KNOWLEDGE IS POWER

Dubai South Properties has announced the successful sell-out of the final phase of South Bay, its unique development in the heart of Dubai South, in 4 hours after launching it onto the market. The new phase incorporated 160 units comprising of three, and four-bedroom townhouses, as well as four, and five-bedroom semi-detached villas. Read more:

Dubai’s real estate market offered rental yields of up to 11 percent in some areas, significantly outperforming global market averages during the first half of 2024. This remarkable ROI comes amid a broader trend of rising property prices and increased demand in the emirate, as revealed in the latest H1 2024 market report. Read more:

The surge in real estate prices was particularly evident in the villa segment of the market. Despite ongoing price increases, Dubai remains highly affordable compared to other luxury real estate destinations worldwide.

H1 of 2024 saw more than 43,000 property sale transactions in Dubai, amounting to nearly $34 billion USD. Read more:

The Dubai real estate sector recorded more than AED14.3bn ($3.9bn) of transactions last week, according to data from the Land Department. Sales dominated the figures, with AED9.47bn ($2.6bn), according to Land Department data. In total there were 3,168 sales transactions recorded between July 1 and July 5. Read more:

Listings of over $10 million properties have dropped 65.5% in the last year, as Dubai real estate continues to attract the world’s wealthy. Dubai’s luxury real estate market is experiencing an unprecedented shortage of high-end properties as demand from ultra-wealthy buyers continues to outpace available inventory. Read more:

Incoming high-net-worth individuals (HNWIs) are projected to invest a staggering $4.4 billion in Dubai property in 2024, representing a remarkable 76 percent increase from the previous year.

This surge in investment underscores Dubai’s growing appeal as a safe haven for the world’s wealthy elite. Read more:

Dubai’s commercial real estate market saw dynamic activity in 2023 that outpaced projections, with particularly strong demand witnessed in the office sector. According to the latest data from the DLD, the volume of office space transactions increased 34% compared to 2022, while the total value of these deals rose an impressive 48%. Read more:

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, says Dubai is a key player in global trade and Dubai continues to consolidate its status as a key player in shaping the future of global trade by providing world-class infrastructure and services for bridging markets across the world. Read more:

The surge in property leasing is leading to a spike in demand for property management firms. As many as 47,000 residential units are estimated to have been completed in Dubai in 2023, a whopping 50 percent jump from the approximately 31,000 residential properties completed in the previous year. Read more:

Net profit reaches $120 million, up from $39.26 million for the same period in 2022; Revenue grows 56% to $341.5 million.  In a statutory filing with Dubai Financial Market, the company said the increase in revenue “is attributable to an increase in property development revenue from sale of properties mainly due to higher construction progress in its development". Read more:

Forecast: an upward trajectory of property prices in the city, creating favorable setting for sellers & landlords. With limited new supply entering the market, the scarcity of available properties is expected to drive prices upward. As we prepare for 2024, the heightened demand for properties is expected to increase, owing to the launch of various new projects attracting investors from across the globe Read more:

UAE has over 220,000 millionaires, with a combined wealth of $1.2 trillion – and an expectation that this number will continue to grow, we anticipate continued growth in this category. Additionally, commercial properties, particularly office spaces in key business districts, have shown promise due to Dubai’s role as a global business hub. Read more:

Real estate experts tout lucrative investment strategy as Dubai’s population skyrockets, encouraging residents to buy off-plan as demand for rentals continues to surge. Off-plan investments offer a distinct advantage by enabling investors to allocate funds towards properties still available at their original prices. The flexibility of payment plans mitigates the impact of high lending rates, ensuring greater adaptability in managing finances. Read more:

The easy mortgage policies are giving a major push to the growing property markets in the UAE. Banks are wooing overseas investors with highly competitive fixed-term mortgage rates – as much as two percent lower than in other countries. A minimum document policy for non-resident housing loan applicants is another major incentive offered by banks for foreign nationals, attracting them in large numbers to seek both mortgages and Golden visas. Read more:

Popular areas, price increases and in-demand properties in Dubai revealed:  For those in search of affordable apartments, Jumeirah Village Circle (JVC) has emerged as the most popular area, offering an average sales price of AED893,000 and an ROI of 7.69%. Jumeirah Lakes Towers (JLT) has recorded the highest increase in price per-square-foot at a whopping 15.83%. Read more:

The market saw 176 high-end property sales that exceeded $10 million during the January-June period. Dubai made history in 2023 by becoming the world’s leading luxury property market, Knight Frank’s Destination Dubai 2023 report revealed. The surge in demand has also led to residential property sales prices across Dubai seeing a 17% average growth – and far more across the luxury end of the market. Read more:

Impressive growth in UAE’s key sectors: The transport & storage sector emerged as the highest contributor, adding AED21.79B to the GDP, experiencing a remarkable 10.9% growth compared to the same period in 2022. The construction sector showcased a 9.2% growth, reaching a total of AED36.3B. The accommodation & food services activities witnessed a 7.8% growth, while the finance & insurance sector achieved a 7.7% growth. Read more:

Chinese investors are also now investing in spacious housing units in prestigious areas such as Downton Dubai and Jumeirah Golf Estates, as against their preference for smaller studio and one-bedroom apartments in the pre-pandemic period. Interestingly, the report also highlighted the shift towards cash payments, with as high as 78% of buyers from the country currently opting for cash. Read more:

Real estate or property is more than just that asset up your sleeve or an appealing tick off the status quo. Ever since the pandemic, the UAE has seen a massive spike in ownership figures led by evolving consumers who continue to pave the way for a more progressive real estate boom. Read more:

The Dubai real estate market continues to see a surge in international demand as investors flock to the country to seek a safe haven, tax efficiency and positive investment returns, according to the report. Buyers from the UK accounted for the highest real estate transactions. Read more:

Dubai’s booming real estate market registered record quarterly and monthly sales reports in March. According to data collected, there were 29,323 real estate transactions in Q3 of 2023; furthermore, there were an unprecedented 11,597 units registered in March. Read more:

Dubai Financial Market profits hit AED35.6m in first three months of the year. Foreign investors maintained their strong presence through a market share of 56 per cent of trading value during the first quarter. Read more:

International higher education institutions in Dubai see enrollment numbers increase 8 per cent. Additionally, the number of international students choosing Dubai to complete their higher education increased by 12%, now comprising nearly a third of all students. Read more:

Banks in the UAE have strengthened their taxation and banking practices to add to their appeal to inward investment. The high-profile failures have prompted many to speculate on the possibility of a wider global banking crash and how it may affect other markets. Read more: