Newsletter

Global Risks Are BuildingThe global economy is entering a more fragile phase as geopolitical tensions, persistent inflation, elevated sovereign debt and stretched asset valuations converge.Energy remains one of the biggest transmission risks. Continued disruption around the Strait of Hormuz and Bab el-Mandeb could constrain a significant share of globally traded seaborne crude, creating renewed inflation pressure.Under a sustained supply-shock scenario, oil prices could potentially move towards US$95 to US$130 per barrel, adding pressure to businesses, consumers and financial markets.At the same time, investors are already reacting to greater uncertainty. In the week ending 9 July 2026, gold rose around 7.2%, silver gained roughly 10%, while the Nasdaq Composite advanced 5.2%, reflecting the unusual combination of defensive positioning and continued enthusiasm for technology assets. Rates and AI Add Another Layer of UncertaintyBond markets are also signalling concern. The US 30-year Treasury yield reached 5.27%, its highest level since 2007, reflecting worries around inflation, government finances and longer-term borrowing costs.The Federal Reserve may increasingly face a difficult balance between containing inflation and protecting economic growth. Additional rate increases could create greater pressure on the US economy, while a stronger dollar may help reduce imported inflation and eventually provide more policy flexibility.Meanwhile, AI remains a major source of both opportunity and market risk. The attached market data also indicates rising hedging costs around AI-related stocks, suggesting investors are becoming more cautious about valuations and creditworthiness across the technology sector.OutlookThe 2026 macroeconomic environment is likely to remain volatile and highly sensitive to geopolitical events, energy prices and monetary policy.For investors, the key theme is increasingly risk management over simple market direction, particularly as inflation risks, elevated yields and rapid AI-driven disruption continue to reshape global capital markets.The contents of this article were contributed by Shan Saeed, IQI Chief Economist.Download to see insights from other country marketsDownload

Dubai Office Market Remains StrongDubai’s commercial real estate market continues to show strong momentum, particularly in high-quality office assets.Rental-contract registrations rose 24.6% year-on-year in Q2 2026, while Dubai recorded 38,082 office leasing transactions, up 4% from the previous quarter. Office occupancy also remained high at around 94%.Demand is being driven by financial services, technology companies, regional headquarters and other businesses seeking modern, efficient and well-connected Grade-A office space.Investor activity remains equally strong. Off-plan office sales reached AED 13.1 billion across 1,668 transactions in H1 2026, with Business Bay accounting for approximately 52% of total sales value. Prime Assets Continue to OutperformDubai office rents increased 13% year-on-year in Q2, while prime office rents rose by 16%.Pricing has also strengthened in key locations. Average Downtown Dubai office values reached AED 5,130 per sq ft at the end of 2025, representing a 29% annual increase.Broader investor confidence remains robust. Dubai recorded AED 252 billion in total real estate transactions in Q1 2026, while foreign real estate investment climbed 26% year-on-year to AED 148.35 billion.However, the opportunity is becoming increasingly asset-specific. Around 24.2 million sq ft of new office supply is scheduled for delivery between 2026 and 2030, which could gradually moderate rental and price growth.OutlookDubai’s commercial property outlook remains positive, but investors may need to become more selective as new supply enters the market.The strongest opportunities are likely to remain in prime locations with metro connectivity, strong tenants, efficient layouts, professional building management and visible rental income.Rather than relying on broad market momentum, the focus is increasingly shifting towards durable income and the scarcity of quality Grade-A offices.The contents of this article were contributed by Haroon Anwar, Head of Global Wealth Management.Download to see insights from other country marketsDownload

Major Markets Lose MomentumCanada’s housing market remained relatively balanced in July 2026, as buyers stayed cautious despite improved borrowing conditions. Sales and new listings slowed across major markets, while prices continued to soften in several regions.In the Greater Toronto Area, sales fell 0.9% year-on-year, while new listings dropped a much sharper 17.8%. The average selling price declined 4.5% to C$1,003,956, although reduced supply has begun increasing competition among buyers.Metro Vancouver also slowed, with home sales falling 9.8% year-on-year to 2,061 transactions. New listings declined 11.5%, while the composite benchmark price fell 6.2% year-on-year to C$1,088,800. Apartment sales recorded the largest drop, down 17.8%. Quebec Shows a Different PatternQuebec also experienced softer transaction activity, with total sales down 6% year-on-year in July. However, active listings increased 19%, giving buyers more choice.Price trends were more mixed. The median price for single-family homes increased 3% to C$505,000, while plex properties recorded an 8% increase to C$690,000. Condominium activity was weaker, with sales falling 16% and median prices edging down 1%.The figures highlight how Canada’s housing adjustment is increasingly varying by region and property type.OutlookCanada’s market is likely to remain balanced but selective in the near term. Toronto and Vancouver may continue facing price pressure as demand adjusts, although tighter new supply could provide some support.For buyers and investors, opportunities will increasingly depend on local inventory, property type and pricing, rather than broad national market trends.The contents of this article were contributed by Yousaf Iqbal, Head of IQI Canada.Download to see insights from other country marketsDownload

