Whatsapp
Call Us
The real estate in Dubai has attracted investors from all parts of the world. Apart from individual investors, big corporations and industries, too, have shown a keen interest and invested actively in the real estate market in Dubai over the years.
One of the reasons why a lot of people prefer investing in the real estate sector in Dubai is that it has always displayed healthy growth. The real estate sector has evolved greatly in the last couple of years and with time, one has seen it becoming more and more conducive to investors.
Most people who invest in real estate in Dubai do not regret their decision. They benefit from it and when they inform their friends, relatives, and acquaintances about the experiences they have had, they also take the plunge and invest in real estate properties in the city.
People invest in the real estate sector in Dubai for a variety of reasons. While some individuals buy properties in Dubai so that they can settle down in the city in the future, some purchase properties to rent them out or sell them after a couple of years. Whatever the reason, Dubai proves to be the ideal city for real estate investment on most occasions.
It has been a few weeks since we stepped into 2024 and there already have been a lot of enquiries for real estate properties in Dubai. However, before you look for the best real estate agency in Dubai and consider properties to invest in, you should get some idea about the health of the real estate sector in the city at the moment and how it is expected to behave in the future.
Here are some of the things one can expect from the real estate market in Dubai in 2024:
Stability
Prospective investors should be happy to know that the real estate market in Dubai is expected to be quite stable in 2024. There would not be extreme fluctuations in pricing and that should lead to prospective investors sticking to their plans of investing in certain properties. This stability will also be reflected in the growth the real estate market is expected to witness this year.
When the real estate market remains stable, a large number of people show interest in investing in it. While the real estate space in Dubai might have been a little unstable in a few years in the last decade, 2024 is expected to be one of the better years as far as stability is concerned. When prospective investors will see the real estate market remaining stable for a while, they will feel confident about investing in it.
The regulation in pricing will have a direct impact on mid-market stability. If we speak in terms of numbers, around 24,000 units of properties are expected to be delivered this year. Many of the properties that are under construction at the moment are in areas like Arjan, IMPZ, JVC, and Dubai Land which are quite affordable.
Properties will be completed and handed out in several mid-market areas as well. Some of the mid-market areas where property-based transactions will take place soon are Business Bay, MBR City, Dubai Marina, and Dubai Hills. Once these properties take complete shape and are ready to be used, the rental prices will get stabilized further.
In the last few years, the rental prices in certain had surged as the demand was higher than the supply. However, with more properties coming up and people having a higher number of options at their disposal, the rental prices are expected to come down to lower levels. One should also expect properties to be put up for sale at lower prices.
Availability
With projects of different sizes and off plan properties reaching the penultimate handover stage this year, most people should have a greater number of options to consider. While the availability of properties to invest in was never an issue in Dubai, people did have limited options in certain areas in the last few years. However, this is one problem people should not face this year.
When you reach out to the best real estate agency in Dubai, you can expect them to show you a bunch of properties to have a look at. While some of them would be properties established a couple of years ago, many of them would be newly set up properties. With so many properties available at one’s disposal, one can expect a lot of investors to line up to buy houses, apartments, and commercial properties at lucrative prices.
This year, the construction process of many new properties should start as sellers would try to get some benefit out of current prices. Many leading developers in Dubai have already solidified their plans to launch a bunch of new projects soon. Because of the constant supply or delivery of new properties, the pricing should come down dramatically.
If somebody wanted to invest in real estate in Dubai but was holding themselves back because of the increasing prices, 2024 should be a good year for them to invest. Since a lot of new properties will be put up for sale, they should get a lot of affordable options to choose from. Even if somebody wants to buy a property towards the latter half of the year, they should keep an eye on the prices from now.
Since the real estate sector in Dubai is going through a maturing phase at the moment, one can expect sustainable growth to take place at a steady pace. During the Covid-19 situation and a while after that, the market suffered from a lot of jolts. In the last two years, one has seen real estate recovering from it and becoming stable again.
Company Bio – Falcon Premier Real Estate
When you look for the best real estate agency in Dubai, you will find most people pointing you toward Falcon Premier Real Estate. For years, the company has helped people secure the right properties for themselves at fair prices. Apart from helping them crack the right deal, the company has guided both individuals and businesses towards making the right investment decisions for themselves in the real estate market in Dubai.
