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.
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.
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.
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.
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.
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.
Long-term and short-term contracts between the lessee and the lessor are concluded without third-party witnesses and guarantors. Let’s compare the advantages and disadvantages of daily and long-term rental apartments in Dubai.
Real estate investment is a reliable way to save and diversify savings, and the UAE remains one of the most popular destinations for such investments.
Real estate rental in Dubai is a standard legal procedure, providing for legal payment and the conclusion of a formal contract. It is conducted in several stages and has a number of regional features that should be familiarized before arriving in the UAE.
Legislative aspects, the stability of the economy and the region’s security, location, ways of doing business, and cultural norms – when buying property in the UAE, it is essential to notice many non-obvious factors.
Jumeirah Village Circle (JVC) is a freehold community located in downtown Dubai. This prestigious district, which began to develop in 2005, is growing rapidly, offering excellent infrastructure and being a comfortable place to live for working people, families with children, and businessmen. Due to the large selection of luxury real estate JVC is extremely profitable for investors. The excellent accessibility of the area enables easy access to any other business or residential sector in the emirate.
The Emirate is taking major strategic steps to diversify its economy, aiming to increase the flow of people, companies, and investments.
Renting an elite villa in Dubai can cost $50,000 per day, while purchasing can cost more than $100 million. Let’s try to analyze the situation with prices in the UAE.
The possibilities of fraudsters have grown through technical progress. As a result, in many parts of Dubai, investors and landlordes are victims of real estate fraud. In this situation, it is always advisable to exercise caution and only turn to reputable companies.
If you want to visit a very special beach in Dubai then The Island Dubai is a good choice. This is the island of Lebanon from The World. This is an artificially raised island world off the coast of Dubai where the islands have the shape of the world.
From the Palm Islands to the tallest skyscrapers. There is no shortage of world-famous attractions in Dubai.
Thirty years ago, the territory of the United Arab Emirates was a lifeless desert with rare Bedouin settlements in the sands and squalid fishing villages by the sea. Then they found oil here, and today this Middle Eastern corner is like another planet.
For some they are important meeting places, for others the symbol of capitalism: shopping centers have always excited people. The Munich exhibition “World of Malls” invites you to take a journey through time through the world’s major shopping centers – with both positive and negative examples.
Once to Mars – many nations consider this to be the accolade of space travel. Now a new player is entering the stage: The United Arab Emirates wants to conquer the red planet. The small country on the Persian Gulf plans to put its first probe into orbit.
Eid al-Fitr marks the end of the holy month of Ramadan. We suggest what to do on non-working days in order to spend them rich and varied.
For many, the United Arab Emirates is a «desert department store», but not a destination for ecotourism. However, there are also amazing natural beauty and interesting nature reserves.
The UAE has built numerous golf courses, five of which are world-class 18-hole green fields. Dubai Emirate is a pioneer of golf in the Middle East. The Dubai Desert Classic Golf Championship, which has been held since 1989 on the golf courses of «Emirates» Club, became a shining event of sports life in Dubai.
80% of ex-pats have had a significant impact on culture and business practices. The specificity of each office is multinationality. All cultures of the world and dialects exist here. Living in Dubai, you do not…
Around the world, off-the-shelf properties are being sold at much more affordable prices than finished homes, and Dubai is no exception. And while the temptation to buy a home at a low price is great,…