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Rental rates for residential real estate will grow by 10-15% in several districts of the city. Expo 2020 will begin on 1 October 2021 and will run for six months. Millions of people from all over the world will visit the UAE and especially Dubai, the venue for the event. Based on this, a preliminary analysis of the market was carried out and a list of both generally popular and coastal areas of the city, where the demand for real estate will experience strong growth, was selected. This demand will lead to an increase in rates by 10-15%, depending on the area. These figures are pointed out by Firas Al Msaddi, CEO of Fam Property. The list of locations that will experience the most growth is as follows: Downtown Dubai City Walk Bluewaters Island Dubai South Dubai Investment...

Real estate purchase and sale prices in Dubai increased by 6-20% in the first half of 2021 Sales and rental rates for real estate in Dubai in the most popular areas of the city showed a significant jump in growth in the first half of this year. Not least, such indicators have become possible thanks to the active policy of the Emirate authorities to stimulate demand. Among the measures taken by the Dubai regulatory authorities are the expansion of the Golden Visa program, the ability to register a foreign business in 100% ownership without the participation of local representatives, remote registration of visas and residence permits, a successful vaccination campaign and the easing of quarantine measures. According to a joint report by Bayut & Dubizzle, real estate for sale in the...

Real estate prices in June reached the level of $2,707.2 per square meter, and two-year records were set for the purchase of villas in traditionally popular and developed areas The residential real estate sector in Dubai continues to recover after a decline in 2020 and in June showed an increase of 2.1%, reaching a price per square meter of $ 2,707.2. According to the Property Monitor market analysis platform, the Emirate is experiencing a two-year growth record. Having reached lows in November 2020, real estate prices increased by 12.7% by mid-2021, however, the distribution of growth across the Emirate turned out to be uneven. So, it is the villas in the traditionally popular areas with buyers that have shown stable growth, while the apartments are still in a rather weak condition...

A range of government measures are fundamental to investor confidence. According to the current sector indicators, experts expect that the achievements and market records in the first half of 2021 will continue to push the market up, supported by success of the fight against COVID-19, visa reforms and government measures to support the industry and combat overproduction and market oversaturation. Villa segment is performing especially well, significantly outstripping the growth rates of the apartment segment. This should give rise in prices by 5% in the period from July to December this year. Haider Tuaima, head of real estate research at ValuStrat, explains: “Depending on the evolution of the COVID-19 pandemic, the second half of the year may continue the positive trends that...

Consulting company Mortgage Finder reports growth in average mortgage loan amount by 24% compared to the second half of 2020. Dubai mortgage market is showing signs of recovery as covered loans doubled between the second half of last year and the first half of this year. The company points out that 40% of all real estate purchase and sale transactions in Dubai were completed with some degree of mortgage. Ian Vaughan, Senior Mortgage Advisor at Mortgage Finder, points out: “The increased market activity can be confidently explained as a consequence of the major credit policy reform introduced by the UAE Central Bank in early 2020, which allowed banks to increase lending by 5% reducing deposit requirements from 25 to 20% for those who take out a loan for the first time. The reforms...

A recent survey of the mood of tenants and homeowners showed that only a third of respondents believe that the fall in prices will continue in the next 12 months The mood among tenants and property owners continues to improve, and an increasing number of people are strengthening their opinion about ending the prolonged trend of falling prices. This trend began in 2015 and significantly worsened last year against the background of the COVID-19 pandemic. The cost of real estate, especially elite, reached historical lows by the summer of 2020 and only in 2021 began to gradually grow. Only 34% of respondents agreed that real estate prices will continue to decline in the next 12 months. At the beginning of 2021, the share of respondents was 47%, and it was 74% a year ago. According to a...

International media company DMG Events announced the organization of The Big 5 Summit at the Dubai World Trade Center (DWTC) on 12-15 September. The Big 5 will take place face-to-face and will try to bring together the largest construction companies in the world to determine the industry development strategy in 2021 and subsequent years, in the “post-covid era”. This year, the summit will mark its 42nd anniversary as the largest and most influential industry summit in the MEASA region. The event will host over 1,000 exhibitions from 45 different countries and an additional 20 large exhibition pavilions from a corresponding number of countries. One of the most important traditional reasons to organize such a summit is to attract attention and push new business projects and...

