Real estate investments in the largest and most economically developed emirate of the UAE, Dubai, demonstrate high profitability over several years. Guaranteed passive income from renting out housing is up to 10% per year, while property value increases by about 5% annually.
Sales Statistics
2023: At the end of the year, the growth in real estate sales in Dubai reached 38% compared to the previous year. The number of transactions exceeded 130 thousand, and their total value increased by 50% compared to 2022, reaching 112 billion dollars. Demand for both completed and under construction properties was roughly equal.
Apartments were the most sought-after type of property, accounting for 86% of transactions, while villas accounted for only 14%. However, their value was roughly equal.
Rental housing remains in high demand in the Dubai real estate market. In 2023, over 600 thousand rental agreements were signed, with 90% of them being short-term leases for one year.
2024: The first half of the year saw a record increase in real estate transactions. Dubai recorded a third more deals than in the same period last year, both in terms of quantity and value.
The premium segment is experiencing even greater growth. In the first quarter of 2024, 40% more residential properties were sold compared to the same period in 2023, totaling 402 properties worth over 5.5 million dollars each.
Demand Formation
Every year, approximately 60 thousand new properties are built in the UAE, and demand for commercial and residential real estate continues to grow.
Investors from around the world are drawn to Dubai real estate due to its stable economy, high security, developed modern infrastructure, low taxes, and ample opportunities for living and doing business for foreign citizens. Moreover, purchasing a property guarantees a UAE residency visa, allowing you to work in the country.
The largest buyers of real estate in Dubai are citizens of India, China, the United Kingdom, and the CIS countries.
Easy to Buy
The process of purchasing and registering a property has been significantly simplified, and it can even be purchased using cryptocurrency.
Various real estate transaction options are available, including installment plans, mortgages, and resale during the construction phase.
