The Middle East’s financial capital of Dubai established a record for total house sales last year and drove rents to previously unheard-of heights as a result of a spectacular reversal in the real estate industry. According to real estate advisor CBRE Group Inc., the city recorded 90,881 real estate transactions in 2022, breaking the previous high of 81,182 transactions achieved in 2009. Residential leases, also known as Ejari contracts, rose by 11% in 2022 compared to the previous year, which was a result of an increase in the number of transactions in the resident city. In an interview, Taimur Khan, the director of CBRE Research, remarked, “It’s been a great year. “This is the biggest number of transactions on record, … Read more
Is the Dubai Water Canal going to be the next “billionaires’ row” in the city?
Are billionaire investors searching for pricey properties going to the Dubai Water Canal as their next stop? It would seem so given the purchase of two duplex penthouses by a private family office acting on behalf of a “European billionaire.” These apartments are a part of Mr.C Residences Jumeirah, where a single deal may fetch over Dh120 million (about a million). This shows how in-demand luxury investment properties will remain in Dubai until 2023. The deal was handled by Everose Properties, which was represented by Karl Shehfe and Gregory Mathieu. The buyer’s identity was kept a secret. The deal is still pending, but market opinion indicates that in the coming weeks, more than 100 million dirhams would be more interesting.… Read more
UAE’s real estate industry is thriving!
Tags: DubaiReal EstateUAE
Due to high demand, improved returns, and strong investor confidence, the UAE real estate market is seeing rapid growth. The first phase of the “Rukan Lofts1” project, which Reportage Properties, a significant UAE real estate developer, is building in the “Dubailand” region in collaboration with the “Continental Investments” company, has been completed.… Read more
Can Dubai’s increased interest in technology help the city’s real estate market?
For many years now, Dubai has served as the center of both global change and tourism, drawing several ex-pats there each year. It’s hardly surprising that its real estate business has experienced constant growth in terms of local and foreign capital. Despite the market’s decline at one time in COVID-19, it has since rebounded to show a record increase in asset fee and income transactions by the second quarter of 2022.… Read more
Due to “far outstripping” income rises, inhabitants of Dubai are being compelled to relocate!
Tags: UAE
Residents of Dubai are being encouraged to “spend smarter” to deal with rising expenses as they experience looming condo rises as the emirate’s real estate industry expands. Al Arabiya English reported this week that rising property costs across the emirate are driving struggling residents to downsize because rising rents are outpacing income growth. Dubai’s real estate market recovery has exploded in 2022 as the emirate’s economy continues to make a strong post-COVID-19 comeback. Many people suffer from rising rents and stagnant wages that don’t keep up with the cost of living in the homes they rent.… Read more
Dubai: A new rental index that takes building quality and amenities into account
Tags: DubaiRental GuideUAE
Dubai‘s new condo index may be based entirely on residences rather than projects inside communities and neighborhoods. According to industry assets, the brand-new building index will be based entirely on the super mega-celebrity scores of each building, its quality, and the amenities it provides to the residents.… Read more
Report: UAE records unprecedented growth in residential real estate
According to data provided by ZāZEN Properties, Dubai has set a 12-year high within the 0.33 sector in terms of the volume and price of the sale of off-the-plan and secondary properties. In the first half of this year, Dubai’s off-plan market had a 133% surge, and in the third quarter of 2022, 25,456 revenue transactions of AED69.72 billion were recorded. As the Qatar World Cup 2022 approaches, it is believed that the event will have a significant impact on the UAE’s residential real estate market. … Read more
What India and the GCC markets are doing for luxury real estate?
Tags: GCCIndiaReal EstateUAE
If the most recent selection of expensive real estate deals made through celebrities is anything to go by, the Indian real estate market has been seeing a growing trend, especially inside the opulent dwelling space. Such deals highlight the remarkable increase in demand for this outstanding area of the city’s real estate market. The market for luxury real estate has shown exceptional growth recently, outpacing business projections and attracting the interest of many HNIs and NRIs. The segment and the Indian real estate industry as a whole will benefit from the converted investor hobby, fueled by the anticipated increase in capital values and expanded investor hobby.… Read more
Dubai real estate is red hot but prices will continue to rise in the bull market
Tags: NewsReal EstateUAE
Russians made up the majority of the top 5 buyers in Dubai‘s red-hot asset market during the first half of the year as investors flocked there as the emirate benefited from an influx of riches after Western sanctions. Residential real estate transaction volumes increased by 60% in the first half of 2016, while the price of homes sold increased by 85%, according to research from the resources consulting Better homes.… Read more
UAE Golden Visa reforms will spur growth in the vacation home and real estate markets in Dubai
Tags: DubaiReal EstateUAE
Golden Visa, a 10-year residence program, has sparked significant interest among foreign purchasers to purchase property in Dubai, which has become one of the most well-known financial centers on the planet. According to Zoom Property Insights, Dubai is expected to attract a significant chunk of the global citizenship-through-funding sector, which is expected to grow five times to reach $100 billion by 2025. The emirate has implemented visa changes at the right moment, and golden and silver visas might attract significant financing inside the private sector.… Read more
