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Forecast for 2019: investments in luxury real estate in Dubai will grow

Forecast for 2019: investments in luxury real estate in Dubai will grow

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And the availability of real estate will provide a huge influx of new communities that are currently under construction.

According to the latest data from the Dubai Land Department, in the emirate’s real estate sector, total investment has increased to USD14 billion year-on-year. Add to this the latest decisions of the Dubai government on granting long-term visas to property owners in the UAE, and the investment prospects will become even more attractive, especially for those who are considering staying in the UAE for more than five years.

In particular, legislative initiatives by the leadership of the emirate are likely to become a stimulus for the growth of investment in premium residential communities that were previously inaccessible to many people in the UAE. The findings of the latest report of the portal on real estate Dubizzle Property show that real estate in the best, most prestigious areas has now become more accessible and is of greater interest among potential buyers.

According to the report, in particular, in the first three quarters of 2018, potential buyers of villas on the portal were looking for housing for themselves, first of all, in such five not-so-cheap communities like The Villa, Arabian Ranches, The Springs, Mudon and Palm Jumeirah. And this indicates that some decline in prices for elite real estate in these areas encourages more and more people to consider them as possible for housing, whereas earlier they would not even have thought to include these communities in their search area.

“In 2019, we expect this trend to continue, and we will see even more end-users who invest in premium real estate,” said Samir Abdin, CEO of Dubizzle Property.

In addition to increasing interest in resale real estate in prestigious areas, there may also be pronounced stabilization in the primary market, as demand absorbs all the new offers on the eve of Expo 2020. Available objects will make up a large part of the real estate market off-plan, as opposed to luxury real estate, in accordance with the influx of end users into the real estate market. Quality will remain a priority for home buyers, and international investors, especially Chinese citizens, will continue to show increased interest in the Dubai housing market.

Summing up, it can be expected that the primary real estate market will begin to stabilize on the eve of Expo 2020, while in the field of residential real estate investments, the market will be open to both end users and investors.

Source: https://imexre.com

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Aziz Kamekov

Leading Real Estate Specialist in Dubai
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