According to a JLL study, Dubai’s residential market will deliver over 35,000 new units by the end of the year due to its sustained strength. Creative product offerings, alluring payment options, and recent modifications to the golden visa requirements are driving investor demand.
According to JLL’s UAE Real Estate Market Overview for Q1 2024, approximately 10,000 units were delivered in Dubai and 1,600 in Abu Dhabi during the first quarter, indicating strong growth in the residential sector in the UAE as developers shift their focus to secondary locations.
The Dubai market had a great start to the year, with about 10,000 units completed in the first three months, bringing the total inventory to 729,000 units. An extra twenty-five thousand units will be delivered in Dubai over the next nine months. These will mostly be apartments in well-known neighborhoods like Business Bay, MBR City, Jumeirah Village, and Dubai Land.Dubai market saw sale prices and rentals recording 21 per cent annual increases. Apartment rentals, in particular, experienced a considerable yearly surge of 22 per cent, surpassing the growth rate of villa rentals at 14 percent.
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