Recovery Led by Value and InfrastructureCambodia’s real estate market is moving through a gradual and selective recovery, with buyer confidence improving but purchasing decisions remaining cautious.Demand is increasingly concentrated on properties offering strong value, good locations and reliable quality. Buyers are also placing greater importance on legal documentation, completed or reputable developments and long-term investment potential.Infrastructure remains one of the strongest drivers. Ring Road 3, the New Techo International Airport, and the continued expansion of southern and western Phnom Penh are reshaping development patterns and supporting demand for land and residential projects along key growth corridors. Landed Homes and Growth Corridors LeadThe residential market is gradually stabilising, with the strongest demand seen in affordable and mid-market properties.The borey segment remains relatively active, although affordability, financing conditions and household purchasing power continue to influence sales.Condominiums are recovering more slowly. Performance remains highly location-dependent, while existing supply and absorption continue to weigh on some projects.By comparison, growth-corridor land continues to show some of the strongest long-term potential, particularly in areas benefiting from infrastructure development and urban expansion.OutlookCambodia’s property recovery is expected to remain gradual rather than broad-based.Affordable landed housing and growth-corridor land are likely to remain the strongest-performing segments, while condominium recovery will favour projects with competitive pricing, strong locations, good quality and clear rental demand.As investors become more disciplined, opportunities are likely to favour buyers who focus on fundamentals, infrastructure and long-term value rather than short-term speculation.The contents of this article were contributed by Sorn Seap, Head of Juwai Cambodia.Download to see insights from other country marketsDownload

Bali: A More Established Property MarketBali has evolved far beyond its reputation as a holiday destination. Today, it is a mature international real estate market supported by millions of visitors, established hospitality brands, restaurants, beach clubs, wellness concepts and international schools.Popular areas such as Canggu, Pererenan and Uluwatu have already experienced significant development. As prices and competition increase in these locations, investors are increasingly looking towards emerging areas where land and property may still offer stronger growth potential.For investors, success in Bali is becoming less about simply owning property on the island and more about choosing the right micro-location, concept and legal structure. Indonesia’s efforts to attract more international capital also add to the broader investment story. Lombok: Earlier in the Growth CycleLombok presents a very different opportunity.The island remains at an earlier stage of development, supported by an international airport, the Mandalika development, MotoGP circuit, and a growing pipeline of hotels, resorts and villas around Kuta Lombok and the south coast.Property prices can still be considerably lower than comparable locations in Bali, giving Lombok potentially more room for long-term appreciation.However, an earlier-stage market also brings greater development and execution risk, making project selection, developer quality and due diligence especially important.OutlookThe choice between Bali and Lombok ultimately depends on an investor’s strategy.Bali offers a more established tourism and rental market, while Lombok offers greater early-stage growth potential. Rather than viewing them as competing markets, investors may benefit from understanding both and identifying where future tourism and development demand is likely to move next.The contents of this article were contributed by Liv Baggen, Head of Global Sales, Juwai IQI; Founder, Homes in Asia.Download to see insights from other country markets Download

