Dubai Weekly Property News Round Up – 11.12.22

Dubai Weekly Property News Round Up – 11.12.22

Hello,

I hope you have had a fantastic week. The end of 2022 is approaching, and we intend to celebrate it in style with even more incredible incentives on our full range of developments. These offers can save you thousands of pounds and are flexible to suit your requirements.

If you are considering purchasing a property before the new year, speak to a member of our team today to find out how we can help you find a deal that really pops!

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 53: REWIND: Investing in a Limited Company? Meet GetGround – The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

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Property Headlines This Week

  • Market Analysis Shows a Strong Finish to 2022 Dubai Property Sector – Market analysts at Zoom Property Insights have predicted that the Dubai real estate market is anticipated to end 2022 on a strong note with 1.8% or similar price growth reported in both October and November. This growth has come from both property investors and home buyers, showing a well-balanced market with great prospects for sustainable growth to come. This year, both apartments and villas have enjoyed marked expansion, with the average price of villas jumping by 13% and apartments following close behind at over 8.5%. Heavy interest from HNW overseas investors has resulted in a particularly marked surge in luxury property prices, which have seen an 88.9% rise between Q3 2021 and Q3 2022. Prime communities such as Palm Jumeirah, Jumeirah and Downtown Dubai are anticipated to experience continued popularity in 2023.

 

  • Top Dubai Locations for Price Growth in 2022 and 2023 – As investors continue to focus on Dubai’s thriving market, property prices are anticipated to continue their upward trend well into next year, according to a recent report from Zoom Property Insights. Popular areas for investors have included the well-established MBR City and luxury residential neighbourhood Dubai Hills, along with the up-and-coming Business Bay area. Those in search of a villa have continued to focus on Palm Jumeirah and other prestigious communities, with HNWIs and overseas investors accounting for much of the success of Dubai’s prime residential market. Dubai topped both Miami and Tokyo for experiencing the biggest uptick in luxury property prices between Q3 2021 and Q3 2022 at 88.9%, making it number one in this category worldwide.

 

  • Dubai Real Estate Investors Set to Experience Excellent Growth – Despite many western real estate markets teetering on the brink of recession in the wake of the pandemic, the UAE has celebrated an all-time high in real estate values this year. Dubai has been considered the jewel in the crown of this achievement, with exponential growth driven by off-plan property sales. Seasoned investors are confident that Dubai’s success and plans for future growth point to strong capital appreciation ahead. Being one of the most attractive and visitor-friendly cities close to the Qatar World Cup, more people than ever are being drawn to Dubai’s golden shores. Year on year from October, the average property price shot up by 9.2% with villa prices rising by 13% and a total of 71,412 real estate transactions taking place. These figures mark a 12-year high for Dubai’s real estate growth and highlight the city’s dramatic v-shaped recovery since its infamous crash in 2007.

 

That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected]  – if not, see you next week.

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