Analyzing Dubai's Real Estate Performance: A Complete Review of Q1 2024

If we study the data of the 2024 1st quarter then we will notice that the Dubai real estate market has seen significant growth compared to its other markets. The everyday migration is increasing and so is the demand for the home in Dubai.
 
In 2024, Dubai will have a substantial 35% growth on a quarter increase in transaction volumes, reaching an all-time high of 35,100 units. Downtown Dubai is a prime location for starting a business and that is why many investors try to invest in this community.   

63% of transactions in the first quarter are in the construction phase, and a 73% surge in off-plan sales quarter-on-quarter indicates a significant increase in the purchase of properties before they are completed. On the other hand, rental demands have increased by an average of 7% across Dubai.

All the data makes us wonder about the reasons behind the significant growth of Dubai's real estate market, and why do people from all over the world want to settle here? Well, there are many reasons it varies from person to person, some of the common reasons are written below:-

The Middle East has always been one of the most unstable regions in the world, and talking about today’s time when most of the countries in the world are involved in wars and fight over supremacy, power, and resources. 

The UAE is one of the few nations in the Middle East region that offers a stable and secure political situation that allows a perfect environment for a foreign investor to move or invest their money. 

Here, investors don't only get stable politics; they also get exposure to high-quality amenities that can provide support for both small companies and MNCs. You will notice many entrepreneurs love to come here and open their offices because of the tax relaxation. 

Dubai is one of the most demanded cities in the world, and so are its communities. The rental demand in Dubai is very high because it gives a maximum amount of profit and a high ROI, depending on the size and location of the project. The average ROI in Dubai is about 9%. 

The city is growing and witnessing a high number of migrations, and because of this, Dubai has seen massive growth in rental demands. Locations like Palm Jumeirah have high rental demands.  Investors know the potential of the Dubai real estate market, and hence they are investing a high amount in the Dubai real estate market to maximize profit. 

Getting Dubai citizenship is way harder than we think, and many expat populations want to settle here permanently. Dubai's government knows the potential of Dubai and it is capable of changing people's minds and so does the passport but to maintain their authenticity, the government here made strict rules to get citizenship but they announced a policy known as the 

Golden Visa policy; a long-term residence visa that allows foreign people to live, work, or study in the UAE while enjoying prime benefits for a long duration, the minimum requirement to get this visa is to invest $25,000 to $ 1 million in Dubai Soil but for golden visa buyer has to invest more than AED 2 millions. After the introduction of this law, many foreigners started investing their money in Dubai to live here for a longer period. 

Lifestyle is one of the vital reasons behind the insignificant growth of Dubai’s real estate market. We all want to live a luxurious life where everything is highly accessible, convenient, and comfortable, and Dubai managed to provide that environment. Almost all the communities in Dubai offer a luxurious lifestyle, and its up-to-date amenities will make your life more and more comfortable. 

Modern amenities, vibrant nightlife, splendid views, better connectivity, and many more reasons attract people from all over the world and convince them to invest their precious money here.  Well do people love to buy properties in Dubai Creek Harbour because of its iconic views.

Dubai's real estate market is growing day by day. If you are an investor and want to invest money to maximize profit then Dubai could be an ideal location for you. The ROI of this is very high which will give you a high percentage of profit.  To make more profit, you can invest in the prime locations of Dubai such as Palm Jumeirah,  Downtown Dubai, Dubai Creek Harbour, and many more.