Dubai Weekly Property News Round Up – 24.09.22

Dubai Weekly Property News Round Up – 24.09.22

Hello,

I hope you have had a great week. At Track Capital, we have been discussing the incredible variety of residences that are available in Dubai. From luxury villas to smart city apartments and country homes surrounded by parkland, there is something for every taste and budget.

If you would like to explore our Dubai portfolio to find your own perfect match, click here.

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 46: From Real Estate Boom to Bust and Then Back Again – 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

  • Apartment and Villa Sales Continue to Fuel Dubai Property Market – Zoom Property Insights have released their latest figures, showing the seemingly unstoppable trajectory of the Dubai property market. The data for both apartments and villa sales volumes have revealed incredible growth, with their year-to-date combined value now totalling Dh160 billion. On a monthly basis, the villa segment continued to trend upward in August with 1,380 sales transactions recorded. This signifies an almost 30% increase in sales volume was recorded month on month, with the sales value increasing by 3.5% from July 2022. Zoom Property Insights marked August as a record-breaking month with 9,720 sales valuing Dh24.3 billion. The firm has predicted that 2022 will end on a strong note for the Dubai property market, noting its dominance over other comparable cities across the globe and its continually record-breaking figures.

 

  • Analysing the Incredible Rise of the Dubai Property Market – The CEO of the Dubai-based RANGE International Property Investments has given his prediction for the city’s future real estate prospects. First launched in 2017, the investment company has become a leading specialist in local market analysis and today includes a 100-strong team of investment advisors. According to this company, the technological advances that Dubai has undergone in the past decade have set it up beautifully to stay at the cutting edge of some of the most prominent sectors. Combined with the extraordinary lengths the Dubai government has gone to in creating one of the world’s most attractive business and real estate hubs across the globe, it is clear that the record-breaking highs of the Dubai market are only set to continue as time progresses. Now is the perfect time to capitalise on what is arguably one of the most promising markets to be seen anywhere in the world.

 

  • New Off-Plan Developments Urgently Needed for Growing Demand – With ever-increasing heights, the past two years has made even the most cynical analyst question whether there is any stopping the rocketing Dubai property market – but have we found the answer? It seems that stock availability may prove to be the limiting factor set to finally cool the market, as high and mid-end properties are coming onto market less and less. Current home owners in these ranges have little to no incentive to sell as any capital growth would likely be swallowed by the much-higher prices of the tier above, should they wish to upgrade. Now that the Golden Visa has been reinvigorated, more people than ever are looking to settle down for the long term, making it even less likely that more stock will suddenly come flying back to market. Perhaps the hope now rests in off-plan developments filling the supply-demand gap and once again boosting sales both locally and for the ever-interested overseas market.

 

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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