A significant number of homeowners in the UAE have found themselves becoming "accidental millionaires" as property prices surge across the country. Recent analysis by global real estate consultancy Knight Frank reveals that nearly 20% of homes in Dubai are now valued at over $1 million. Knight Frank’s study highlights that many homeowners who originally purchased properties for under $1 million are...
Dubai’s real estate market is poised for another year of price increases in 2025, following a remarkable 20% surge in 2024, according to Knight Frank. Residential property values are forecasted to rise by an average of 8% next year, while luxury properties are expected to see a more moderate growth of 5%. This continuous upward trend has significantly boosted the number of million-dollar properties in...
The demand for branded residences in Dubai is anticipated to drive a significant price increase, with industry projections estimating a surge of 10-20% above the current average price of $1,769 per square foot. Certain prime locations with waterfront access, iconic brand associations, or exceptional service levels could see prices soar by as much as 25%. Dubai's branded residences are...
Dubai’s real estate sector has emerged as a global leader, outperforming renowned markets like London and New York with remarkable returns. Offering an impressive 7% gross investment yield, Dubai outpaces New York’s 4.2% and London’s 2.4%, making it an attractive option for investors seeking consistent rental income and capital appreciation. Year-on-year, Dubai's inflation-adjusted property...
The UAE’s non-oil economy is anticipated to expand by 4.7% in 2024, according to a report by Michael Bolliger, Chief Investment Officer of Global Emerging Markets at UBS Global Wealth Management. This growth highlights the UAE's strategic economic diversification and its resilience in navigating global challenges through fiscal surpluses and adaptability. Bolliger emphasized that the UAE's non-oil...
The amended laws in Dubai introduce notable changes, including a new mortgage fee and an extended registration period for off-plan properties. These amendments aim to enhance the property transaction process while aligning with the region's evolving real estate landscape. Changes in Mortgage Registration Fees The Dubai International Financial Centre (DIFC) announced revisions to its Real Property...
Arada has started the development of the highly anticipated Armani Beach Residences at Palm Jumeirah, setting a new standard in ultra-luxury living in Dubai. This branded residence project, crafted in collaboration with Armani/Casa Interior Design Studio and renowned Japanese architect Tadao Ando, promises panoramic views of the Arabian Gulf and Dubai’s iconic skyline. Partnership and Design...
For the first time, Dubai's real estate market has achieved an unprecedented milestone, with total sales exceeding Dh50 billion, as per data released on Thursday. This landmark achievement reflects the city's thriving property sector and its growing appeal to investors worldwide. Unprecedented Growth in Sales Transactions According to the latest report, sales transactions skyrocketed to 19,605,...
Brazilian football superstar Neymar Jr. has taken a remarkable step into the upper echelons of Dubai’s real estate scene by purchasing a prestigious AED 200 million penthouse at the Bugatti Residences by Binghatti. This acquisition is part of a growing trend where global celebrities increasingly turn to Dubai for ultra-luxury living spaces. The Bugatti Residences, a landmark development branded by...
