News

From the beginning of 2021 to the end of July, 46,040 transactions totaling $ 44.42 billion were made in the Dubai real estate market. The Dubai Land Department (DLD) said in its housing market report for July that from the beginning of 2021 to the end of July, a total of 46,040 transactions worth AED 163 billion had been made in the country. This led to an increase in the number of transactions by 43% and an increase in their cost by 68%, respectively, as at the same time in 2020. The Dubai Land Department also noted 17,980 new investors in July, the number of which amounted to 69.0% of the total number of investors in the housing market from the beginning of 2021 to the end of July. The top 5 best areas for sale of villas in July by value include Palm Jumeirah, Business Bay, Burj...

According to the latest analysis by Knight Frank, sales and prices for real estate in Palm Jumeirah have reached the highest level in the last few years, which was facilitated by high demand from wealthy buyers of luxury homes. The average transaction prices for residential properties on the artificial island amounted to AED 2100 ($571) per square meter in the second quarter of 2021, which is the highest level in the last 5 years, the consulting company Global real estate reported. The premium location also accounted for more than half of the multimillion-dollar homes sold during the first half of the year. 19 of the 34 houses worth more than $10 million sold in Dubai between January and June were located on the Palm Jumeirah. Buyers are particularly interested in buying villas, as the...

Transaction volume growth in the housing market for six months reached 74% year-on-year. According to the report on residential real estate in Dubai published by SmartCrowd, the volume of transactions increased by 74% year-on-year, in particular, thanks to the boom in the growth of the value of transactions to 113%, which, of course, indicates an increase in prices. The state policy to introduce attractive schemes for obtaining visas and residence permits for investors and professionals is beginning to bear fruit. Incentives to support entrepreneurs and the private sector, active security measures to combat COVID-19 and a far-sighted attitude to events such as Dubai EXPO 2020 have increased investors' appetite for Arab real estate. The director of the DFSA investment platform said that...

Dubai real estate sector is once again in the spotlight as one of the most popular real estate markets, where new individuals and investors flock to purchase luxury properties. Dubai Real Estate Market Report for the 1st half of 2021 has been recently released. An analytical real estate brokerage company reported that in the first half of 2021, the number of properties sold increased by 70% compared to the same period last year, and by 52% compared to the first half of 2019. Favorable economic climate in Dubai has boosted interest in Arab real estate and has led to active investment in residential properties over the past six months. According to preliminary forecasts, prices for Arab real estate will rise for at least another 2 years, with the US Federal Reserve System reporting that...

“Fast and effective government responses, cost-cutting business reforms, and timely stimulus packages helped accelerate economic growth and increase business and investor loyalty to Dubai during the crisis,” Sheikh Hamdan said in his speech. The announcement was made at the 2021 First Half Business Achievement Report hosted by the Business Registration and Licensing (BRL) Sector of Dubai Economy. “Strong growth and development of business sector reflects Dubai's ability to turn challenges into success. Many members of Dubai's ruling elite are convinced that crisis situations, if properly managed, successfully create new development opportunities. He also stressed that Sheikh Mohammed's vision has helped the UAE and Dubai in particular to successfully cope with the...

Residential rents in Dubai's upscale and coastal areas could rise by around 10-15% during the upcoming Expo 2020 as millions of people both from overseas and the UAE will overwhelm Dubai for half a year. Dubai real estate analysts and executives expect affluent neighborhood supply areas such as Downtown Dubai, City Walk and Bluewaters Island to see rents rise. This is due to the fact that during the exhibition there will also be several entertainment events that no one has seen before. In addition, in areas adjacent to the exhibition area such as Dubai South, Dubai Investment Park, Jumeirah Golf Club, etc., there may also be an increase in rents due to higher occupancy rate for a mega event. Dubai-Expo 2020 will bring millions of visitors to Dubai from October 2021 to April 2022.

Prices increase for villas outpaced other properties in Dubai in the second quarter of 2021. Quarterly apartment price index in 2021 increased by 1.7%, but decreased by 4.8% compared to last year. In contrast, villas have headed the growth in residential property prices ​​in Dubai, compared to 7% QoQ and 6.3% YoY. In its latest report, ValuStrat said the residential property price index increased by 3.8% in the second quarter of 2021 from the previous quarter, with most neighborhoods recovering from last year's losses. All villas areas and communities are seeing quality improvements that have not been seen since 2014. The largest annual capital gains were recorded at Arab ranches at 10.3%, Jumeirah – at 9.1%, Dubai Hills – at 9.0%, the lakes – at 8.2% and The Meadows...

