05 Jan
05Jan

Dubai experienced the highest sales of real estate in 4 years in terms of volume and valuation of transactions in the summer of 2019. For off-plan, ready and short-term rental properties, the Dubai Investment Real Estate have seen a rise in sales. The output of residences, villas, hotel apartments, townhouses, and residential parcels was robust. In June, July, and August of 2019, a total of deals worth AED 14.94 billion were reported. A cumulative selling of AED 7.07 billion was reported by the ready homes sector during the summer months of 2019. In only the summer months of 2019, the secondary sales market has produced 3,801 sales transactions. This means that more end-users in Dubai are now buying houses. The off-planning sector is actually in the lead. In this field, a total of 5,032 sales worth AED 7.3 billion were reported. The property market, right before the Dubai Expo 2020, has stabilized at the most perfect moment. This is the ideal moment for property investment. The real estate industry in Dubai has drawn developers and buyers from around the world with long-term payment contracts, discounted rates and fantastic bargains. A higher committee, headed by Deputy Ruler Sheikh Maktoum Mohammed Bin Rashid Al Maktoum and senior property developers, has recently been launched in Dubai to control and establish a more centralized policy for handling the demand-supply ratio of Dubai's real estate sector. This helps to improve the feeling of the buyer and it will quickly push the property market into a stable level. Since the Dubai market is skewed towards consumers, developers have built fascinating offers focused on investors' versatile needs. Dubai was rated the 3rd most affordable city for prime property in August by Savills' World Cities Prime Residential Index. Investors have become keener to purchase land in this global city with a price decline in the last 5-10 years and competitive yields along with long-term payment plans. The study also found that Dubai has a 4.6 percent average ROI, making it the fourth-best high-yield global centre. There is currently an increase in the demand for short-term rentals in Dubai. Short term rentals have been an interesting venture in the tourist hub at a growth rate of 10 times more than standard hotels. Short-term rental demand rose to nearly 70 percent between June 2018 and July 2019, while hotels expanded by 7 percent, according to Air DNA research. Therefore, it can be inferred that the property market in Dubai is at its highest and now is the right time to invest. Dubai will see a greater interest in property purchases from developers and end-users as Expo 2020 approaches. The Real Estate Companies in Dubai has seen very tight payment arrangements before. Presently, for many years, the market has been investor-friendly for post-handover payment arrangements. A big draw for developers from all over the world is the new long-term residence licenses for property investors for five and 10 years. Being a tax-free opportunity, Dubai is a sanctuary for anybody who wants to save and earn excellent returns. The rising demand for real estate is positive news. The summer of 2019 was the highest revenue time, and higher growth is anticipated in the future.

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