Welcome to our latest overview of Dubai’s dynamic real estate sector. The city’s market is vibrant with high sales volumes and groundbreaking developments.
We take a look at how Dubai’s incredible growth looks to continue with the UAE 10 Year gold visa playing a big part in the growth. Take a look at the articles below and let me know your thoughts.
So, let’s take a look at the latest headlines that have caught our eye this week…
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Property News This Week
Dubai’s High-End Property Market Shows Remarkable Resilience In 2024
According to a Knight Frank report, the first half of 2024 saw the sale of 190 high-end homes worth $3.2 billion, nearly matching last year’s figures of 189 homes worth $3.3 billion. This occurred despite a staggering 65.5% year-on-year drop in luxury home listings in the second quarter. The steady sales numbers indicate a ‘buy-to-hold’ approach, with international high-net-worth individuals buying homes for personal use rather than quick resale.
Palm Jumeirah remains the most coveted, accounting for 26% of luxury home sales, while Emirates Hills and District One also saw significant activity. Notably, sales of homes worth $25 million or more surged by 25% from the first quarter to the second quarter, highlighting robust demand in the ultra-luxury segment.
UAE Golden Visa: Why more employees with 10-year residency buy Dubai properties –
The UAE professionals holding Golden Visa are increasingly buying properties in Dubai to beat rising rents as they intend to stay in the emirate longer, making sure they get a higher Return on Investment (RoI) by purchasing properties at a lower price.
The long-term residency visa is awarded to investors and professionals across various categories such as doctors, engineers in different fields, PhD degree holders, outstanding students, scientists and others.
That’s all of this week’s most important news. If you’ve got any comments or questions about any of these headlines, hit reply and we talk further about the market and your own property investment goals.
Otherwise, I’ll see you next week for your property market round-up. Have a great weekend!
