Credits: www.bayut.com
Dubai’s real estate is at a 12-year high right now. Here is all the information you require on recent changes in the real estate sector.
According to a research by ZZEN Properties, Dubai’s third-quarter off-plan and secondary property sales volume and value reached a 12-year high.
The UAE’s residential real estate market is anticipated to be significantly impacted by the World Cup in Qatar in 2022, which is about to get underway.
Due to its prominence as a tourist destination worldwide and its proximity to Qatar, Dubai will be the preferred location for World Cup visitors before, during, and after the event.
According to projections, the demand for lodging in the UAE will increase by up to 40% as more people visit and invest in the city.
High Net Worth Individuals (HNWI), who are looking for luxury properties, will make up a sizeable share of World Cup visitors, according to the survey. Mid-market purchasers are also anticipated to choose to invest in Dubai real estate.
“During the World Cup, more than a million tourists are anticipated in Qatar, and this will result in a tremendous flow of travelers into nearby transit hubs like Dubai. Since hotel occupancy rates in the emirate are anticipated to be above 90% and Q4 performance should be comparable to that of the Expo 2020, the residential real estate market in the UAE will benefit from this, according to Madhav Dhar, Co-Founder and COO of ZZEN Properties.
Many travelers passing through Dubai will purchase real estate either for their own use or as investments. Although real estate prices have increased in the UAE, average apartment rents have increased by 27 percent, demonstrating the long-term attraction of real estate as an asset. The most sought-after apartment types by buyers of both calibres have been one-bedroom, two-bedroom, and three-bedroom ones. These buyers will also compare products to those of European quality, placing a priority on sustainability and amenities for local communities, the speaker continued.
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