Dubai’s residential property market maintained its positive momentum in Q1 2024, echoing the strong performance of 2023. According to a new market report, the sector witnessed a significant 55% increase in investment inflows during this period. Notably, 42% of these new investments originated from international markets, highlighting Dubai’s growing global appeal.
The report further indicates that the upward trend is expected to continue, particularly following the recent policy change eliminating the minimum down payment requirement for obtaining a golden visa through real estate investment. This move is anticipated to attract a significant influx of high-net-worth individuals (HNWIs) to Dubai by 2025, potentially propelling the ultra-luxury segment to new heights. The report projects a growth of 24.6% in the HNWI population by 2025.
Overall, the findings of the report paint a positive picture of Dubai’s real estate market. The strong Q1 performance underscores the sector’s resilience, diverse appeal to international investors, and its ability to adapt to changing market conditions. The report emphasizes the importance of investor confidence and market liquidity for sustained growth, which are both evident in the balanced performance of off-plan and secondary market sales. This equilibrium signifies a mature and stable real estate landscape.
The report also highlights the growing demand for off-plan properties, suggesting a strategic shift in investor preferences and a focus on capital appreciation and yield generation within the sector.
Publish 18 Apr 2024
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-residential-property-market-surges-to-110-bn-in-q1-says-report
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