Dubai Weekly Property News Round Up – 19.08.23

Welcome back to the TrackCapital Weekly News Round-Up. I hope you’re having a great week.

The UK is having a fantastic week, returning to form, with strong improvements in inflation, interest rates, and energy prices. These all signal a better future, as the recent volatility of the market returns to sustainable, reassuring growth.

Dubai is showing ridiculous growth, on the other hand, breaking all kinds of records and proving some of our theories right about what comes next.

Now, let’s take a look at all the headlines that caught our attention this week…

Episode 65: Riding the Property Wave: Unravelling the UK’s Housing and Rental Price Rollercoaster

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Remember, you can also listen to this week’s newsletter on the podcast as well.

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Dubai Sets MORE Records: Following some incredible sales figures last week, Dubai’s real estate market sets a record $60bn in sales in only a 7-month period. Experts are attributing this development to increased transparency in the sector and continued growth in travel for both recreational and professional reasons in the UAE.

With sales exceeding AED 216bn, investors’ confidence in Dubai continues to rise with an increasing sentiment that its position as one of the world’s “investment hotspots” is well earned.

Dubai is famously easy to do business in, and it’s clear that this strategy emboldens both infrastructure projects and investors who want to expand their portfolio in high-quality, cutting edge property in Dubai.

Dubai Outskirts Finally See the Growth They Deserve:  So we know the Dubai market is growing, but one of the clearest indicators of the sustainability of this growth is development on the outskirts. While the mega-projects and amazing skyscrapers speak of great wealth, the development of the Dubai outskirts speaks to resilience and robustness.

Apartment prices on the outskirts of Dubai are being snapped up, with record growth and sales volume, suggesting that the boom continues all the way out. Investors stand to gain incredible capital growth on these properties, which are increasingly connected to the expanding metropolis.

Despite slower growth in the past, secondary districts are now being realised as the under-valued investment opportunity they have always been. Continued success in Dubai’s market only promises further growth in these cheaper, faster-growing sectors.

Remote Workers Flock to Dubai’s Lifestyle EnvironmentOne of the most potent developments for Dubai’s travel and professional infrastructure developments is the continued development of the remote worker sector.

Many professionals seek the connectivity and opportunity of Dubai’s thriving business market with remote work, while experiencing cheaper rental conditions than their home countries.

The combination of increased opportunity, easy business dealings, and outstanding property at a low price continues to draw in remote workers in record numbers.

That’s all of this week’s most important news. If you’ve got any comments or questions about any of these headlines, hit reply and we can go over the details or implications for your portfolio.

Otherwise, I’ll see you next week for your property market round-up. Have a great weekend!

Tobi Mancuso
Director, Track Capital

Listen to The Pure Property Podcast from Track Capital here

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