United States – Total Vehicle Sales are Rising
According to the US Federal Data, the lowest vehicle sale happened in April 2020 during which 8.834 million units were sold. Then we find the highest sale happened in April 2021. 18.502 million units were sold during the Covid-19 period, double the sales in one year. From where did the consumers get the money to buy about 10 million more vehicles than the previous year?
It could be the result of stimulus checks and the economic impact payments (EIP) that the government pumped into the economy during the pandemic period.
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”
In 2021, there was a bull market that put many economists and analysts in delusion. Since then, a massive market correction has been happening
In September 2021, the total sales fell to 12.747 million units. Then, we find a steady climb with very little fluctuations. In October 2023, total vehicle sales reached 15.972 million units.
In 2023, state sales taxes vary from 0% to 8.3%.
The big three in the US are General Motors, Ford, and Chrysler.
How do the vehicle manufacturers fare at the New York Stock market?
The market cap of the top vehicle manufacureres are given below.
GMC
The Oil Crash is not Crushing the UAE’s Real Estate Market
Dubai was the busiest market for high-value property, well above New York, London, and Hong Kong in Q1 and Q2 of 2023. Over 53% of high-value property sales of $10 million and above took place in Palm Jumeirah. At the end of Q3 2023, the average transacted price for high-value homes in Palm Jumeirah was AED 6,557 per square foot. In Q3 2023, the average price in Madinat Jumeirah Living development was AED 15,700 per square foot.
“Dubai is the perfect place in terms of safety, and stability for investors in real estate in 2023. Presently, average yearly return on real estate investment in Dubai is between 5% to 8.4%.” Dr. Leo Rajan Pereira
The average price for high-value residential property per square foot in Dubai is $800 compared to $2000 in London and $1900 in New York. Comparatively, Dubai real estate prices are only a third of other major cities. Some of the leading developers in Dubai are Emaar Properties, Nakheel, Damac Properties, Sobha Realty, MERAAS, and Dubai Holding. 
The real estate market is expected to boom in the next decade in Dabai. His Highness Sheikh Mohammed bin Rashid Al Maktoum launched the UAE Tourism Strategy 2031. Since UAE is becoming one of the most attractive tourist destination, the real estate market is very promising.
By analyzing Dubai residential sales prices from Q1 2007 to Q3 2023, the price per sq. ft. ranges from AED 800 to AED 1500. The recession in 2008 and the Covid-19 pandemic did affect the price significantly. During those periods, the real estate values reduced by 30% to 40%. We found the last market peak in 2014. Our analysis shows the next real estate market peak in Dubai could happen in the next few years.
The super prime home buyers spent $4.91 billion in the first three quarters of 2023. In Q3 alone, the high-value property buyers spent $1.59 billion. The geopolitical crisis benefited the Dubai housing market. The oil price crash did not affect the real estate market in Dubai. The property transactions in Dubai in 2023 surpass the previous record in 2009.
The latest conflict between Israel and the Palastine could find the oil price hike. During every war in the Middle East causes a significant price hike anywhere between 20% to 60%.
The GDP os UAE is expected to expand by about 3% in 2023 but the population will grow by 4%. Global economic meltdown has not affceted significantly in the high-value real estate market in Dubai. However, the real estate value is increasing consecutively during the last nine quarters.
The average rent in Dubai is about AED 88 psf. Apartment rents increased by 26% since 2022. Soaring rent in Dubai is directly related to demand.
Irrespective of the global economic turmoil due to high inflation, rising interest rate, and stalling economic growth, Dubai’s high-value real estate market is surging. As of November 18, 2023, there were 116,464 sales entries were exibited in the real estate data of the Government of Dubai. 6996 transactions worth AED 1.98 billion had taken place during this period.
