Dubai was recently recognised as the top regional destination and the fifth best city to live in by the World’s Best Cities report for 2023 Dubai’s property sector is experiencing a significant surge, according to Unique Properties, a real estate agency in the emirate. Recent data reveals substantial growth in both the residential and commercial markets during the second half of this...
AI-enabled proptech firm sees transactions rise 46% this year The Dubai real estate sector is projected to experience a 4.1 per cent growth rate in Q2 2023 and a surge of 46 per cent in transactions compared to 2022, according to recent research. Property prices have seen substantial increases, particularly in areas like Palm Jumeirah and Trade Centre First. The market’s growth is supported by a...
The emirate’s transport infrastructure, tourism hub credentials and pandemic recovery are main drivers of investment, Knight Frank says Global high-net-worth individuals (HNWIs) plan to spend $2.5 billion on Dubai property this year, a report has found. About 22 per cent of the HNWIs are prepared to commit $5 million to $10 million on real estate in the emirate, while...
More than 3,100 Dubai real estate transactions as $2.5bn change hands The Dubai real estate sector saw 3,105 transactions, worth AED9.1bn ($2.5bn), this week. In the week ending May 19, the Dubai Land Department said 191 plots were sold for AED1.14bn, and 2,284 apartments and villas were sold for AED6.03bn. The top three transactions for land a plot in Island 2 sold for...
Dubai property market continues to flourish with massive increase in value and volume of real estate deals Dubai saw $9.3bn (AED34.2bn) of property sales last month, according to data published by Property Finder. The number of real estate deals climbed around 45 per cent year-on-year to more than 12,000 transactions compared to 8,344 in March 2022. The value of transactions increased beyond...
The most recent massive transaction in the United Arab Emirates' luxury market involved an apartment in the Baccarat-branded residences. One area of Dubai's real estate market is becoming more and more popular with wealthy people looking for somewhere to hide their money: flats and townhouses with a brand name, such as Four Seasons, Bulgari, and Cavalli. As foreign purchasers continue to acquire...
According to Kearney's 2023 Foreign Direct Investment Confidence Index, the UAE is the top rising market in the Middle East and North Africa and third overall, behind China and India (FDICI). According to the ranking, the fourth-ranked economy in the Middle East is Qatar, followed by Saudi Arabia in sixth place, Egypt in fourteenth place, Turkey in fifteenth place, and Morocco in sixteenth. To give...
Yes, these extended notices are being issued by landlords and property owners as a result of Dubai's extraordinary demand for developed property. These property owners/sellers want to make sure that after a contract is signed with the new buyer/tenant, they won't have to wait around for the property to be vacated by giving 12-month notices. Due to the high demand, villas in Dubai that are "empty on...