Hello,
I hope you have had a productive week. We have experienced unprecedented sales in the first Quarter of 2023 and anticipate that this will be a year to remember as we head into the summer months – a time well-known for strong market activity across the UK.
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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
- Dubai Investors Have Seen More Than 100% Profit Since 2020 – The CEO of UAE real estate brokerage firm W Capital has recently announced that those property investors who risked investing in Dubai on or before the start of 2020 will now have profited over 100% from their initial capital output, thanks to the incredible v-shaped recovery of the Dubai housing market. This is particularly true, he says, for those who invested in premium real estate. The Dubai real estate market is currently enjoying a significant boost of activity from high-net-wealth foreigners who are looking for luxury living, state-of-the-art business facilities and an investor-friendly tax structure to protect their assets.
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Foreign HNW Investors Increasingly Attracted to Dubai Real Estate – The latest data from Zoom Property Insights has revealed that three of the world’s most expensive properties were sold in Dubai last year, accounting for 30% of the total transactions in the luxury real estate segment & evidencing the strength and allure of the Dubai hyper-luxury real estate market. Every one of those properties sold was located in the stunning community of Palm Jumeirah, an area that has long held its place as the most popular choice for ultra-rich investors and HNWIs in Dubai.
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Dubai Foreign Investment Spike Drives Demand for Golden Visa – Last week, the DLD reported a weekly real estate transaction count worth over AED10.1 billion ($2.8 billion), with details revealing that certain prime areas of Dubai experienced a significant rise in value last year. One example of this is Palm Jumeirah, which saw a doubling of its real estate value in 2022. This heightened popularity for UAE property has been in part due to the emirate’s reformed visa process in 2021, which made it easier for foreign residents to apply for a Golden Visa. Since November last year, more than 100,000 Golden Visas have been issued, signifying a 35% boost from earlier in 2022.
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.
