus office spaces into apartments, and get the latest insights from Zillow on home sales.

Let's dive right in.

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Dubai and London's Luxury Real Estate Boom
Bloomberg
The super-prime real estate market isn't impervious to broader market trends, as recent data indicates a -2.4% downturn in ultra-luxury home sales. However, Dubai's $10m+ sales rose to 89 from 58, defying the slowdown.



Transforming NYC Offices into Apartments
New York Post
In New York City, architects are repurposing commercial office spaces into residential apartments, adapting to changing market needs and space utilization dynamics.

Sales, Prices Fell In October After Historic Surge In Interest Rates
Zillow ResearchZillow's latest report reveals a downturn in sales and prices in October, following a historic rise in interest rates, signaling further cooling in the housing market.

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