In the secondary market
, 1,020 residential units sold were over Dh5 million compared to 14,520 units which were under Dh5 million.
But in the apartment category, the situation was such that gains were made on both the number of units sold and the average value these deals fetched in the secondary market
. So, what could explain the sudden improvement in sales values at a time when the wider market is still downbeat?
The secondary market
refers to previously owned properties while the primary market refers to new properties by developers.
On one end of the spectrum, illiquid assets such as property and private equity funds, show the greatest number of issuer advantages if they use digital securities that trade on a secondary market
. The three main advantages being: - Increased liquidity: Illiquid assets, such as property, will not suddenly trade at high volumes but it will improve the current situation.
Other communities seeing a lot of traction in super-luxury residential sales worth Dh40 million and above are Emirates Hills (secondary market
) and Bulgari Resort & Residences (off-plan) in Jumeirah Bay.
42 basis points up from the secondary market
rate of 4.8648 percent.
R1 rates or market rates for the 91-day tenor that closed in the morning settled at 3.878 percent, while secondary market
rates or R2 rates that were closed in the afternoon settled at 3.305 percent for the tenor.
An increasingly liquid market also means that funds are finding their way into the secondary market
, now that the government has hit its domestic borrowing target before the end of the fiscal year and is therefore unwilling to take up a lot of money in primary auctions.Some of the excess liquidity may also find its way to the equities market, which also recorded a rise in traded turnover last month to Sh18.4 billion from Sh15.1 billion in April.
What are Secondary Market
Tax Liens: Liens that were purchased at the tax sale by an investor that are now being sold, or "assigned" to another investor.
An extended use of the templates is expected to widen the investor base, lower entry barriers to potential investors, improve data quality and availability, support price discovery and facilitate the development of the NPL secondary market
The Public Debt Management Office (PDMO) said that it selected seven international investment banks to help develop an "efficient" secondary market
for Cypriot government securities.
Investors who wish to sell their positions in these funds tend to bear those transaction costs, according to The Liquidity Cost of Private Equity Investments: Evidence from Secondary Market
Transactions (NBER Working Paper No.