Prime Property in Dubai
Dubai is the place to go if you’re looking to invest in high-end property. You can discover the ideal home in many different areas, whether you want to live in a huge house for your family or an apartment in a high-end complex. The city’s increased demand for off-plan properties means you may anticipate a healthy return on your investment.
Strong interest has been shown in pre-construction homes
Dubai’s off-plan real estate market has seen strong demand in recent years. There has been a rise in the number of first-time buyers who are interested in purchasing a property before it has even been completed.
The United Arab Emirates (UAE) has seen a rise in demand for residency due to the country’s generous policies and the government’s golden visa program. The luxury real estate market has also experienced a revival thanks to this comeback of investor enthusiasm.
The same is true for pre-construction homes in Dubai, where demand has far outstripped supply. The USD 1.3 billion in off-plan purchases in August was the biggest monthly total in the past two years. Square footage is being included in apartment units due to the rise in demand, and this trend is expected to continue.
Pre-construction real estate sales in Dubai are expected to rise further in 2019. The gradual but steady increase in prices seems here to stay. Price declines may result from global headwinds.
There are still many great possibilities for investors to purchase property in the emirate, despite the rise in off-plan home prices. High-quality goods not only give families a safe place to live but also generate steady profits over time.
Builders are prioritizing health and environmental concerns
In Dubai, the real estate market is increasingly prioritizing health and well-being. The rising awareness of the significance of one’s immediate surroundings is a key factor in this development. A recent study found a favorable association between the design and features of buildings and individuals’ sense of well-being.
Sustainability and health programs are included in high-end construction projects. All of these initiatives have one common goal: to make people healthier and happier.
Delos, a worldwide wellness real estate company, is collaborating with the Dubai Land Department (DLD) to design and construct buildings that encourage healthy living. They are combining scientifically-based policy with appropriate technology to improve public health. The forthcoming Tranquil Wellness Tower by the business will have 60,000 square feet of facilities dedicated to wellness.
Increasing tenant retention is a primary goal for developers, so they are including sustainable and wellness features in new construction. Among these measures is the deployment of charging stations for electric vehicles. Developers that include such features in their projects can help the UAE achieve its green goal while also encouraging a sense of community among residents.
The ROI is greater than 3%
The rate of return on luxury real estate in Dubai is among the greatest in the world. The return on investment is higher than in New York or London, averaging between 5 and 8 percent annually.
Dubai offers one of the highest returns on investment (ROI) in the world, as reported by the Global Property Guide. The city has the lowest price bubble risk while still providing high quality.
While the return on investment for purchasing a brand new property in the emirate is significant, investors are also attracted to the possibility of shared ownership of Dubai properties. Analysts anticipate that prices will rise further as capital continues to flood into the market.
The high-rise apartment complex Jumeirah Lake Towers in the center of Dubai is one of the best places to invest in real estate in Dubai. Amenities such as health clubs and entertainment centers are available to residents.
Improvements in 2021
The luxury real estate market in Dubai is expected to rise further in 2021 and beyond. Many other things have contributed to this result. Low mortgage interest rates compared to the US create a promising economic climate for homebuyers in the UAE. In addition, there is a persistent influx of international consumers and investors in the area.
Even though Dubai’s luxury real estate market has been on the upswing recently, it hasn’t even come close to reaching its pinnacle yet. The recovery will remain precarious as long as supply continues to outpace demand.
However, the current interest in purchasing a home is largely the product of pent-up demand, which should increase prices. Expats, wealthy foreigners, end-users, and international investors are the main drivers of demand in the Dubai real estate market.
The market has recovered strongly, with price increases of over 40% during the past 12 months. The number of transactions worth $10 million or more increased to 22 in 2018, per a report by Knight Frank Middle East. However, the luxury property market has a dearth of available properties.