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...
Branded residences have emerged as a hallmark of Dubai's Luxury real estate landscape. Since the debut of Armani Residences in Burj Khalifa in 2010, the city has solidified its position as a global leader in this sector. According to Global Branded Residences (GBR), the market has surged by 122% in the past five years, propelling Dubai to the forefront of branded residential development. Branded...
Emaar Development has reported a 56% increase in property sales during the first half of 2024. The company's sales has grown to US$20.2 billion, which is expected to contribute significantly to future revenue. Sales reached AED29.7 billion (US$8.1 billion), up from AED19 billion (US$5.2 billion) in the same period in 2023. This performance is largely attributed to the successful launch of new...
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's prime luxury home market is expected to remain robust, with experts predicting significant developments over the next few years. Rising Demand for Luxury Home in Dubai Dubai has seen a remarkable surge in real estate demand from both local and international investors. This trend is largely fueled by high-net-worth individuals choosing to relocate to Dubai, pushing its luxury market ahead of...
