I hope you have had a great week. Our director Nick has been busy visiting more stunning Dubai developments that are guaranteed to turn the heads of investors.
Dubai is an incredible and unique city with an endless amount of variation and a worldwide reputation for exceptional quality, with a host of government-backed incentives for property investors.
If you are interested in exploring Dubai as an investment option, reply to this article today.
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.
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Property Headlines This Week
- Dubai Property Market Continues to Sky-Rocket – This Wednesday has seen Dubai’s thriving property market reach another record high, with sales deals valued at AED 2.6 billion, approximately $708 million. This marks the latest impressive deal summary in what has been one of the emirate’s most successful years since its 2007 market crash. Over recent weeks, Dubai’s residential market has been going from strength to strength as more overseas buyers are attracted to the improved visa options and government-backed incentives to encourage investment in the city. To evidence this incredible growth, Tuesday’s residential deal value was itself 50% higher than that recorded just one day previous. Investors looking for a promising location for capital growth will find incredible opportunities in the Dubai property market right now.
- Year-on-Year Dubai Property Growth Now Approaching 12% – Experts at Knight Frank have put down rumours that Dubai is experiencing a house price ‘bubble’ and instead reaffirmed their analysis that the city has undergone a fundamental transformation in its real estate market since its infamous crash in 2007. Citing the government’s progressive handling of the pandemic and the excellent quality of life afforded to residents, making Dubai one of the most attractive cities in the world to live, work and raise a family, the company predicts an average price growth of around 12% year-on-year. This number is heavily boosted by the sale of villas and expectations of their continued popularity over the next 12 months, with apartment sales expected to contribute less to the 12% predicted average rise as buyers remain drawn to the space, quality and abundance of natural light as seen in the high-spec villas across some of Dubai’s most popular communities.
- First Half of 2022 Sees Dubai Rated World No1 for Hotel Occupancy -The Department of Economy and Tourism has announced that Dubai has now reached the top spot for hotel occupancy rates worldwide. They reported that hotel occupancy in Dubai averaged 74% in the first quarter of 2022. This is an impressive year-on-year increase of 12% in a city already well-known for its popularity among travellers and tourists. This year’s occupancy rate has so far consisted of over 7 million international overnight visitors, growing 183% in a year from the 2.52 million reported in the same period last year. All this is excellent news for the leaders of Dubai, who have taken extensive measures to ensure that Dubai is a world leader in business, tourism and hospitality. Dubai is becoming increasingly popular with investors for its introduction of fractional ownership, enabling investors to purchase either part or the whole of a hotel room. These deals often come with a host of unique incentives and attractive payment options.
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.