I hope you have had an enjoyable week. At Track Capital we have been discussing the growing popularity of high-spec Dubai apartments as they are performing very strongly in the current market, particularly those in coveted communities.
If you are interested in premium Dubai apartments that have the best location, amenities and travel connections, contact us today for access to our exclusive off-market opportunities.
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.
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
- Taking a Look Into The Future of Dubai – Looking at Dubai now, it is almost impossible to imagine that 60 years ago the city was an arid desert town with a population of just 40,000. Dubai’s transformation has been nothing short of visionary. With a current population of 3.3 million and a 170-fold geographical expansion since 1960, Dubai is now set to become one of the most popular places to live in the world. The concept for Dubai’s development incorporates some of the world’s most cutting-edge technology, state-of-the-art architectural masterpieces and an incredible plan to terraform the desert into green parkland on a massive scale. In future, plans for the city include the doubling of green spaces, with over 50% of Dubai’s total area devoted to National parks. Green corridors will be woven throughout the communities, allowing nature to thrive and eco-friendly public transportation will be accessible to all.
- Now is the Time to Invest in Dubai, and Here’s Why – There is no doubt that Dubai’s property market is in the midst of a momentous upswing after what has arguably been one of the most unprecedented times in living memory. While the global pandemic saw many world economies falling to their knees, Dubai’s progressive handling of the disaster marked the beginning of the city’s prolific v-shaped recovery which is now well underway. New residents from far and wide have been flocking to Dubai as a safe haven from the draconian methods employed by many countries to control the viral spread. With an incredible luxury lifestyle on offer, government-backed tax breaks for property both investors and developers, and a range of incredible visa options available, there has never been a better time to invest in Dubai. According to AX CAPITAL, 2022’s year-to-date explosive sales are currently surpassing last year’s excellent sales records in transactional volume by almost 100% month-on-month.
- AED 1.8 Billion Recorded Real Estate Sales on Thursday – The Dubai property market has continued to break records every month since its dramatic recovery in the middle of 2020. Sales transactions continue to go from strength to strength as more people choose Dubai as their preferred place to live, work, raise a family and safeguard their wealth. Data published from the DLD has revealed that this Thursday saw 414 sales transactions taking place, totalling approximately AED1.19 billion. There were 101 mortgage deals recorded to the tune of AED216.02 million and AED477.33 million generated from 19 gift deals. The massive push in the purchase of both upmarket villas and high-spec apartments, particularly those located in premium communities, generated AED 736.06 million in sales deals on Thursday alone. It is clear that Dubai’s popularity among both domestic and foreign buyers is growing rapidly, with all signs suggesting this market explosion will continue for a number of years to come as Dubai’s development continues to shock the world.
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.