Dubai Property resurges

Dubai property resurges The overall market of Dubai property resurges  despite pandemic and deep business slump.

In the third quarter of 2021, there has been a tremendous upward trend in Dubai's real estate, showing14 percent increase in rents while luxury housing in posh areas has risen upto 30 percent . This upward trend is likely to be seen in the 4th quarter also.

In the wake of the Dubai expo, the visitors to Dubai followed by the T-20 cricket tournament have registered more than 500,000 visitors which is likely to increase in the next few months when the scorching heat of Dubai will be replaced with pleasant winter. It can be understood that areas close to Epo and cricket tournament will be flushed with more visitors causing a significant rise in rents for accommodations.

As per information data collected from different sources, the increased activity is being witnessed in Jumeirah village circle, Al Nahda, Dubai Silicon Oasis, where one can find affordable flats while luxury apartments can be found preferably for rent in Dubai Marina, Palm Jumeirah, City walk.

According to resources, the demand for property surge in Dubai owed to friendly policies of the Dubai GGovt for expatriates, return of foreign investments, holding of and return of international event after post-pandemic has generated an increase in sale/purchase of property and rental value showing significant growth in real estate deals.

The Dubai villas have been hot picks and favorites which are gaining much beyond expectations the last few months. These villas represent 13 percent of residential property in the Dubai residential market registering an increase of 3.1 % increase. The average annual per square feet of a residential property stands at 1020 dirham as against 894 dirhams in 2020 showing thereby a valuable increase in rental value.  

For long Dubai has been a hub of commercial, social, and economic activities rather tourists from all over the world throng to this region for the pleasurable trip and business deals which were previously obstructed by the worldwide pandemics.

Now all those suspended activities have been commenced with full real and valor to attract the visitors and this has caused the rise in real estate which is likely to continue with enhanced activities in the coming months.

Considering this fact the right time is for investment in real estate in Dubai with the hope to acquire the property for valuable gains as per their budget and demand and retain it for a few months for the highest possible gains.