International perspective on the real estate in Dubai in 2023

Dubai is one of the most attractive places to live and invest in the world due to its many advantages. Successful entrepreneurs from all over the world gather here to open their companies and educate children. Investment property in Dubai has become a way to wisely invest money and earn high ROI.

International influence
Experts from the analytical company Knight Frank prepared a Wealth Report that revealed how many square meters of real estate can be purchased in cities around the world for $1 million.
According to the statistics, Dubai ranked 16th in the overall ranking. It is noteworthy that this position, on the contrary, emphasizes the attractiveness of the real estate market of the emirate. This means that Dubai, being a technological and modern metropolis, provides an opportunity to buy more comfortable luxury real estate than in other cities.
For example, the first place was occupied by the Principality of Monaco: here, for the specified amount, you can buy only 17 square meters. Hong Kong and New York were also classified as the most expensive cities, where 21 and 33 square meters of real estate can be purchased for $1 million, respectively.
All this makes Dubai an ideal place to invest in luxury real estate, which is what international investors enjoy.

Property in Dubai
Compared to other global metropolitan areas, real estate in Dubai is undervalued. However, investments in it here pay off many times faster, from 8 to 13 years, which makes the city one of the most attractive places for investing in square meters. It is also worth noting the role of the state, which creates all kinds of conditions for the development of promising business.
In addition, local developers offer very favourable conditions. We are talking, among other things, about interest-free instalments, when the buyer pays only 10-20% of the total cost, and pays the rest in instalments over 3-5 years.
Buying real estate in the emirate gives you the opportunity to rent it out, which can provide additional income, allow you to travel, relax, move from place to place, not worry about the financial side of the issue and at the same time close mortgage payments. This is especially important now that people are looking for financial stability.

Secondary real estate in Dubai
Last year specialists recorded 90,881 housing transactions, and this was another record that was previously set back in 2009. Also, market participants witnessed an increase in sales in the off-plan property segment - the number of transactions increased by 92.5%.
However, this situation does not mean that sales in the secondary property market have stopped. On the contrary, such sales also increased by 32.5%. Experts note that the announcement of new projects from developers will lead to even more properties. And this, in turn, will affect the secondary market.
The secondary housing segment will continue to move on an upward trajectory due to the fact that there is a strong demand for finished properties. And this perfectly proves the significant number of real estate transactions worth over AED 100 million. Thus, the finished housing segment will also show growth, which will bring even more income to the owners.

Prospects for the Dubai real estate market
Despite the current international climate and declining interest in luxury real estate, Dubai continues to gain momentum in luxury property. Moreover, it was Dubai that took the 4th place in the list of the most active luxury property markets. Analysts from the consultancy Knight Frank report that in the first quarter of 2023 buyers purchased over 85 luxury properties, the total value of which exceeded AED 6 billion.
The specialists were also able to find out which areas with premium property are of interest to potential investors. TOP-3 occupied well-known areas, where the average price of one square meter in these areas has crossed the mark of AED 95,000:

• Emirates Hills, 
• Palm Jumeirah 
• and Jumeirah Bay Island. 

Another important factor is the rapid growth of the elite residential real estate market, which was recorded in the city in 2022: we recall that the maximum growth rate was 44%. Specialists from Knight Frank believe that this year we should expect an increase in the cost of luxury housing - according to expectations the average price will increase by another 13.5%.

Real estate agency in Dubai
Once you decide to buy a home in Dubai, there are many options to suit different budgets and needs. At the moment, the real estate market is the most stable and promising for investors from all over the world. And the trend will continue for a long time. Dubai-Property.Investments agency and its specialists will help you navigate the market and search for the options that will match your preferences and bring you the most joy and income.