Business
Delhi-NCR Clocks Highest Yearly Average Residential Price Rise At 23% In 2025
New Delhi: Delhi-NCR recorded the highest yearly average residential price rise at 23 per cent in 2025 — from Rs 7,550 square feet in 2024 to about Rs 9,300 per sq ft in 2025, according to a new report.
On an annual basis, the collective average housing price rose by 8 per cent in the top seven cities – from Rs 8,590 per sq ft by Q4 2024-end to around Rs 9,260 per sq ft at Q4 2025-end, according to Anarock Research data.
The other major cities recorded single-digit price appreciation, ranging between 4-9 per cent in 2025 as against last year’s 13-27 per cent in 2024, the report mentioned.
Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad and Delhi-NCR, together, accounted for 90 per cent of overall sales in 2025 across the top seven cities.
“MMR saw the highest sales with approx. 1,27,875 units sold in 2025; declining by 18 percent against 2024. Pune saw approx. 65,135 units sold in 2025 – a yearly decline of 20 percent over 2024. Bengaluru also saw just a marginal yearly decline of 5 percent in housing sales, with approx. 62,205 units sold in 2025,” the report mentioned.
The top seven cities saw about 4,19,170 new units launched in 2025, against 4,12,520 units in 2024 – a 2 per cent annual increase. The key cities contributing to new supply during the year were MMR, Pune, Bengaluru, and NCR, which together accounted for 79 per cent of the total new unit additions.
On an annual basis, unsold inventory in the top seven cities rose 4 per cent by 2025-end, largely because of tapered demand and increased new supply in the year. About 5.77 lakh units are currently on the primary sales market in these cities.
“Notably, thanks to restricted new supply in the city, Hyderabad saw a marginal decline of 2 per cent in unsold stock in 2025 – from approx. 97,765 units by 2024-end to approx. 96,140 units by 2025-end,” said the report.
Mumbai Metropolitan Region (MMR) also witnessed a marginal 1 per cent decline in unsold stock. All other cities saw their unsold inventory rise over the year, with Bengaluru recording a significant 23 per cent increase.
Business
Dubai gold prices break records: What’s driving the rally and should you buy in 2026? – The Times of India
Dubai’s gold market delivered a giant surprise in 2025, marking one of the most dramatic rallies in recent history. What started as a modest year for bullion turned into a breakout performance, with the price of 24-carat gold climbing by more than Dh200 per gram and delivering massive gains for investors, collectors and everyday residents alike.
Gold’s remarkable rally in 2025
According to market data, the price of 24K gold opened the year at Dh318 per gram on January 1, 2025 and finished the year at Dh520 per gram on December 31, a jump of roughly 63.5 percent. This means that anyone holding physical gold throughout the year saw the value of their holdings rise by more than Dh200 per gram. The 22-carat variant also saw remarkable gains, climbing from about Dh294.50 to Dh481.50 per gram, roughly a Dh187 increase, while even 21K gold rose around Dh176.75 per gram over the same period. By contrast, the newly introduced 14K gold, launched in the UAE on November 29, posted a more modest 2.3 percent gain, reflecting its lighter weight and broader affordability for everyday wear.
Why gold took off
Several economic forces came together in 2025 to fuel this dramatic upswing. Given the safe-haven demand, global investors and central banks including those in the Gulf, shifted capital into gold as a hedge against market uncertainty and geopolitical risk, a pattern seen throughout 2025. According to reports, gold’s rally in 2025 was the strongest annual performance since the late 1970s, with prices soaring nearly 70 percent globally.
Dubai Gold Shock: 24K Prices Jump Over Dh200 Per Gram in One Year. Are You Sitting on a Fortune?
Interest rate dynamics with expectations of lower US Federal Reserve interest rates and the appeal of non-yielding assets helped lift gold’s allure. Lower real yields often make gold more attractive relative to bonds and other financial instruments. The Central Bank of the UAE increased its gold holdings significantly in 2025, growing reserves by about 26 percent to nearly $7.9 billion as global economic uncertainty persisted, a historic move that underscored gold’s strategic value. These factors combined to create a strong backdrop for prices, pushing bullion sharply higher even as other asset classes posted uneven returns.
