.. The Dubai Real Estate Train set off

Waleed Al , Zarooni

17 April 2023

To all those who are waiting for the slowdown in the rise in real estate prices in Dubai this year. You have no more time, take the opportunity, the sharp momentum has prolonged demand, and prices are rising.

As evidenced by the unprecedented investment development, facilitation of business setup and visas, Dubai's strong real estate momentum on the demand side will last longer, enhancing the chances of higher prices and thus additional gains for real estate investors.

In its latest report, property consultancy CBRI says: "There are no signs of any calm in the Dubai real estate market, and any hope that the price curve will start to decline this year is a wrong assessment, as the market continues to shine."

According to the report, Dubai's rental market continued its upward trend this year, with average rents rising by 28% during the first two months of 2023, and average rents for apartments and villas in the emirate rising by 28% and 26.3% respectively.

The momentum of demand for Dubai real estate coincides with the demand of foreigners to the emirate, due to the government's policies in dealing with the outbreak of the Corona epidemic, and visas.

Therefore, everyone who bet on real estate investment in Dubai won this bet, with the profits of some exceeding 100% of a year

(Corona 2020) until the end of the first quarter of this year 2023.

Meanwhile, government data released shows Dubai's increasing attractiveness to wealthy foreigners aspiring to settle down and invest in all commercial activities, especially the booming real estate sector, which is achieving record profits, and ease of buying and selling, as the market matures and reaches the best international standards.

This was reflected in the fact that Dubai's real estate sector is generally showing signs of positive and sustainable growth, having succeeded in proving its resilience, attractiveness and ability to deepen investor confidence, at a time when we have witnessed exceptional circumstances with the world.

In turn, real estate transactions exceed AED 2021 billion per day, in a strong indication of the continued state of momentum and exceptional performance that began since late 100, and this is a strong evidence of the increasing investment attractiveness enjoyed by the sector, as Dubai real estate sales have achieved more than AED 100 billion in <> days since the beginning of this year, according to data from the Land Department.

According to the data, total sales achieved strong growth during the first quarter of this year, exceeding the barrier of 87 billion dirhams, compared to about 55.5 billion dirhams in the same period of 2022.

This comes after the sector in the emirate ended an exceptional year in 2022, achieving record results worth more than half a trillion dirhams for the first time, with sales accounting for half worth 265 billion dirhams.

Therefore, the investor or buyer who is late in making his decision to complete a real estate transaction in Dubai, is losing gains that he could have made in the period in which he was delayed, as the price index is still in an upward trend, and under internal and external conditions and factors, it seems that it will continue to rise and reach new peaks.

WalidAlzarooni @

walid.alzarooni@gmail.com

Chairman of W Capital Real Estate Brokerage

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