The Dubai property market has experienced a remarkable surge in prices, largely attributed to a significant influx of Russian and European investors. These investors are flocking to Dubai, increasingly drawn to the emirate's real estate sector, seeking stable markets and the promise of a luxurious lifestyle.Dubai, a city already bustling with expatriates, with nearly 90 per cent of its approximately 10...
Dubai has welcomed a staggering 4.67 million international overnight visitors in the first quarter of 2023, achieving a remarkable 17% year-on-year growth.
With its stunning architecture, world-class amenities, and tax-friendly policies, Dubai has become an attractive destination for high-net-worth individuals and investors from around the world and has emerged as one of the most prominent players in the global luxury property market.
These price declines will not make housing affordable, as mortgage rates have doubled since the start of 2022 and are expected to rise further House prices in most major property markets will fall in 2023, according to nearly 100 housing market analysts, but they predicted double-digit peak-to-trough declines will not come close to making them affordable. Mortgage rates have doubled on average in...
Megaproject halted in 2009 set for relaunch as value of beachfront properties rise 300 per cent in two years The relaunch of the Palm Jebel Ali megaproject could further turbocharge Dubai’s housing market as real estate agents report a 300 per cent rise in the value of some waterside properties. Dean Charter, the founder of Paragon Properties, said demand for beachfront homes far outweighs current...
Residents in Dubai must register all co-occupants living in owned and rented properties within two weeks, the emirate's housing authority has said. The ruling applies to all owners, developers, property management companies and tenants, who can register co-occupants via the Dubai REST app, if they have not already done so. The Dubai Land Department said the registration must be completed within a...
Owners risk huge compensation payouts by evicting tenants from their homes to boost rents Rogue landlords in Dubai are attempting to raise rental prices by several times the legal limit set by the authorities, residents and real estate experts said. Dean Charter, managing partner of Paragon Properties, said some landlords will leave a property empty and wait for a higher price. “Pre-Covid, a Dubai...