Dubai is one of the fastest-growing metropolises in the UAE, as well as one of the richest mercantile and transport hubs on the globe. The conditions governing its real estate market are rapidly improving, especially in comparison to the last quarter. A plethora of factors have affected the prices of Dubai real estate such as various government measures, the investors who had formerly dismissed their interest have returned, and of course, the market has thrived substantially in recent years.
According to the latest Q3 reports, the scenery of the market has shifted dramatically for the better. The total of the transactions in Dubai has increased by 12% in comparison to the same season of the previous year.
Since we’re now entering the final stages of the season, a word to the wise – commercial areas are currently being swarmed. So if you’re looking to score on some business centres, expect tight competition. On the flip side, certain spots in the suburban districts are generally not under so much pressure, but even so, the demand is on an all-time high.
Certain hot-spot locations such as Dubai Marina and Palm Jumeirah are heaven for anyone in the real estate business. If you’re out there searching to buy or rent, these are the best areas to start with.
One of the main reasons why real estate has developed so much in Dubai during the last quarter is because the prices have nose-dived proportionately to the increase of properties put up for sale.
Out of all the places you could begin your treasure hunting, all the latest reports indicate that Dubai Marina, Palm Jumeirah, Downtown Dubai & Jumeirah Village Circle appear to be on the top of popularity in terms of sales.
Even the newer areas – such as Al Qudra, for example, offer incredibly affordable property investment opportunities.The USP of such new communities is that they offer a serene environment while giving easy access to the city centre - these are two of the main features why these areas are currently on the minds of the bulk of major investors.
According to Dubai Land Department, the off-plan sales seem to be rising, numbering more than 2,200 deals during the first months of summer. Moreover, this is the highest number of registered deals ever since December of 2017.
The Dubai government undertook dozens of proactive steps to keep the investors’ interests safe, ensuring that any possible business endeavor goes smooth. According to recent reports, these government-issued activities have had a big impact on the market’s stabilization, resulting in healthier market competition.