Dubai Real Estate Is Hot, With A Rise of 50% in Off-Plan

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  • 1 month ago
  • Dubai Properties, Dubai Real Estate, Off Plan Properties,
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Dubai Real Estate Rise

A Lot Of People Continue To Be Interested In The Projects In Business Bay, Downtown Dubai, And The Dubai Water Canal.

Off-plan homes in sought-after areas of Dubai are in greater demand than ever with prices rising by nearly 50%. According to reports, Dubai off-plan market expanded by more than 130% in the first half of 2022.  Including over 130,000 units coming from almost 85 projects that had already been launched. Demand is unlikely to decline as the city continues to grow. Especially with the FIFA World Cup Qatar 2022 just around the corner.

Off-plan properties Dubai make wise and profitable investments. Developers receive funding for their project’s construction. In addition, buyers gain additional value after the handover phase of the transaction. The potential for long-term ROI should continue, according to Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ. Even though the market in Dubai is, hot right now in terms of both new projects in the pipeline and their costs.

According to Unique Properties, Business Bay, Downtown Dubai, and Dubai Water Canal continue to be sought-after locations. Where off-plan construction has recently sprung up. Aside from Downtown, there have also been new off-plan projects announced in highly desirable areas. Like Dubai Hills, Meydan, Nad Al Sheba, and Dubai Creek Harbour.

The Dubai real estate market reached a new high on Tuesday, with property transactions totaling more than AED 1.7 billion. According to data from the Dubai Land Department (DLD), there were 425 sales trades worth AED1.32 billion on Tuesday. 71 mortgage deals worth AED386.7 million, as well as 12 gift deals worth AED56.77 million. The sales included 22 land plots worth AED149.92 million and 403 villas and apartments worth AED1.17 billion.

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