Dubai Real Estate News
Dubai’s real estate scene is still hiking, even though the cost of villas and properties is significantly increasing. People are still making purchases and experts predict that Dubai’s real estate market is going to enlarge more than 15% in 2024, by improving much more than that of other regions in the world.
Higher Prices in Dubai Real Estate
The price of apartments in Dubai has increased by 21%, since day one of the year. Even in a situation where the villas are still expensive with a very large 51 percent increase in price, people aren’t any less enthusiastic about buying homes.
Lots of Transactions and Investment
In just one week, the Dubai Land Department recorded over 3,200 property deals worth AED 24.7 billion. As Dubai is the most trusted in the real estate scene, people from within and around the city are investing in the market because it’s flourished so well until the moment. According to a recent Savills survey, there were about 60,000 home sales and purchases in the first half of 2023, a 44 percent increase over the previous year.
Expecting Growth When Others Aren’t
Dubai is keeping its momentum, and it’s expected to grow by 15 percent in 2024, while many other places are having a tough time. Dubai’s success is because it’s doing smart things and staying stable, even when the world is a bit shaky.
Renting is Also Affected
Similar to this, the price of renting a house has increased frequently by more than 50%. This has made some people decide to move to smaller homes. Numerous individuals still desire to purchase or rent real estate in Dubai, despite the rise in prices.
Why Dubai is a Safe Place to Invest
Arash Jalili, the boss of Unique Properties, says Dubai is a safe place to put your money. He thinks Dubai’s comeback after COVID-19 is because it’s doing things to make the city better and it’s not getting shaky like other big cities. While other places have problems, Dubai and the UAE are making themselves the best places to invest in for many years to come.
Wrap up
Even with the higher prices, Dubai is rising to its peak. Lots of people from around the world are buying and investing due to its stable and promising nature to put their money with high expectation. Dubai is heading higher and higher by being an ideal model to other places that are having a hard time.