Real estate transactions in Dubai have been valued at 5 billion dirhams since the beginning of July, and their total number has reached 1921 residential units sold. 135 plots were sold for 716.18 million dirhams, and 1,298 apartments and villas for 2.54 billion dirhams. Al Hebiah Third recorded the highest number of transactions at AED 75.96 million, followed by Hadaeq Sheikh Mohammed bin Rashid at AED 126.23 million and Al Hebiah at AED 91 million. The three leaders in apartments and villas sale included apartments sold in Marsa Dubai for 345 million dirhams, in Burj Khalifa – for 280 million dirhams and in Palm Jumeirah – for 196 million dirhams. The amount of mortgaged property was 2 billion dirhams, the highest of which was land in al-Qusais sold for 276 million dirhams,...

Palm Jumeirah has become one of the largest regions for the sale of villas and apartments in the first half of 2021. More and more profitable real estate investors and buyers are showing interest in properties due to the unlimited possibilities that the island has to offer. Up-to-date sales data just underlines the attractiveness of the emirate as a preferred destination for real estate investments worldwide. The resilient real estate sector in Dubai continued to see strong growth in investment, with 5,359 transactions totaling over AED 11 billion already registered in May. More than 11,300 new investors entered the market, accounting for 66% of the total number of registered buyers since the beginning of the year. In May, 6,021 real estate transactions were registered in the amount of...

One of the largest developers in Dubai and Abu Dhabi reports global real estate sales growth of up to 107% Reportage Properties is one of the largest developers on Dubai real estate market. In 2020, sales reached AED 812 million, an increase of 125% from 2019. In 2021, strong sales reflected the high efficiency and attractiveness of the company's projects. 12.0. 2021 Reportage Properties reported that revenue growth was 107% or AED 704 million due to high activity from foreign buyers amid fears of rising property prices. Islam Ahmed Suleiman, CEO of Reportage Properties, said strong sales in the first half of this year reflect strong performance and attractiveness of the company's projects, as well as the strength and stability of the UAE real estate sector and its vast opportunities...

Data from Property Finder, a real estate information portal, showed that there were 27,373 transactions in Dubai in the first half of 2021, worth AED 61.97 billion compared to 35,041 sales of AED 71.87 billion in 2020, the best real estate business in the past eight years in terms of sales. Positive dynamics Arab real estate segment is showing an upward trend across the board. The average property price in Dubai increased by 1.3% in March 2021. This is the first annual price increase that has been recorded since the beginning of 2015. Since the market bottomed out in November 2020, prices have recovered and surged 7%. Shopping sentiment in Dubai has improved, partially thanks to its successful anti-coronavirus policy. Foreign investors and buyers have begun to take an active interest in...

Dubai real estate sector will maintain a positive momentum in the second half of 2021 as visa reforms, a successful Covid-19 vaccination plan and government measures to boost the economy drive demand and manage oversupply. Analysts and experts said that the segment of villas is currently in more demand than that of apartments. In this regard, prices will increase up to 5% in the forecasted future (presumably from July to December). According to Haider Tuaima, the head of the oversupply research department, the positive dynamics in the market, which began in the third quarter of 2020, due to the general positive sentiment in the real estate sector and competent decisions of the government in the field of stimulating the growth for property demand, will continue until the end of...

In June, the Arab real estate market in Dubai maintained stable demand for premium-class housing. It was here that the most transactions worth more than 10,000,000 AED were recorded. In total, 111 transactions were registered in this segment in June, which is slightly lower than in May – 117 transactions, but still indicates a confident recovery of the market. On a monthly basis, sales jumped by 43.7% and increased by 174% compared to June last year, when buyers first drew attention to attractive real estate transactions against the background of quarantine measures. In June, a total of 2,419 unscheduled transactions were registered, which is 43.3% more on a monthly basis. Completed facilities in June 2021 amounted to 62.1% compared to 37.9% for unscheduled facilities. This...

Villas account for about 13% of the residential property market in Dubai. Since 2020, it is this segment of luxury real estate that has seen the largest price growth - up by about 7% each quarter and an annual increase of up to 6.3%. According to the latest data, prices of villas in Dubai continued to rise in the second quarter of 2021 due to increased demand from investors and buyers of finished homes. 10.3% of the annual record was recorded in the luxury villa niche, giving Dubai a boost to make up for last year's capital losses. According to an analytical report by ValuStrat, sales in June surpassed those of May by 68%, while sales of finished homes rose by 75.5% month-on-month, while registration of unscheduled orders (contracts) increased by 59.5%.

Leading real estate analysts in Dubai note the undeniable growth and development of the Arab real estate market caused by foreign buyers. What is happening on the market cannot be called anything other than evolution: people buy houses for living, then rent them out for several years, and then move to larger objects, creating a mature real estate cycle. In June, Dubai's robust real estate market continued its rapid recovery, with prices rising by 2.1%, which was the eighth monthly surge in a row, as the number of transactions reached the best indicators since December 2013, when 6,389 transactions were registered. Average prices in June were 928,848 AED for apartments, 1.7 million AED for townhouses and 3.4 million AED for villas. Despite the undeniable success, the market recovery...