Dubai's real estate sector is on a remarkable upswing, with residential property investment deals surging by an impressive 17% in the first nine months of 2023, reaching 45,169 deals compared to 38,731 during the same period in the previous year. In terms of value, the increase is even more substantial, with a 25% jump.
The off-plan housing market in Dubai has been a standout performer, experiencing a 33% rise in investment deals during the first three quarters of 2023, totaling 26,660 deals. Moreover, Realiste, a Dubai-based AI-driven proptech, accurately predicted a 46% growth in Dubai's residential property market for the year, bolstering investor confidence.
This thriving market is attributed to global investors and high-net-worth individuals flocking to Dubai, drawn by high returns on investment and comparatively affordable apartment costs. Realiste's AI-based projections also indicate price growth in select Dubai areas, signaling a bright future for the city's real estate sector.
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Dubai's real estate sector witnessed a significant sales increase during the summer season, with AED 102 billion ($27.8 billion) in sales, according to data from W Capital. The summer sales figure represents a 50% increase compared to the same period...
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