Dubai’s property market continued its strong upward momentum in January as residential prices and rents climbed at the fastest rate since early 2015, latest data shows.The residential market recorded 80.2 per cent year-on-year growth in transaction volumes last month as off-plan and secondary market sales surged 187.5 per cent and 32.5 per cent, respectively.According to Dubai residential market snapshot...
A total of 2,098 real estate transactions worth AED4.5 billion ($1.23 billion) were recorded in Dubai during the week ending February 18, 2022, according to figures released by the Dubai Land Department. Some 252 plots were sold for AED1.1 billion, 1,437 apartments and villas were sold for AED2.47 billion, a WAM report said. The top three transactions were a land in Palm Jumeirah selling for AED60...
The first title deeds are being issued in Dubai under ‘fractional’ property ownership, which could dramatically add to the investor base in the local real estate market. In its simplest form, fractional ownership allows multiple investors to acquire an apartment, villa or other property types, and with each of them having ownership rights through the title deeds.Under the current rules, “A maximum of...
A new real estate index was launched on Tuesday, and leading it is the UAE.In response to unprecedented demand among global investors for alternative residence and citizenship options in the wake of ongoing turbulence and uncertainly caused by the COVID-19 pandemic, Henley & Partners in partnership with Deep Knowledge Analytics has launched the Best Investment Migration Real Estate Index.Leading the...
Each District 2020, the future vision of the Expo 2020 site, will develop a vibrant new urban community in Dubai and help promote economic diversification as well as benefit vital sectors of economy such as real estate, information technology and startups, experts say.The $8 billion new district, which is due to welcome its first tenants from October 2020, will pave the way for more human-centred, smart...
Each year, the UAE makes significant changes to its laws to make it easier for residents to enjoy life in Dubai. From pregnancies outside of marriage, to relaxed sentences for drug offences, here are seven new rules introduced in 2021 you should know about.Relationship lawsOn November 28, 2021, HH Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, approved amendments to more than 40 laws in the UAE,...
Dubai registered 84,196 property transactions worth Dh300 billion ($82bn) last year, which is the highest annual value recorded in the emirate’s history, the Dubai Land Department has said.The volume of property transactions in 2021 grew annually by 66 per cent and their value increased by 72 per cent, a statement released by the DLD on Friday said.The emirate recorded 5,601 property transactions worth...
Dubai This year, Dubai real estate is expected to sustain an upward trend despite Covid-19 variants causing uncertainty in the market as strategic government initiatives, visa reforms, resilient economy, and successful pandemic strategy will continue to attract global investors, experts say.The latest data indicates that lowering of loan-to-value ratios and business resilience have helped Dubai revive...
Dubai is a great place to do business and one of its most attractive advantages is the diversity of prime properties available for purchase. From lavish villas and fully-serviced apartments to premium penthouses – Dubai’s luxury properties’ portfolio is quite unrivalled. I have always maintained that there is no place in the world better to visit, live, work and invest than Dubai and now we see that...
Dubai’s luxury property market recorded the third highest price growth among global cities last year, consultancy Savills said on Thursday, with prime residential centres set to be a safe haven for investment in 2022. The city’s real estate market is expected to achieve capital growth of 4 to 5.9 per cent this year after growing 17.4 per cent in 2021, according to Savills World Cities Prime...