I hope you have had a great week. This week we have taken on several new projects onto our Dubai portfolio, which has given us another opportunity to explore more of the stunning and ever-evolving landscape of Dubai.
Looking back at Dubai over the past decade, its transformation has been nothing short of miraculous. From a sparse desert and fishing town to one of the world’s most dazzling destinations, this visionary city is now world-known for setting the highest standards for living and working.
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 having to click through.
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Property News This Week
2022 Real Estate Trends in Dubai – When looking back at the past year in review, it is undeniable that Dubai has experienced significant, even phenomenal, growth. Successful planning, implementation and a single-minded vision for the future that runs right through Dubai’s infrastructure has succeeded in attracting thousands of people from around the world. Dubai has become a renowned business hub, drawing in huge amounts of professionals now looking to put down roots in the emirates. Upcoming trends expected to play a prominent role in 2022 include a growing rental niche and the increase of digitalization as a way of smoothing out real estate transactions. Both Expo 2020 and the growing number of Dubai-based businesses have pumped new life into the rental market, with more overseas interest than ever before. Sustainability is also a growing factor in the planning and execution of master developments, with a heavy focus on eco-friendly practices aimed at achieving net-zero carbon by 2050.
- Strong Buyer Interest Supporting Dubai’s Property Market – The Chairman and Founder of D&B Properties has reported that 2021 saw Dubai property transactions hit Dhs300bn. This, combined with a great start for property sales in January and February, indicates a great trajectory for 2022. This success has been a long time coming, with the government executing their plan to bring about this shocking V-shaped recovery with pinpoint accuracy. From their impressive effectiveness of handling the Covid-19 crisis to the spectacular launch of Expo 2020, no stone has been unturned to show the world the perks of investing in Dubai. Golden visas, low entry prices and incredible quality of builds have further increased the buyer appetite for this remarkable city. It is now one of the top-performing economies in the world, with strong prospects for capital growth and annual yields between 5-9%.
- UAE Central Bank Rate Hike Could Increase Property Demand – According to the CEO of Allsopp&Allsopp, the UAE central bank rate increase may trigger a short-term increase in property transactions, as prospective buyers rush to make the most of the lower rate before it disappears. The Central Bank of the UAE rate hike will see those buying up-market, premium properties being the most affected by the change, especially those buyers who owe AED 7 million or more to the bank. It is expected that mortgage lenders will experience a sharp influx of applications as people jump into action to avoid paying more. Some property experts have also revealed to news site Arabian Business their prediction that the rate hike will help to slow inflation while having the knock-on effect of increasing profitability for banks and lenders.
- Now is the Perfect Time to Invest in Dubai Off-Plan Properties – Has there ever been a better time for investing in the UAE economy? Following Dubai’s shocking recovery last year, experts have predicted sustained economic growth for the property market throughout 2022. Over the past decade, Dubai has stuck to its ambitious plan to become the number one hub for international business and pursued this goal with an impressive drive. Overseas investors are flocking to Dubai’s warm shores, determined to make the most of all the unique perks on offer. These include generous tax breaks, visa incentives, a government proactively involved in supporting property developers and a lifestyle that is second-to-none. With an above-average score on the Safe Cities Index 2021 and world-class infrastructure, the UAE has also built a reputation for being one of the best places to raise a family and nurture a business. With so many stunning master developments with low unit prices and impeccable quality so near to completion, now really is the best time to invest in Dubai.
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.