As the real estate market is rapidly recovering from the turmoil experienced, Dubai is experiencing a new milestone of economic growth thanks to new investors and end buyers coming here from abroad.
The recent event with the project of a well-known Dubai developer testifies to the increased activity of buyers. More than 200 units of Shams townhouses from the UAE developer Nshama, located on the Town Square, were snapped up by investors and end buyers within a few hours after its launch.
A new boom in the real estate market
Dubai real estate is undergoing an active recovery after the pandemic. Foreign entrepreneurs, in turn, tend to the city in search of a safe haven for their savings.
According to the latest data published by the Dubai Land Department (DLD), 6,651 real estate purchase and sale transactions totaling 18.3 billion dirhams were made in May 2022 - a record May figure in terms of the volume and value of real estate sales over the past 13 years. This means an increase in sales volume by 51.5% year-on-year and an increase in the cost of sales by 65.4% compared to May 2021.
In addition, high demand comes from new buyers of real estate who seek to get a «Golden Visa».
