What impact is Dubai's development having on real estate investment?
Dubai is a city on the move. Whether on the international political stage, economically or even culturally, the Emirates are developing very rapidly. But what does this mean for real estate? How is Dubai 's strong performance affecting investment? In the rest of this article, we'll tell you all about it, with some impressive figures to boot.
Dubai's impressive development
In the space of just a few years, Dubai has established itself as one of the most dynamic places in the world. And this is reflected in its demographics alone. In the first six months of 2023, more than 50,000 people moved to Dubai. A significant increase in population, which is set to continue. Between now and 2040, the authorities are forecasting strong demographic growth, with 7.8 million inhabitants!
How do you explain such appeal?
First and foremost, the economy. The arrangements in place in Dubai are very attractive. Entrepreneurs can easily set up and develop their business, with very low taxes and very high salaries. The economic boom in Dubai is undeniable, and more and more people are looking to move here to work and do business.
The second argument in favor of Dubai is the weather. It's warm and sunny all year round, with the beach and desert close by. So if you're looking to get away from the gloom, rain, wind, snow and low temperatures, you've come to the right place.
The third argument concerns the projects! Palm Jebel Ali and Dubai Islands are some of the next two neighborhoods to come on stream. These are neighborhoods in which exceptional projects have been announced, starting with magnificent villas, some affordable, others much more expensive.
Finally, Dubai is a "simple" city. Investing in real estate requires almost nothing: all you need is enough money to pay the first instalments and a few identity papers. For the rest, contacting a real estate agent is all you need. He or she will take care of accompanying you.
The impact of Dubai's development on the real estate market
These bright prospects for real estate development in Dubai are having an impact: strengthening the real estate market. In 2023, the sector has made great strides, with a record year! In fact, over 15,500 villas were sold last year, an increase of almost 30% on the number sold the previous year.
And for 2024, things look set to be exceptional once again, with the market expected to grow by around 10-15%, raising hopes of new milestones. This will put Dubai firmly on the map of the world's most attractive cities.
In addition to the increase in sales, real estate investors are also being offered an improved product. Real estate developers are offering ever more exceptional projects, with large surface areas, green spaces and premium amenities.
The most beautiful villas in Dubai are on Dubai Immo
Dubai Immo is the first French-speaking real estate agency in Dubai. On our platform, you'll find a selection of the best developments on the market, offered by the best developers in the sector. Do you have an idea? Want to find out more? Don't hesitate to contact us. Our teams of RERA-certified real estate agents will get back to you as soon as possible with answers to any questions you may have.
