Beating all the restrictions the realty sector in Dubai is back in the limelight presenting strong signs of sustained growth. The Dubai residential market shows that the prices were steady for some time but an increase has been witnessed in the modest price. Now Dubai is having a favorable climate for residential real estate.
Beating all the restrictions the realty sector in Dubai is back in the limelight presenting strong signs of sustained growth. The Dubai residential market shows that the prices were steady for some time but an increase has been witnessed in the modest price. Now Dubai is having a favorable climate for residential real estate.
Competitive Landscape: Neck-to-Neck Competition
The increasing competition in the real estate market is quite visible. With the relaxed laws, government initiatives, spending on infrastructure, several developers taking interest in the market, new projects entering, etc. are enhancing the market. Some of the preeminent players ruling the market are Emaar Properties, Damac Properties, Sobha Developers, etc. According to Shilpa DK, CEO of Arqonz.com said that market is on consistent growth, and in the coming years by 2024 the property prices will be appreciated amazingly.
Apartments Are Back In Game - Strong & Steering
The price of Villas and Townhouses in Dubai has reached beyond limits, but the most notable activity has been witnessed from apartments where investors have shown the maximum interest. A total of 77% in Q1 has been witnessed in the sale of apartments and a total contribution of 79% of all units sold in Q1.
According to DLD, the Total number of units sold by property type QoQ: 77% of an increase
Q1 2021- 6,672
Q2 2022- 11,835
According to DLD, Total sales value by property type QoQ: 146% of an increase
Q1 2021- 8,559,341,662
Q2 2022- 21,059,218,306
According to DLD, Average selling price changes QoQ: 15% of an increase
Q1 2021- 1,290,415
Q2 2022- 1,479,796
People are considering waterfront apartments moreover other and mainly international investors are looking for investments like this. Apartments have seen a total of 15% increase in selling price. In the coming time, it is expected that luxury apartments may see more growth than any other residential property, also they are worth for investors if they want to put them on rent in the future. You can earn some good income from the lease or can earn long-term rental incomes.
Rising Demand Of Apartments In Dubai: It Is Considered As Hot Property
Dubai is witnessing a constant rise in the prices and simultaneously the demand as well. Villas have very strong competition in the market and this is a good opportunity for the investors who are planning to invest in apartments as there will be less competition. Luxury apartment buyers especially in the central location of Dubai can ensure you about the good growth and chances for leasing because of the investors and the ex-pats that are planning to expand their investment zone this year.
In the coming few years and with the increasing ex-pat population, the demand for apartments is increasing. Apartments on lease are always an option in mind for the investors and the NRIs. With that, the influx of the technology sector and the change in UAE policies the demand for apartments in the coming years can be witnessed as encouraging.
Apartment buyers can expect good returns on investment in specific neighborhoods.
For unparalleled living, impressive living in skyscrapers, and high-end living, UAE appears to be heaven. Some of the popular areas to buy apartments in Dubai are Dubai Marina, Downtown Dubai, Jumeirah Lake Towers, Dubai Silicon Oasis, and International City. If it is about buying property in Dubai, then apartments are the foremost choice with these areas enjoying it at max.