Dubai Weekly Property News Round Up – 23.04.23

Hello,

I hope you have had a lovely week and would like to wish all celebrating a joyous Eid Mubarak as you spend time with family and friends.

At this time in the year, we would like to take a moment to appreciate the incredible level of support we have had from our clients over the years and our hardworking team who are all integral to our ability to continue to serve you with integrity, diligence and commitment.

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 61: Where Should You Be Investing Right Now?

– 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.

We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.

Property Headlines This Week

  • Skyrocketing Real Estate Transactions Hit Dh157 Billion in Q1 – Dubai’s real estate sector continues to grow, with a total transaction value of Dh157 billion recorded in Q1 2023 – an 80% increase from the same period in 2022. The Dubai Economic Agenda D33 aims to increase private sector investments and maintain Dubai’s position as a global city. The Dubai Land Department has taken measures to support sustainable growth, resulting in real estate sales worth Dh89 billion in Q1 2023, a 62% increase from the same period in 2022. There were also 13,338 new investors entering the market in Q1 2023; a 12% increase from the previous year, with non-resident investors accounting for 45% of total acquisitions, a 25% increase from 2022.

 

  • Experts Cite ‘Pressing Need’ for More Homes to Ease Undersupply – Dubai’s population has grown by 69,000 to over 3.5 million in April 2022. According to experts, the city’s rising rental prices have caused residents to stay put, creating a shortage of vacant properties. Developers suggest that house hunters need to widen their search and look at less popular areas such as Sports City and International City, and the outskirts of the city on the Umm Sequim and Al Qudra roads, where new areas are developing. While these areas may require a longer commute, they offer more options for those looking to move. The property market in Dubai remains active, ranking fourth in the world for luxury residential markets.

 

  • Experts Say that Cash Investors Will Help Keep the Market Strong – Cash buyers and Chinese investors are expected to drive demand in the Dubai property market, according to a report from Morgan Stanley. With the majority of Dubai property sales conducted with cash and interest rates having little effect on prices, the report forecasts continued price rises this year, supported by investors seeking high returns and the resumption of travel from China. The city’s successful pandemic management and liberal visa policies have also attracted more foreign buyers, including wealthy investors from Russia, crypto millionaires, and Indians seeking holiday homes.


    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.

Popular Posts

The Impact of Major Events on Property Demand

Date: May 22, 2024

calculating roi

How To Calculate Buy-To-Let ROI

Date: May 21, 2024

best student areas in nottingham

The Best Areas For Student Property Investment In Nottingham

Date: April 24, 2024

blog post banner graphic

The Best Areas For Student Property Investment In Liverpool

Date: April 5, 2024

off plan property dubai blog graphic

Off-Plan Property Dubai: An Investor’s Pocket Guide

Date: April 5, 2024

best area for student property manchester graphic

The Best Areas For Student Property Investment In Manchester

Date: February 23, 2024

best buy to let areas in bolton graphic

The Best Buy-To-Let Areas In Bolton

Date: February 13, 2024

best buy to let areas in burnley graphic

The Best Buy-To-Let Areas In Burnley

Date: February 13, 2024

The Best Buy-To-Let Areas In Preston

Date: November 28, 2023

The Best Buy-To-Let Areas In Sunderland

Date: November 28, 2023

The Best Buy-To-Let Areas In Brighton And Hove

Date: November 28, 2023

How Much Deposit For A Buy-To-Let?

Date: November 28, 2023

How To Buy Off Plan Property In The UK

Date: October 27, 2023

Buy To Let In Cardiff: A Complete Guide

Date: October 27, 2023

Dubai Weekly Property News Round Up – 19.08.23

Date: October 18, 2023

Weekly Property News Round Up – 19.08.23

Date: October 18, 2023

Dubai Weekly Property News Round Up – 14.08.23

Date: October 18, 2023

Weekly Property News Round Up – 14.08.23

Date: October 18, 2023

Buy To Let In Leicester: A Complete Guide

Date: August 24, 2023

Overseas Investors in UK Property: Everything You Need To Know

Date: August 24, 2023

Why Are House Prices So High?

Date: August 21, 2023

Weekly Property News Round-Up 05/08/23

Date: August 5, 2023

Dubai Weekly Property News Round Up – 05.08.23

Date: August 5, 2023

Weekly Property News Round Up – 29.07.23

Date: July 29, 2023

Dubai Weekly Property News Round Up – 29.07.23

Date: July 29, 2023

Dubai Weekly Property News Round Up – 22.07.23

Date: July 23, 2023

Weekly Property News Round Up – 22.07.23

Date: July 23, 2023

Weekly Property News Round Up – 15.07.23

Date: July 16, 2023

Dubai Weekly Property News Round Up – 15.07.23

Date: July 16, 2023

The Best Buy-To-Let Areas In York

Date: July 14, 2023

Recent Posts

The Impact of Major Events on Property Demand

Date: May 22, 2024

calculating roi

How To Calculate Buy-To-Let ROI

Date: May 21, 2024

Get in touch with us by clicking below and submitting an enquiry.

if you have any questions or would like to inquire about our services, please click on the “Contact Us” button below to be redirected to our contact page. Our team is dedicated to providing exceptional customer service and will do their best to assist you with any inquiries you may have.