Australia’s Housing Downturn SpreadsAustralia’s housing market lost further momentum in July, with Cotality’s national Home Value Index falling 0.7%, its largest monthly decline in more than three years.Sydney and Melbourne remained the weakest major markets, with home values falling 1.4% and 1.2% respectively during the month.However, the slowdown is becoming more widespread. Brisbane declined 0.6%, while Adelaide fell 0.2%, with both cities recording two consecutive months of falling values following historical revisions.Perth showed a small 0.1% monthly increase, although its June result was revised to a 0.5% decline, signalling how quickly conditions have shifted from the city’s earlier growth phase. Premium Homes Feel More PressureThe correction has been particularly noticeable at the higher end of the market.Values in the upper quartile fell 3.2% over the three months to July, compared with a 0.3% gain among lower-value properties.Several factors are weighing on demand, including affordability constraints, three cash-rate increases and weak consumer confidence. At the same time, advertised housing supply has increased.Capital-city auction clearance rates have remained below 50%, suggesting buyers and sellers are still struggling to agree on pricing.OutlookAustralia’s housing market is likely to remain price-sensitive and uneven across cities and property segments in the near term.With higher-value homes experiencing the greatest pressure, buyers may gain greater negotiating power in selected markets. For homeowners and investors, conditions will require closer attention to local demand, pricing and affordability rather than relying on broader national trends.The contents of this article were contributed by Lily Chong, Head of IQI Australia.Download to see insights from other country marketsDownload

Juwai IQI Expands Its Indonesia NetworkJuwai IQI continued strengthening its international footprint in August with the addition of IQI Bali and IQI Lombok to its global network.The expansion was established through a strategic partnership with Homes in Asia, positioning the business to represent Juwai IQI across Bali and Lombok.The partnership combines local property knowledge and relationships with Juwai IQI’s international real estate network, technology and cross-border capabilities, creating stronger connections between Indonesian opportunities and global buyers.The collaboration was formalised during a signing ceremony at IQI Global Headquarters in Millerz Square on 29 August 2026, marking another step in the group’s regional growth strategy. Developing the Next Generation Through AIAlongside its international expansion, Juwai IQI also focused on developing future-ready talent through IQI Youth Connect 2026 and the IQI AI Hackathon 2026.Youth Connect brought together young Malaysians aged 18 to 35 at IQI Global Headquarters on 22 August, providing a platform centred on learning, networking and emerging opportunities.That momentum continued through the AI Hackathon, where 30 teams developed AI-powered solutions spanning real estate, marketing, productivity and deal-making.Participants were challenged to build, test and refine practical ideas within a limited timeframe, encouraging hands-on experimentation with technology rather than simply discussing its potential.OutlookThese two developments reflect complementary parts of Juwai IQI’s growth strategy.Expanding into Bali and Lombok strengthens the group’s ability to connect international investors with emerging Asian property markets, while programmes such as Youth Connect and the AI Hackathon help build the skills needed for an increasingly technology-driven industry.Together, they position Juwai IQI for growth through market expansion, technology and next-generation talent.Discover More HereDownload

Property Fundamentals Pass the Mid-Year TestThe first half of 2026 tested global property markets through regional security tensions, temporary repricing and changing financing conditions.What followed was a rapid recovery and a clearer investment picture. Capital is now moving towards markets supported by demographics, infrastructure and policy, rather than short-term speculation.The United Arab Emirates demonstrated strong resilience. Dubai recorded approximately AED 286 billion in property sales during H1 2026, the second-highest first-half result on record. Rental yields remain near 7%, while freehold ownership, tax-free rental income and Golden Visa eligibility continue to attract international investors.Saudi Arabia is emerging as a new foreign investment destination following the introduction of its non-Saudi property ownership law in January 2026. Riyadh offers gross yields of around 7% to 9%, while apartment rents have risen nearly 20% year-on-year. More than 780 multinational companies have also committed to establishing regional headquarters in the Kingdom. Malaysia and Japan Offer Different StrengthsMalaysia remains one of ASEAN’s most accessible growth markets. Property transactions reached RM241.9 billion in 2025, while Johor attracted a record RM110 billion in approved investment.The upcoming Rapid Transit System Link between Johor Bahru and Singapore is strengthening interest near station locations, where selected units have already appreciated 18% to 20%. Prime transit-linked properties in the Klang Valley continue to offer yields of approximately 4% to 5%.Japan provides a more defensive opportunity. The average price of a new condominium in Tokyo’s 23 wards reached ¥137.8 million, up 18.5%, while supply fell to its lowest level since 1973. High occupancy, transparent ownership rules and a weaker yen continue to support demand.OutlookThe strongest property opportunities in the second half of 2026 are likely to be found in markets where policy reform, infrastructure investment and genuine demand support long-term returns.The UAE and Saudi Arabia offer stronger yields, Malaysia provides accessible growth, while Japan remains a stable portfolio anchor.Download to see insights from other country marketsDownload