Real Estate in Dubai is in high Demand as the COP28 Approaches.
Over 70,000 People are Anticipated to Arrive in the UAE as a Result of COP28.
The Dubai real estate market is still seeing unheard-of expansion, with the off-plan market gaining significant traction. According to recent data from DHG Properties, approximately 53% of the apartments sold this year were off-plan during the first half of 2023. Learn more about off-plan properties in Dubai.
Numerous factors, including COP28, which is anticipated to draw over 70,000 visitors to the UAE, are driving the continued demand.
The City’s Of Dubai Incentives and Perks for Investors are also Driving the Market’s Expansion.
Savills’ most recent study shows that compared to the five-year average for the same period, real estate transactions increased by 209 percent in the first half of 2023, a 44 percent rise. According to research, even the traditionally sluggish summer months are now seeing greater market activity.
Over 50,000 apartments were sold in the first half of 2023, making this year the busiest ever for the Dubai residential market. In the first half of the year, the off-plan sector accounted for more than half of the transactions that were registered.
A number of areas, such as Jumeriah Village Circle (JVC), Al Furjan, Sports City, and Town Square, have seen an increase in demand and are expected to gain value in the future.
We are thrilled to witness the unprecedented surge in Dubai’s real estate market, reaffirming our belief in the immense potential this dynamic city holds,” said Blagoje Anti, founder and director of DHG Properties. The extraordinary increase in real estate transactions, particularly in the off-plan sector, is in line with DHG Properties’ mission to provide investors with premium yet affordable investment possibilities.
Off-plan properties’ reduced cost and greater financial flexibility are advantageous to both seasoned investors and first-time buyers. Developers compete primarily on prices in Dubai with the multiple projects that are announced each month, which is particularly interesting to purchasers.
