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Des: Daily record in the property market in Dubai. Commercial property trends and the short-term rental market in 2023 in Dubai UAE.
There is a really high demand for real estate in Dubai from international investors and buyers from different countries. If you are considering Dubai as a permanent residence or would like to earn real estate income, then you need to know how to navigate the market. Experienced specialists will advise you on all issues of interest and help you choose the right property for you. And in our article, you can observe some of the recent trends, sales records, and details about the rental market in Dubai. After reading, you will be able to invest in housing in Dubai, in properties in some of the luxury real estates complexes like Stella Maris Tower, or Riviera Mbr in the UAE.
Daily Record in the Property Market
Today, housing professionals can analyze the sales that were made in the current month. And such an analysis of the reports provided by specialists from the DLD revealed incredible results.
- It is reported that on June 16 this year, the DLD registered 293 real estate transactions for a total of AED 917 million.
- Also on this day, 92 transactions were concluded with the use of mortgage lending. Their total amount was AED 294 million.
- Another 16 properties were donated as part of a donation agreement, reportedly worth AED 47 million.
The most popular type of housing was villas and apartments; they were sold for an amount of AED 816 million. The remaining AED 101 million was used to purchase land. With regard to transactions with mortgage lending, 80 villas and apartments were sold, as well as 12 land plots.
Commercial Property Trends
A few months ago, a boom in residential real estate began in Dubai. Buyers from all over the world, despite skyrocketing prices, bought up various properties in the city – from small studios to luxury villas.
Against the backdrop of such growth in demand, the commercial real estate sector also pulled itself up. Experts say that over the past few months, the popularity of commercial property has increased by 21%. This is due not only to the value of assets in the United Arab Emirates but also to the unique location of the state.
The fact is that Dubai is located at the junction of international trade routes, as a result of which the UAE is excellent for international trade. In the context of the disruption of established supply chains and crisis situations, many companies seek to relocate to the UAE or open a branch in the emirate, which will allow them to establish logistics and continue to conduct international business.
Commercial real estate is another investment opportunity in one of the most attractive countries in the world. The purchase of commercial real estate is also available to citizens of foreign countries, and in some cases, such investment becomes more profitable than the purchase of residential housing.
Short-Term Rental Market
Dubai is an amazing city in terms of housing investment. Here, investment solutions for short-term leases, long-term leases, as well as the purchase of real estate with a view to subsequent resale are equally popular. (thedentalspa)
The specialists report that the number of investors who prefer to make money on short-term rentals increased by 13%. At the same time, there is a noticeable trend in the number of contracts concluded for trusted management of housing. This means that housing owners use the services of special management companies that:
- Search for tenants,
- Draw up documents,
- Collect payments,
- Pay utility bills, and
- Keep the property clean and tidy.
This trend indicates that more and more real estate in the city is being bought by citizens of other countries who are considering the potential opportunity to move to the United Arab Emirates, but at the same time want to start earning income from the housing. And today, for citizens of many countries, real estate in Dubai is the most attractive investment solution.
Experts report that the most attractive areas for short-term rentals are:
- Jumeirah Village Circle,
- Dubai Marina,
- Creek Harbour.
Construction legislation in the UAE is designed in such a way that construction companies are required to complete buildings, so it is safe to buy housing. The experts included Emaar Properties, Meraas, Nakheel Properties, and Select Group among the most reliable developers.
Real Estate in Dubai
Do you need to buy property in Dubai for investment or a personal residence? Emirates.Estate website is already ready to advise you on issues of interest, as well as find the best solutions for you. If you are interested in real estate in some of the most popular areas of the city, please contact the specialists at Emirates. According to their website, they will select for you the best properties that will allow you to receive maximum income.