I hope you have had a relaxing week. As the heat of summer starts to really gain strength in Dubai, so is the real estate market riding its own intense heatwave.
With every month that passes, the steep upward trend following Dubai’s remarkable recovery continues to climb at a frantic pace. We are now experiencing a huge influx of investors looking to make the most of this incredible market momentum.
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.
Remember, you can also listen to this week’s newsletter on the podcast as well.
We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.
Property Headlines This Week
- Dubai Property Deals in May Reach Highest Point in 10 Years – Dubai’s property market reached boiling point on Thursday, when on this single day, over AED 1.2 billion was recorded in real estate transactions by Mo’asher; Dubai’s own sales and rental performance index. Throughout May, the city was reported to have achieved a total of 6,652 sales transactions with a combined worth of AED 18.4 billion – that’s $5 billion. This marks May 2022 as having broken a 10-year record with the highest volume of real estate transactions since 2012. When compared to the same time last year, there has been an increase in sales volume of 51.6% and a rise in capital growth by a staggering 66.14%. So far this year, Dubai has continued to outperform last year’s property transactions every month, with the overall sales price index reflecting a strong and sustainable growth over the past two years.
- Indian Entrepreneurs Take Advantage of Dubai’s Golden Visa – A recent report from Henley Global Citizens estimated that by the close of 2022, some 4,000 millionaires will have migrated to the UAE. Their data suggest that a minimum of 8,000 high net wealth individuals will be relocating from India this year, with Singapore and Dubai as their preferred destinations for living. Most of these individuals will be looking at long-term visas for their stay, along with multiple entries and residency permits, as India doesn’t offer the option of dual citizenship. Those heading to Dubai have been attracted by Dubai’s emigration-friendly policies, along with the simplicity of starting a business and a 100% waiver on personal income tax. The country’s incredibly popular golden visa program has been utilised by several of India’s prominent tech entrepreneurs. This widely-celebrated scheme offers 100,000 golden visas to a wide variety of desirable candidates.
- Desirable Dubai Locations with Stunning Sea Views – Dubai is a city filled with a glittering array of residence options for every taste and budget, but one feature stands out from the rest with its allure for residents and tourists alike: A sea view – where golden sand meet hypnotic waves. So where do buyers flock to get their fill of sun, sand and sea? The top contender is Dubai Marina, with its luxury rentals, easy transport and high-class amenities. Palm Jumeirah is another popular choice; Dubai’s world-famous artificial palm-shaped island is known for its excellent tourist spots and unbeatable views. Another go-to choice for beach lovers is the relaxed and informal lifestyle of JBR, an action-packed destination where residents play hard and chill out in style. The next desirable sea-front spot on our list is Jumeirah, where high-class shopping and education make this the ideal choice for families. Last but not least, the prestigious Al Sufouh sits on the west coast of Dubai, tempting families and professionals with its jaw-dropping selection of activities and restaurants.
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.