Hello,
I hope you have had a productive week. This week, we have been discussing the incredible success that the Dubai property market has experienced since 2019 and the likely prospect that, having still not reached its historic house price peak, the city is set to continue its path of exponential growth well into the next few years and beyond.
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Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.
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Property Headlines This Week
- Global Economic Pressures Unlikely to Impact Demand in Dubai –
In their most recent report, S&P Global Ratings has described the prospects for the Dubai real estate sector as stable and anticipate healthy growth. Globally, buyers are experiencing increasing pressure as mortgage rate hikes and steep inflation impact their spending power. However, the report revealed an expectation that Dubai-based real estate companies will continue to thrive amid continued de-leveraging and improved rating headroom.
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Record Price Hike Reported in Dubai’s Most Popular Areas – Real estate analysts have revealed that Jumeirah Village Circle, Business Bay, and Dubai Marina are the most popular areas for property transactions in Dubai as we head toward the second quarter of the year. February saw a total of 8,515 property transactions, marking it as a record-breaking month. Prices and demand are expected to rise this year, remaining buoyant despite outside global pressures, with strong support from foreign investors and HNWIs.
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UAE Luxury Property Sector Enjoys Record-Breaking Investments – Marking the significant growth of the past decade, Dubai’s real estate market set a new record for luxury property transactions last year, with 219 sales registered that were valued at $10 million or over. By striking comparison, only 11 comparable sales were recorded in 2010. There have been many factors contributing to Dubai’s success over the past few years, such as interest from Expo 2020 and the Qatar World Cup, both of which showcased the country’s world-class quality of living, combined with Dubai’s exceptional post-pandemic recovery.
That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected] – if not, see you next week.
