In 2022, according to Metropolitan Group reports, luxury property prices in the United Arab Emirates doubled, and sales increased by 130%, reaching Dh11 billion. The number of real estate purchase transactions in the country increased more than 10 times compared to the previous year, with the average transaction value being more than 4 million UAE dirhams ($1.2 million).
The COVID-19 pandemic had a significant impact on the real estate market in the UAE, resulting in dynamic growth across all housing segments, from economy to luxury. Investment attractiveness, wide business opportunities, the loyalty of legislation, and the availability of mortgage loans have become the main motivators for this growth.
The real estate market in this small emirate has become a focal point for global investors. According to the Dubai Land Department, there were over 61,000 transactions from January to June 2023, a significant 43% increase compared to the same period last year.
Earning income from rental properties has been quite popular in Dubai in recent decades. Renting in Dubai guarantees a return of 4 to 9 percent, according to analytical data in 2023. This area is developing rapidly every year. The advantage of investing in real estate is a high percentage of income, reduced risks, protection of capital from inflation, as well as favorable conditions for owners, and terms of concluding a contract. We will consider the key points that investors and tenants planning to invest their savings in UAE real estate should pay attention to.
When going on vacation to the United Arab Emirates, many people think about where and how to spend their vacation. This article presents to your attention the top ways to spend time in Dubai, one of the most luxurious cities in the United Arab Emirates.
Entrepreneurs from all over the world come to the UAE. They register their businesses there, obtain freelancer visas, and purchase real estate.
The real estate rental market in the UAE is breaking records year after year and has grown by tens of percent in 2023. The momentum will continue this year as the Emirates confirms its reputation as a global business hub. This factor, as well as tax preferences and quality of life, attract wealthy people around the world here, which increases the demand for real estate and rental rates.
Purchasing real estate abroad as one of the investment options is a fairly popular way of investing all over the world. Let’s take a look at the benefits of buying property in Dubai – land near the Persian Gulf.
Investment in real estate in Dubai has been a popular trend in recent years. According to Forbes, in 2022 alone, the number of transactions for the sale of residential, and commercial real estate and land in Dubai increased by 77%. It is currently the year 2024, and the prices are still increasing.
Buying real estate under construction is a popular decision among foreign investors. Off-plan projects provide more favorable investment conditions. In this article, we will talk in detail about the benefits of investing in such projects and how to avoid possible risks.
You may have already heard that you don’t have to pay income tax when you resell real estate. The yield on local real estate can reach 10% per year, while in London and New York, it does not exceed 4–5%.
We tell you how you can immerse yourself in one of the most popular, interesting, and profitable professions in the UAE. Do you want to be a realtor?
The Emirate of Ras Al Khaimah is becoming one of the most popular tourism and investment destinations in the Middle East.
The UAE resident visa is called Emirates ID. This is a plastic card with an embedded chip that contains information about the holder, fingerprint, and photograph. Today, the most popular reason for obtaining residency is the registration of a startup or investment.
An exciting story unfolded in Dubai in April 2023, demonstrating how investing in land can yield remarkable returns. Umar Kamani, the founder of the Pretty Little Thing brand, made headlines by purchasing a 7,500-square-meter plot of land on the island of Jumeirah Bay. Over just two years, this barren wasteland, devoid of any structures, skyrocketed in value, with every square centimeter becoming incredibly valuable. This wasn’t due to oil discoveries but rather because it was one of the last available plots in a prestigious location near the sea.
Today we suggest looking at this issue from a different perspective: let’s look at the benefits of working with an agency when buying and selling real estate in Dubai.
Price is the most volatile element in any market, subject to influence by various factors that can lead to unexpected consequences, often beyond the foresight of experienced analysts.
Dubai has secured its position as one of the world’s top ten cities in the 2024 World’s Best Cities Report. Notably, it is ranked as the best place to live, visit, and invest.
The journey of investors in Dubai often involves navigating through challenging mistakes arising from practical situations in a market marked by its diversity. Understanding the intricacies of property ownership is crucial, including different statuses such as freehold, 99-year leasehold for specific locations, and properties inaccessible to foreign investors.
In recent years, Dubai’s real estate market has witnessed significant development, setting remarkable records that have given rise to both positive and negative myths.
Developer Hussein Sajwani has amassed immense wealth in the real estate sector, employing unique promotions and leveraging his friendship with Donald Trump.
As of the beginning of the second half of 2023, 35% of projects in Dubai were commissioned behind schedule. The average delay in commissioning for new buildings was six months, with larger projects experiencing a lag of up to two and a half years. 41% of projects delivered at the wrong time are delayed for 10 years.
In 2002, the landscape of Dubai’s real estate underwent a significant transformation when the government of the United Arab Emirates granted foreign citizens the right to own property in Dubai. This move initiated a construction boom that attracted investors from all over the world. With the market recovering from the COVID-19 pandemic in 2022, the demand for real estate has increased significantly, with the weighted average price per square foot increasing by 10.26%, reaching AED 1,019.
The UAE residential real estate market continues to develop rapidly. Developers are launching new projects aimed at a premium audience. In partnership with Marriott International, MAG Group is constructing the Ritz-Carlton Residences. The opening event will be highly anticipated in Dubai.
In this article we will know about the origins of the electronic tourist encyclopedia in Dubai, exploring both its creators and the timeframe of its inception.
Bur Dubai and Deira are often confused, but both have many budget hotels and real estate options. Initially, the area in which Bur Dubai is located was the center of Dubai. However, today this area is located in the east of the city.
Among investors, Dubai and Abu Dhabi are the two largest and most famous cities in the UAE. Foreigners make up 85% of Dubai’s population, due to its attraction to expats. Abu Dhabi is often invested in by Emirati and neighboring Arab citizens. However, the Abu Dhabi property market may also be of interest to foreign investors.
How is the rental price for housing in Dubai determined, can the landlord raise it independently, and who regulates the price for apartments and villas.
About 80% of Dubai residents are renters, making buying an apartment for rental purposes a profitable investment. However, the Dubai real estate rental market has its own characteristics. Here, the rights of each party are equally protected: it is difficult to evict a tenant even after the end of the lease agreement, and landlords do not have the right to inflate the cost of services.
We continue to analyze the topic of expenses when moving to Dubai. In the previous article, we talked about the necessary documents and rental housing.
