Dubai Property Market Defies Expectations with 17% Investment Growth in First Nine Months of 2023
In a stunning turn of events, Dubai’s real estate market has seen an astounding surge of 17% in residential property investment deals during the first nine months of 2023, according to the market study carried out by Realiste. This surge has propelled the total number of investment deals to an impressive 45,169, up from 38,731 during the same period last year.
Even more remarkable is the whopping 25% increase in the overall value of these investments, underscoring the resilience and attractiveness of Dubai’s real estate sector.
Off-Plan Housing Market Booms
The off-plan housing market in the city has experienced a meteoric rise, witnessing a 33% surge in investment deals during the first nine months of 2023, reaching a staggering 26,660 deals, compared to 20,035 deals in the same period in 2022. This segment has surged by an astounding 43% in value, making it a hotbed for investors looking to capitalize on Dubai’s property market.
“As we look to the future, we predict that the market will continue to expand and prosper thanks to innovation, diversification of opportunities, and a dedication to excellence. Dubai continues to be a beacon of opportunity for investors thanks to its advantageous location, robust infrastructural development, and forward-thinking mindset,”
Alex Galtsev, founder and CEO of Realiste
Dubai Property Prices Soaring
Dubai’s property market is set to reach new heights in 2023, with select areas such as Sobha Hartland and Bluewaters Island projected to see price increases of 17.6% and 17.3%, respectively, in the last quarter of the year, according to Realiste’s AI-based projections.
This upward trajectory is attributed to the growing influx of investors and high-net-worth individuals (HNWIs) worldwide, drawn to Dubai’s thriving real estate market and the potential for substantial profits.
Dubai’s real estate market has been on a steady rise for the last few years, with impressive returns on investments and competitive apartment costs compared to established markets like London and New York. The data shows that this upward trajectory is showing no signs of slowing down, cementing Dubai’s status as a beacon of opportunity for investors worldwide.
Sources* Arabian News, Realiste
