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Gradual recovery of the real estate market continued in Q2 2021, consolidating the Q1 trends. Villa prices in Dubai increased by 27% in the second quarter of 2021. Prices increased most actively in the Jumeirah Park area. They are followed by Springs (24%) and Dubai Hills Estate (19%). Emirate apartment prices have also shown significant growth quarter-to-quarter. Palm Jumeirah (13%) was the leader, followed by Business Bay (12%) and Jumeirah Lakes Towers (10%). The demand for housing with large areas remains high. Villas in Arabian Ranches (19%), Dubai Sports City (14%) and Dubai Hills Estate (13%) are in the lead in sales of housing of this size. By the end of the second quarter, it became possible to talk about the return of large demand for apartments. Apartment rental prices have...

Palm Jumeirah showed itself best, with prices per square meter growing year-on-year from $ 3,713.6 to $ 6,286.1 Off-plan real estate sales (note:real estate under construction) quadrupled in July 2021. Analysts point out that such indicators are evidence of an active recovery in the real estate market in the United Arab Emirates. Sales figures for July were provided by investment advisory company EFG Hermes. According to the agency, the total transactions amount in Dubai real estate, excluding those related to the transfer of land, doubled last month. The comparison was carried out year-on-year. For the indicated year, the growth in the total amount of money spent on real estate amounted to $ 2.9 billion. Residential real estate is the locomotive of this trend, office real estate...

The current record for a villa value was set in July when a property in Jumeirah Bay was sold to a European buyer. At the moment, Palm Jumeirah Island in Dubai is not only registering new price records, but also showing the best house sales figures over the past 5 years. Such data is provided by the consulting agency Knight Frank. Faisal Duranni, Head of Middle East Research at Knight Frank, notes: “The booming premium real estate sector across Dubai is best reflected in the Palm Jumeirah, where the average transaction price has performed the best in the past five years, reaching 6,151. $ 9 per square meter. Moreover, from January to June, 19 out of 34 houses worth about $ 10 million for sale in Dubai were sold in Palma”. “Villas remain a highly sought-after commodity...

During the first six months of 2021, compared to last year, the residential real estate sector in Dubai showed 74% growth in cumulative transaction volume and a 113% rise in cumulative value. Dubai property market experienced a V-shaped recovery growth in the first half of 2021. The lowest point of the chart is located in November 2020, when the sector sank the most. With the cumulative number of transactions growing by 74% and their cumulative value by 113%, the market is ready to consolidate the trend in the second half of this year. Saddiq Farid, CEO of the Middle East's largest investment platform SmartCrowd, points out that a unique combination of positive factors has led to growth. On the one hand, the government introduced new and attractive visa regimes and schemes to obtain...

46,038 transactions totaling $ 44.41 billion were made from early 2021 to late July. Direct investment in real estate in Dubai from January to July amounted to $ 20.41 billion. There have been a total of 46,038 sales transactions since January this year, worth $ 44.41 billion, according to July report by Dubai Lands Department (DLD). Thus, the number of transactions increased by 43% over the same period last year, and the total value of transactions showed an increase of 68% over the same period. According to DLD, 17,979 new investors had entered the market by July. This is 69% of the total number of investors registered in the Emirate from January to July 2021. The list of the five most popular areas in Dubai for villa sales in July were: Marsa Dubai, Palm Jumeirah, Business Bay,...

Any company that intends to use technology in construction process must register with local government. Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, has signed a decree regulating the use of 3D printing technologies in the construction sector. This is aligning policy continuation of this industry sector and promoting technology in general. Dubai Municipality, the governing body of the Emirate, will be tasked with overseeing and regulating the introduction of technology into the industry and compliance with established rules. This information was shared by Dubai Media Office on Wednesday, the 4th of August. The new legislation is part of the overall Dubai 3D Printing Strategy announced in 2016. The goal of the program is to bring the industry to a point...

Online Property Finder platform reported 4,384 real estate transactions totaling $ 3.04 billion in a month. Real estate sales have broken a 12-year record, fueled by a surge in demand in the secondary market. This is superimposed on the overall recovery growth of the Emirates economy since the beginning of 2021. Dubai has registered 4,384 deals worth about $ 3.04 billion, according to Property Finder. Among the main growth sources are the communes of villas and townhouses in the following districts: Dubai Hills Estate Arabian Ranches Palm Jumeirah Dubai Hills MBR-city (Mohammed bin Rashid City) Apartment sector has grown in the following areas: Dubai Marina Downtown Dubai The Palm Business Bay Jumeirah Village Circle The monthly figures are not just the highest in...

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...