Real Estate Price Growth in Dubai: Trends and Prospects

In recent months, the Dubai real estate market has shown steady growth, reflected in the increasing prices per square meter.

According to Khaleej Times newspaper, in November 2023, the average cost per square meter of residential property reached $3460, which is 3% higher than the historical maximum recorded in September 2014.

What contributes to the rise in property prices in Dubai?

One of factors is the growing demand from investors and buyers attracted by the rapidly developing economy of the emirate and its appealing lifestyle. Dubai has established itself as a dynamic and cosmopolitan city, offering numerous opportunities for business, work, leisure, as well as a stable political and economic environment.

Another factor influencing price growth is the shortage of supply in the residential property market. Dubai's population is growing twice as fast as the supply of residential properties in the market. According to the Dubai Statistics Center, the city receives 100,000 new residents annually, while only 50,000 new properties are being constructed during the same period.

Another factor driving the demand for property in Dubai is the opportunity to obtain a residency visa in the UAE. Investors purchasing property worth $545,000 or more qualify for a 10-year golden visa, allowing them to live, work, and study in Dubai. Additionally, buying property worth $204,000 grants eligibility for a 2-year residency visa.

PURCHASING REAL ESTATE IN DUBAI:

Investors interested in buying property in Dubai have a wide selection of verified properties available in catalogs. They can also benefit from real estate specialists' services to help them find suitable properties and facilitate transactions.

It's worth noting that while investing in real estate in Dubai can be an attractive venture, investors should carefully weigh the pros and cons and seek advice from experts before making decisions. The Dubai real estate market is dynamic and subject to price fluctuations, so understanding potential risks and opportunities before making a purchase is crucial.