Dubai's inflation rate decreased to 3.32% in July, marking its lowest point for the year, despite continued increases in housing costs. According to the latest data from the Dubai Statistics Centre, inflation in the emirate has been driven primarily by rising housing, utilities, and fuel costs, which constitute over 40% of the consumer price index (CPI). Housing and Transportation Costs The costs...
Dubai has been recognized as one of the few global cities experiencing rapid growth in its property market. Over the past three and a half years, property prices in the emirate have surged with a significant double-digit increase. According to a global real estate report, Dubai stands alongside cities like Bangkok, Berlin, Stockholm, Hong Kong, Jakarta, Paris, and Warsaw, where property market growth...
A significant new development project, valued at AED 7 billion, has been unveiled in Dubai's Al Wasl District, focusing on the construction of luxury villas and mansions. At the forefront of this transformation is the AED 1 billion Nordic by fäm development, comprising 17 villas and mansions strategically located near Dubai’s Central Business District (CBD) and prominent lifestyle landmarks. This...
The real estate sector in Sharjah continues to show robust growth, achieving a trading value of Dh3.9 billion across various regions and cities of the emirate in July 2024. This data comes from the "Real Estate Market Performance Report" issued by the Sharjah Real Estate Registration Department. Transaction Volume and Market Appeal During this period, the total number of transactions reached 4,146,...
In the UAE, particularly in Dubai, there has been a noticeable increase in real estate developers offering more accessible payment options and incentives for off-plan properties. A recent initiative by a private Dubai-based developer introduced an extended payment plan that spans eight-and-a-half years, including five years of post-handover payment options. Dubai Real Estate: Rise in Sales...
Despite a slower start in early 2024, the UAE is set to remain the Gulf's fastest-growing economy through 2024-25. The International Monetary Fund (IMF) revised its GDP growth projection for the UAE to approximately 4% for 2024, up from its previous forecast of 3.5%. The UAE’s economy has consistently outperformed others in the Gulf region, driven by a robust non-oil sector. James Swanston, an...
Dubai Real Estate market is projected to add 25,000 new homes by the end of the year, as detailed in the Q2 2024 real estate report. Dubai’s strong economy and attractive lifestyle continue to draw expatriates. The sector's solid fundamentals are driven by high equity in the market, sustained economic growth, infrastructure development, and a growing population. Dubai Real Estate Q2 2024...
Dubai Real Estate landscape is undergoing a transformative shift, driven by technological innovation. PropTech solutions, encompassing Artificial Intelligence (AI), Augmented Reality (AR), Virtual Reality (VR), and the Internet of Things (IoT), are reshaping traditional property management and transactions. Virtual and Augmented Reality: Enhancing the Buyer Experience AR and VR technologies are...
Dubai Real Estate market achieved unprecedented growth in July 2024, with total sales reaching AED 49.6 billion, reflecting a 31.63% increase compared to the same period last year, according to a recent Dubai real estate market report. The number of transactions soared to 15,994, marking a 43.2% increase in volume from July 2023. Apartments in Dubai sales experienced the most significant growth, with...
