This is because of strong demand from European customers, especially those in the UK. This is changing the types of people who buy new launches in Dubai.
The fact that major new housing projects sell out in hours shows that the Dubai real estate market is still highly dynamic. Developers who are known for building on time and to high standards are setting the bar because their new projects are going quickly. It’s so popular that even projects by younger creators sell out in days. Many of these projects, on the other hand, sell out in hours.
People are following this trend because they trust these companies. People are sure that their investments in Dubai’s most important real estate projects will pay off in the long run, both in terms of property value and rental income. The Dubai market has better returns than many other big towns in the area. This brings in more buyers from other countries, especially Europe. The name “Brand Dubai” also gives people peace of mind because they know the city is committed to finishing great projects on time.
The real estate market in Dubai looks good for 2025.
People who work in the real estate business in Dubai think it will stay strong until 2025. Amira Sajwani, managing director of Damac Properties, said that Dubai is now a global city with growth and safety possibilities. The Golden Visa program has made it possible for many people who hadn’t thought about buying property in Dubai to do so now. Because of this, many buyers from Europe, especially the UK, have joined the market.
Sajwani also said that Dubai is appealing to investors from around the world because it is still cheaper than places like London and Paris. A new project by Damac Properties called Violet Phase 3 sold 600 units in just a few hours. This shows that the market is still very strong.
Development is still driven by new projects.
In Dubai, more than 93,000 new units were built in the first eight months of this year. This is the most important in the city’s history. Emaar Properties, Nakheel, and Sobha Group are the companies that are leading the way with these new projects. Like, Samana Developers sold out of their Ocean Pearl 1 and Ocean Pearl 2 projects in just two hours. European buyers have been interested in these seaside homes in Dubai Islands, which shows that people still want to live in luxury in Dubai.
Majid Developments, a new builder in Dubai, has also done well; 40% of its first homes have already been sold before it even opens. Both local and foreign buyers want to buy properties in Dubai because there is a lot of room for growth and the rental returns are good.
Changing the type of buyer
One clear change is the type of people who buy homes in Dubai. More and more British and European investors are buying homes in the city, sometimes replacing Asian buyers. The Golden Visa program has been a big part of this change because it lets people who buy land stay in the country permanently. Foreign buyers are even more interested in Dubai now that some builders are offering deals that include up to three Golden Visas.
104,250 units have been sold so far this year, which is just 14,000 units less than the total number sold last year. Major real estate projects that sell out in hours and investors from all over the world who are still interested show that demand is still high. As Dubai continues to grow, experts think that the real estate market will stay strong well past 2025.
