The Dubai real estate market has not only successfully managed the global crisis caused by the pandemic but has managed to overcome the internal difficulties of the economy. For the first time in several years, house prices began to rise. Foreign investors and residents are not afraid of the cost of houses in Akoya Oxygen for expats; they are in high demand. However, other objects stay in the sales. Let's find out whether it is worth investing in overseas real estate in the UAE and why it is profitable.
The Main Trends In The Real Estate Market In Dubai
In the first half of 2021, the transactions exceeded $19 billion. In the same period in 2022, this figure was only 13 billion dollars. July and August show no less impressive results, which have not been seen since 2014. For a long time, the supply of real estate in Dubai exceeded demand, which kept prices down. In several areas, they even decreased, but the situation changed at the end of 2021. Since then, prices for apartments in Dubai have increased by an average of 2.8-4.5%. Specific growth depends on the popularity of the sub-community and the characteristics of the housing itself. According to https://www.axcapital.ae/, the price policy will likely stay the same by the end of the year. Analysts predict further growth in property prices in Dubai.
When buying a property, you will have to pay the following:
from AED 700,000 for one-bedroom accommodation;
from AED 1,500,000 for a two-bedroom apartment;
from AED 2,700,000 for a three-bedroom apartment.
The highest prices for villas in Dubai. They start from 6,500,000 dirhams. At the same time, the demand for free-standing households has doubled.
Is It Worth Investing In Apartments In Dubai?
A stable economy that has long been free from oil price fluctuations is attracting foreign investors. There are several reasons why investing in Arab real estate remains profitable:
1. The policy of the authorities contributes to the development of the market. For expats, favorable schemes for obtaining residence visas are offered, and the absence of taxation is another significant plus. You can own property while planning a move to Dubai or rent it out, earning passive income and not incurring a financial burden to the state.
2. Developed infrastructure. The largest city in the United Arab Emirates has everything you need for a comfortable life: developed transport, a wide range of leisure activities, and many social facilities.
3. Profitability. The benefit from renting UAE real estate can reach 6% per annum. If you want to sell an apartment, there will be no difficulties with this either since demand is consistently high, and with a reduction in development in the region, it will only increase.
Where To Find Apartments For Sale In Dubai
Those who value beach holidays should pay attention to offers in the Palm Jumeirah and Dubai Marina areas. If you are more interested in investment, you can buy a studio apartment in the Jumeirah Village Towers community. For retirees, a quieter suburb is suitable. In the Ax Capital agency catalog, you can find Dubai real estate for every taste and budget.