Real cases indicating market recovery in Dubai
While the majority of international buyers were predicting Dubai market crash by 30/50%, the market is picking up by up to 50% in 2021.
Here are the real transactions comparison:
Example – The Address Jumeirah – 2 Bedroom with full sea view, 1188 sq.ft
- September 2020 – 2.290.000 AED
- February 2021 – 3.250.000 AED
You could have made 960.000 AED ($260,000) within 6 months!
The same situation we can observe over all prime and established locations in town.
Example – Villa in Arabian Ranches II – 3965 sq.ft
- September 2020 – 2.650.000 AED
- January 2021 – 3.550.000 AED
Example – 2 bedroom Apartment in Blue Waters Island
- September 2020 – 3,800,000 AED
- January 2021 – 5.300.000 AED
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Click Here to view the Dubai property market historical timeline
Are you curious to know WHY this is happening?
Here are the facts:
1. UAE was one of the first countries to get out from the lock down and resume all the activities. Dubai government took amazing efforts to take the situation under control and Dubai proved itself one more time as one of the safest countries to live and visit. While most of the countries are still under total lockdown, Dubai is one of those few destinations that is open and welcoming the travellers from all over the world.
2. UAE has the highest in the world vaccination rate (Israel is on the second place)
3. UAE has the most stable political situation worldwide: renewal of diplomatic relationship with Qatar; historical establishment of diplomatic relationship with Israel.
4. Demand is higher than supply in certain locations
5. Over 950,000 tourists have visited Dubai within the past 2 months that brought over AED 1,000,000,000 to Dubai’s budget (part of Dubai Government campaign)
6. Stable national currency rate – AED rate to other currencies remains stable over decades – investing in property here is the best defence from inflation and currency devaluation.
This is great chance to enter the market at the beginning of the growth cycle .
Source : | Photocredit :