I hope you have had a pleasant week. Across the UK, this has been a week of reflection as the Nation sits in mourning for Queen Elizabeth II.
We are proud to have had one of the most beloved British monarchs at the helm of the Royal Family for so long and hope to honour her memory here, by expressing our gratitude for her long and dignified rule.
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
- A Strong Summer of Sales Leaves Rental Gains on the Increase – In the time between January and August this year, rental registrations have risen by 11%, a total of 250,000 contracts, marking the steady growth of Dubai’s population according to data from the portal DXBinteract. This population increase is part of the government’s master plan to make Dubai one of the most popular social and business hubs in the world. Unfortunately, this may dash the hopes of those keeping their fingers crossed for a rental market cool-down in the next few weeks. The CEO of fam Properties has echoed the same sentiment, commenting on the population increase as a significant factor in the upward trend of rental prices, especially since a high volume of new homes has been consistently delivered throughout the past nine months with no sign of a rental growth slowdown. Property investors are anticipated to make more and more use of the excellent new Golden Visa benefits in the coming years, further boosting rental demand.
- Global Recession Fear Will Not Touch Dubai, Say Experts – While fears mount around the world of a global recession, it appears that Dubai may rise to the challenge and, true to form, find a way to thrive despite adverse conditions. Experts believe that Dubai real estate will continue to demonstrate steady growth due to the government’s proactive response to the pandemic and its progressive policy updates designed to add stability to the property market. This will stimulate further investor confidence and result in more money being injected from overseas investors. Experts in analytics, business and economics have agreed that Dubai has become a force to be reckoned with, locking its position as a tourism, global business and financial hub and creating a haven for high-net-worth individuals. The combined effect of visa reforms, ease of transactions, growing transparency and investor-friendly policies will keep the Dubai real estate market buoyant while other international markets struggle.
- Short-Term Rentals Set to Be Boosted by FIFA World Cup 2022 – Dubai as a city is already incredibly popular as a tourist and traveller destination owing to its hyper-luxury lifestyle and world-class entertainment. Short-term-lets are an excellent way for investors to maximise their earning potential. The better the property and amenities are, the higher the earning power. Dubai is a close neighbour to Qatar, host of the latest FIFA World Cup, marking the first-ever global football event to be held in the Arab world. The influx of visitors not only from the Middle East but from all around the globe is anticipated to be massive as people come from far and wide to witness the games during the one-month-long event. Dubai’s close proximity to Qatar and its traveller-friendly set-up will undoubtedly make it a firm favourite among football fans. In this period, experts predict a rise in STL rental values as tourists flood in, particularly among the most popular communities and luxury hotels.
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.