Real Estate Market of Dubai in 2018
In recent years, the Emirate of Dubai has shown a steady rise in both Arab and non-Arab investments in its real estate and property sector, despite the global economic downturn. Investor friendly regulations and a number of affordable projects by developers are playing a major role in the continuous growth of the property market in Dubai. For this reason, experts and market analysts are expecting unprecedented growth in the Dubai property market in 2018. Most experts believe that this rise in the market trends will be phenomenal in the upcoming years.
According to statistics, the property market of Dubai has had 13,759 transactions made in the first quarter of 2018, which indicates positive trends of the real estate market in the Emirate. This shows investors’ trust in Dubai’s real estate market. Statistics also show that Dubai is gaining popularity as a second home for many as a majority of recent transactions are made by Indian, Saudi, Pakistani, British, Chinese, Egyptian, Russian and Canadian nationals.
One of the reasons behind this growth is high returns on property investments, which are significantly greater than any other regional market. Handsome rents are another factor encouraging more and more investors to invest in Dubai’s property market. Another factor that is indicating positive trends in the real estate market is the affordability factor. Developers are coming up with more affordable property options to attract mid-range investors. Experts believe this approach can turn the tables in no time and boost the property market at a very high pace. For this purpose, property developers are constructing small sized units, which of course will make investors compromise on size, but its affordability and rental gains will surely catch their attention.
Another obvious reason behind the predicted upsurge of the property market is the Expo 2020. A number of projects are close to their completion in 2018, which are going to provide options for investors coming from all parts of the globe. At the same time, most of Dubai’s mega projects that are being developed for the Expo 2020 will be ready by 2019. Knowing these facts, smart investors will make a good amount of property transactions throughout 2018 and in the following years. To some experts, 2018 will prove to be the year of speedy growth in real estate market due to Expo 2020, which is now just around the corner.