Impact on Dubai and the Gulf region
For residents and investors in Dubai, long accustomed to the Gold Souk’s bustling trade and precious-metal culture, the surge translated into real-world gains. Retail buyers saw both jewellery and bullion values climb, lifting the wealth of long-term holders. With 24K gold prices consistently near or above Dh520 per gram in late December and into early 2026, bullion became a focal point for investment as much as adornment. At the same time, short-term volatility such as a near Dh18 drop in just one day toward the end of the year due to profit-booking in global markets, reflected how active trading and profit-taking can influence local UAE prices even amid a strong overall rally. Jewellers and bullion dealers across Dubai’s famous Gold Souk and regional markets noted the heightened interest, particularly from expatriate buyers and Middle Eastern investors seeking to protect wealth in an uncertain macroeconomic environment. The UAE’s competitive pricing environment, where making charges and taxes are relatively low, further incentivises local and international buyers alike.
Global gold context: Safe haven, surging demand
Dubai’s gold price story fits into a broader global trend. Precious metals surged worldwide in 2025 as investors raced toward safe havens amid geopolitical unrest and economic concerns. Gold topped record levels over $4,300 per ounce internationally, one of the metal’s best annual performances in decades.
Gold Made Dubai Richer in 2025: Why Prices Exploded and What It Means for 2026
Analysts and major institutions such as Deutsche Bank and Goldman Sachs forecast continued strength through 2026 and beyond, with projections ranging from $4,000 to over $4,900 per ounce by year-end, supported by sustained central bank buying and geopolitical tension. This global backdrop helped lift sentiment in Dubai and the broader Gulf, where gold remains culturally and economically significant.
What’s ahead for gold in 2026?
After a spectacular run in 2025, markets are closely watching how 2026 unfolds. Early data suggests that gold prices continued to hold near high levels in early January 2026, even after slight profit-taking in global markets. Forecasts by international analysts suggest continued upside potential if geopolitical risks and safe-haven demand remain strong. For Gulf investors, this means that gold remains a key hedge and wealth preserver, not just a jewellery purchase.
Bottom line: A golden year that redefined markets
Dubai’s gold surge in 2025, with 24K climbing more than 60 percent, marked a rare standout year for precious metals. From record price gains to heightened global demand and strong central bank involvement, gold’s rally reflected broader economic and geopolitical forces at play. As 2026 begins, many investors and analysts see bullion continuing to play a central role as a store of value, especially in a world marked by uncertainty and shifting financial landscapes.
Archie Mitchell,Business reporterand
Natalie Sherman,Business reporter
ReutersDonald Trump has vowed to tap into Venezuela’s oil reserves after seizing President Nicolás Maduro and outlining plans to “run” the country.
The US president wants American oil firms to pile billions of dollars into the South American country, which has the largest crude oil reserves on the planet, to mobilise the largely untapped resource.
He said US companies will fix Venezuela’s “badly broken” oil infrastructure and “start making money for the country”.
But experts warned of huge challenges with Trump’s plan, saying it would cost billions and take up to a decade to produce a meaningful uplift in oil output.
So can the US really take control of Venezuela’s oil reserves? And will Trump’s plan work?
How much oil does Venezuela have?
It is true that with an estimated 303 billion barrels, Venezuela is home to the world’s largest proven oil reserves.
But the amount of oil the country actually produces today is tiny by comparison.
Output has dropped off sharply since the early 2000s, as former President Hugo Chavez and then the Maduro administration tightened control over the state-run oil company, PDVSA, leading to an exodus of more experienced staff.
Though some Western oil firms, including the US company Chevron, are still active in the country, their operations have shrunk significantly as the US has widened sanctions and targeted oil exports, aiming to curb Maduro’s access to a key economic lifeline.
Sanctions – which the US first put in place in 2015 during President Barack Obama’s administration over alleged human rights violations – have also left the country largely cut off from the investment and the parts it needs.
“The real challenge they’ve got is their infrastructure,” says Callum Macpherson, head of commodities at Investec.
In November, Venezuela produced an estimated 860,000 barrels per day, according to the latest oil market report from the International Energy Agency.
That is barely a third of what it was 10 years ago and accounts for less than 1% of world oil consumption.
The country’s oil reserves are made up of so-called “heavy, sour” oil. It is harder to refine, but useful for making diesel and asphalt. The US typically produces “light, sweet” oil used to make petrol.
