Thriving economy
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:-