Dubai real estate: Luxury property market breaks another record as units sold skyrockets Dubai saw a spike in influx of wealthy investors from around the world post-pandemic Dubai has made a record in the luxury property market this year with sales of as many as 335 luxury units till July end, making 2023 the most successful year for this segment, a new market study revealed. Besides, a...
New report forecasts emirate to continue rally in second half of the year with growth between 6-7.9% Dubai led the price growth in the global prime residential market, recording gains of 11.2% in the first half of 2023. According to findings of the Prime Residential World Cities Index, released by real estate services provider Savills, the emirate emerged as the leader in average capital values...
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...
Project will add 110 kilometres of coastline to Dubai, featuring over 80 hotels, resorts Dubai: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the new futuristic development masterplan of Palm Jebel Ali. Spanning an area of 13.4 square kilometres and occupying an area twice the size of Palm Jumeirah, Palm Jebel Ali will...
Strategic communication is key for tenants to convince landlords or property management firms to reduce rents Tenants have to shell out more as rents have been on the rise in the post-pandemic period across the UAE. According to Property Finder’s first-quarter report, rents in Dubai jumped 18 per cent as compared to the same period last year. While average rental prices in Q1 2023 rose by seven...
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...
The changes extend the categories of beneficiaries while streamlining the eligibility requirements. The much-coveted visa allows its holders to stay outside of the UAE for as long as necessary without it having an impact on their residency. In the past, residents who spent six months or more away from the UAE forfeited their residency. Investors, business owners, remarkable talent, scientists,...