In the run-up to the strikes and capture of Maduro, the US also seized two oil tankers off the coast of Venezuela, as well as ordering a blockade of sanctioned tankers entering and leaving the country.
What are the challenges for oil firms?
Homayoun Falakshahi, senior commodity analyst at data platform Kpler, said the key hurdles for oil firms hoping to exploit Venezuelan reserves are legal and political.
Speaking to the BBC, he said those hoping to drill in Venezuela would need an agreement with the government, which will not be possible until Maduro’s successor is in place.
Companies would then be left gambling billions of investment on the stability of a future Venezuelan government, Mr Falakshahi added.
“Even if the political situation is stable, it’s a process that takes months,” he said. Companies hoping to take advantage of Trump’s plan would need to sign contracts with the new government when it is in place, before beginning the process of ramping up investment in infrastructure in Venezuela.
Analysts have also warned it would take tens of billions of dollars – and potentially a decade – to restore Venezuela’s former output.
Could the plan lower global oil prices?
Neil Shearing, group chief economist at Capital Economics, said Trump’s plans would have a limited impact on the global supply, and therefore price, of oil.
He told the BBC there are “an enormous number of hurdles to overcome and the timeframe of what is going to happen is so long” that oil prices in 2026 would likely see little change.
Mr Shearing said firms would not invest until a stable government is in place in Venezuela, and the projects would not deliver for “many, many years”.
“The issue has always been decades of underinvestment, mismanagement and it is really expensive to extract,” he said.
He added that even if the country could return to previous production levels of around 3 million barrels per day, it would still be outside the world’s top 10 producers.
And Mr Shearing pointed to high production among OPEC+ countries, saying the world is currently “not suffering from a shortage of oil”.
What have the oil companies said?
Chevron is the only American oil producer still active in Venezuela, after receiving a licence under former President Joe Biden in 2022 to operate, despite US sanctions.
The company, currently responsible for around a fifth of Venezuelan oil extraction, said it is focused on the safety of its employees and is complying “with all relevant laws and regulations”.
Other major oil firms have been publicly silent on the plans so far, with only Chevron addressing the situation.
But Mr Falakshahi said oil bosses will be in talks internally about whether to take advantage of the opportunity.
He added: “The appetite to go somewhere is linked to two main factors, the political situation and the resources on the ground.”
Despite the hugely uncertain political situation, Mr Falakshahi said “the potential prize may be deemed too big to avoid”.
Business
Indian equities outlook: ICICI Prudential flags stable macro backdrop; warns valuations already price in optimism – The Times of India
The broader macro backdrop for Indian equities remains stable heading into 2026, supported by healthier corporate balance sheets and early signs of an earnings recovery across sectors, according to ICICI Prudential Alternate Investments. However, after a long market upcycle and widespread rerating, much of the optimism on growth and profits is already reflected in stock valuations, the report cautioned.In its report titled “Outlook 2026: Beyond Narratives”, ICICI Prudential said that while the opportunity set in Indian equities continues to look attractive, market returns are likely to be more moderate going forward.It added that broad, index-led gains may give way to outcomes driven by selective stock picking rather than sweeping macro narratives.“After an extended market cycle and a rerating across many parts of the market, much of this macro and earnings optimism is already reflected in valuations,” the report said, adding that execution and company-specific fundamentals are expected to matter more than themes. “We believe going ahead, execution is likely to trump narratives, and disciplined micro research is likely to outweigh broad macro views,” it noted.Looking at the wider economy, the report said India appears to be in “good shape” as it moves deeper into the 21st century. A favourable demographic profile, with a large working-age population entering the labour force, places India in a stronger position compared with economies grappling with ageing populations.While foreign capital inflows have been lower than historical levels, the report said India’s growth prospects could still attract overseas investors over time. It also pointed out that the government’s fiscal position is on a consolidation path.Corporate financials have strengthened notably, with operating cash flows, profit after tax and investing cash flows growing at compound annual rates of 18 per cent, 15 per cent and 14 per cent respectively between FY19 and FY25, compared with single-digit growth in the earlier period, as per news agency ANI.The report also sees scope for faster economic growth alongside a normalisation in inflation. It added that improvements in geopolitics and trade ties with major partners such as the US, China and Europe could act as catalysts, potentially boosting sentiment and positioning India favourably in emerging global supply chains.
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