While many decry home insurance rates in places like Florida, New York and California, Oklahoma is a state with possibly some of the US' highest rates for home insurance, primarily due to its location and susceptibility to natural disasters like tornadoes. A $500,000 home costs about $7,000 to insure, about double that of Florida and 28% more than Texas. (insurance.com)
Luxury Home prices in Dubai surged 48.8% in the past year, fueled by an influx of Russian and Asian buyers ....and those simply seeking a tax haven (ZERO income taxes!). Dubai has an excise tax on goods that are harmful to you: 50% on carbonated drinks. 100% on tobacco products and energy drinks. Rents are also up over 22%. Dubai luxury is relatively affordable globally: $1 million buys you a home 6X the size of a home in Monaco and triple the size of one in Singapore.
Monaco and Tokyo fared well too with a 26,2% surge while Miami featured on the TOP 10 list with home prices surging 7.5%! Foreign buyers have fueled most of the big gains which can trigger local push-back: In Singapore, since April 2023 foreigners purchasing residential property in have to pay 60% additional buyer’s stamp duty, double the 30% from before. New York luxury home prices dropped 3.9%, and San Francisco recorded an 11.1% drop. Germany’s Frankfurt was at the bottom of the list with a 15.1% dive. (CNBC/Bloomberg)
