Dubai Weekly Property News Round Up – 25.06.22

Dubai Weekly Property News Round Up – 25.06.22

Hello,

I hope you have had a relaxing week. At Track Capital, we have been discussing the risk factors involved with different types of real estate investment, and the proactive steps investors can take to minimise that risk.

From performing rigorous due diligence checks to working out a secure exit strategy, if you are looking to invest and want to find out more about lowering the risk element, reply to this post and speak to us 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.

Episode 45: Property & the Human Battery Charger – Jo Lightfoot – 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.

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Property Headlines This Week

  • Dubai Property Market Still Increasing in Crypto-Based Purchases – Dubai has fast become one of the most popular destinations in the world for high-net-worth crypto investors, as more businesses in the city open themselves up to purchases in the digital currency. With the recent crypto crash testing the nerve of even the bravest investor, it is difficult to see why crypto-property purchases, inquiries and transactions are currently booming. It almost seems counterintuitive for investors to actualise their losses by removing their investment at a low point, doesn’t it? In reality, the process of setting the price of a purchase in fiat currency and then converting the funds to Bitcoin is proving to be a highly attractive one for HNW digital investors looking to lock in their wealth. Moving digital assets across to tangible ones such as property is a great option for those seeking to guard against further instability. Since crypto cannot be taxed or accessed without the owner’s consent, it is also viewed as something of a haven for people concerned with the effects of inflation.

 

  • Dubai Real Estate Transactions Valued at $544.5 Million on Thursday – Since the astounding recovery of the Dubai real estate market first initiated in 2021, it seems that every week a new record is broken in the sector as prices continue to climb and demand surges exponentially. In fact, the DLD reported that real estate transactions to the value of $544.5 million were processed on this Thursday alone. These transactions comprised 438 property sales, 118 mortgage deals and 18 gift deals, providing an excellent cross-section view of the strength of Dubai’s real estate sector, which is thriving in every area. Of the mortgage deals arranged, villas and apartments continued to take precedence with included 104 villas and apartments sold, worth AED747.86 million collectively. With innovative government support schemes and an incredible amount of potential for investors, this upward trend is definitely not expected to slow down any time soon.

 

  • New Dubai Developments Snapped Up Within Hours of Launching – In a breathtaking sign of market recovery, new Dubai development launches are once again seeing queues around the block, with developments selling out within the first few hours of launching. Shams Townhouses, which has been created by the UAE-based property developer Nshama and features over 200 units, experienced a sell-out weekend launch with over 100 investors lining up outside Nshama Sales Centre to claim the most attractive units before they disappeared. According to one buyer, a property sales manager, the queue and the buzz of energy from the crowd were reminiscent of scenes from Dubai’s last market boom, some eight years ago. Those lucky enough to get their hands on one of the well-priced units benefited from a fantastic payment plan with just a 10% deposit and staggered payment stages until the handover in 2024.

 

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.

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