More than $4 billion worth of properties were sold in one month The market in the emirate recorded its "busiest" month with buyers in the last 8 years. Despite the ongoing COVID -19 pandemic, buyers and investors continue to come to Dubai to purchase apartments and villas. A total of 6.388 transactions were completed in June 2021 with a total value of $14.79 billion ($4 billion). The last time the industry observed such figures was in December 2013. Property Finder, Dubai's largest online property analytics platform, reported on July 6 that the number of deals in the year to May had increased by 44.33% and their value by 33.2%. A total of 15.638 deals were completed in the second quarter of this year, with a combined value of 36.86 billion dirhams ($10.03 billion). Combined with Q1...

Dubai is one of the most popular travel and business destinations in the world. Its rich history, cultural diversity, convenient and modern infrastructure, and a developed resort and residential real estate market attract millions of tourists every year. Its advantageous geographical location, booming trade and technology sector, and many corporate perks attract some of the largest companies from S&P500. The emirate is considered an investment hub in the Middle East with the safest investment environment in the region. According to statistics provided by the World Population Review source, in 2021, 85% of Dubai’s population is made up of foreigners with varying levels of wealth. The city occupies significant positions in the top global rankings of investment attractiveness....

Such indicators were last recorded in Q2 2014 The Dubai villa sector continues its upward trend in Q2 2021. The main interest for buyers and investors is in the finished property segment. Villas account for 13% of the overall residential real estate market, with a growth of 7% quarter-on-quarter and a growth of 6.3% year-on-year. Dubai's main districts recorded an annual growth of 10.3%, offsetting losses in 2020, according to consultancy ValuStrat. The agency's report showed that the number of transactions in June 2021 increased by 68% compared to May. Sales of finished properties increased by 75.5% compared to the previous month. The number of contracts for the purchase of off-plan properties (Oqood) increased by 59.5% (off-plan projects are those that are in the construction or...

Dubai real estate market is one of the top places in the world when it comes to investment attractiveness. Local property owners receive high incomes from both the leasing and selling of higher-priced assets. This article describes the main features of this sector. This is the basic information needed by every investor interested in real estatein the emirate. The content of the article: Why invest in Dubai? What should you look out for first? How to find a high-return offer? Finished properties and "off-plan" – advantages and disadvantages General tips Why invest in Dubai? Dubai stands out from other developed real estate markets in a number of ways: Among the many advantages of the city, the high rental rates, compared to other developed markets, are...

Real estate valuation determines the real value of a property based on its condition and market indicators. A valuation includes: Property quality and condition of the land on which it is located; The value of real estate; Average rental rate; Market, investment, and cadastral value; Dynamic indicators. The content of the article: Purpose of property valuation Documents needed for real estate valuation in Dubai Cost of evaluation Implementation procedure via DLD Services of third-party specialists Our services Purpose of property valuation Real estate valuation is the main factor that concludes sale and lease contracts in Dubai. It is necessary so that everyone can form their own opinion about the justifiable value of the property. The valuation process...

Danube Group expresses concern over impending freeze in emirate rents One of Dubai's biggest property developers believes the rent freeze is meant to help tenants, not landlords. In April 2021, Dubai Lands Department (DLD) announced an upcoming freeze on rental prices for the next 3 years this year. The government agency has yet to fully clarify how far the freeze will go and which areas and property types will be affected. However, the news has already sent many landlords across the emirate into a panic. Danube Group believes that rent growth should remain within the bounds of market movements and intervention in this process, such as the freeze, should only occur if the situation is getting out of control and harming tenants. The rental market in Dubai is already subject to a number...

According to reports, tenants are trying to keep rental prices high by providing less incentives to tenants and more often offering 13-month contracts with one free month of use In some residential areas of Dubai, property owners are trying to fix ever higher rental rates on the eve of the new law coming into force that will freeze the movement of rental prices in the Emirate for the next three years. The regulations proposed by the Dubai Land Department (DLD) were announced in April this year. The details of the bill are still not completely clear. In particular, it is not known whether the law applies only to new contracts or will also affect existing contracts that are due to be updated soon. There is also no information about which types of real estate the freeze will be applied to:...

The analytical agency Knight Frank indicates that in the first 6 months of 2021, more premium-class real estate was sold than in the whole of 2020 By July of this year, buyers have already bought 22 luxury residential properties with a total cost of 770 million US dollars. In 2020, only 19 objects were purchased. The trend of buying real estate in Dubai from 10 million dollars mainly indicates a global shift in the residential sector towards growth, given that the Emirate is showing the best results since 2015. Dubai has always been known for low prices for premium real estate compared to other world market leaders, so the growth in the Emirate allows us to predict changes in other regions. Knight Frank believes that the sharp increase is largely due to the government's successful...