Real Estate News & Trends from Dubai

    The real estate market figures for the first quarter of 2023 are once again exceptional. The trend established in 2022 has been largely confirmed and even accelerated in the first quarter of 2023.

    The volume of sales increased by more than 60%

    Official statistics from the Dubai Land Department show an impressive increase in sales volume in the first quarter. The total value of transactions registered in the first quarter exceeds CHF 22 billion (88.7 billion dirhams). This represents an increase of over 60% compared to the first quarter of 2022. As a reminder, 2022 was already one of the record years!

    After buying a property, it doesn't take long before you are contacted by supposed real estate specialists who would like to sell the property and also already have a potential buyer - which is often not true at all.

    You wonder from where real estate agents get your personal contact information, such as cell phone number or e-mail address?

    Dubai is built for car traffic and public transport is still in its still in its infancy. Above all, the connections are not really designed to be user-friendly.

    With the project THE LOOP, Dubai wants to better connect and network with theclaimThe aim is to combine cycling and public transport for longer distances.

    Review of the year 2022

    According to Property Finder's latest Zeitgeist 2022 Report, the Dubai real estate market experienced another record-breaking year in 2022. By November 2022, over 88,000 sales were recorded with a total value of AED 83 billion. The value of off-plan transactions accounted for 44% of the total. (In the previous year, the approximately 60,000 transactions reached AED 44 billion).

    The most sought-after villa and residential districts were Palm Jumeirah, Downtown Dubai, Jumeirah Village Circle (JCV), Jumeirah Beach Residences (JBR), Jumeirah Lake Towers (JLT), Dubai Hills Estate, Arabian Ranches, DAMAC Hills, The Springs and Mohamed Bin Rashid City.

    The $6 billion Dubai Pearl megaproject was announced in 2002. Due to a change of management and various delays, the project has been at a standstill for 16 years - an eyesore right in front of the Palm Jumeirah.

    When buying a property, you always hear how important the location of the property is.
    But how important is it really?

    For us a clear -VERY IMPORTANT!

    Now, nevertheless, just still summer vacations were and now is already soon again Christmas. Here in Dubai, the weather and the sea are slowly becoming more pleasant. With the pleasant weather you also meet more tourists and investors.

    In the last months the global economic climate has changed drastically. In light of this, Dubai remains a popular option for international investors with its business-friendly initiatives and economic stability. The Dubai real estate market achieved its strongest sales quarter in more than 10 years from July to the end of September, setting another record in the process by recording the highest sales value ever for both a villa and an apartment.

    Nakheel, the developer best known for building the famous Palm Jumeirah, has announced another project - the Dubai Islands project. The project, formerly known as Deira Islands, is in line with the Dubai Master Plan 2040.

    The project consists of 5 islands - Central Island, Shore Island, Golf Island, Marina Island and the Elite Island. Each island will have its own unique offer of various beach clubs, recreational, sports and cultural activities. In addition, there will be about 21 kilometers of beach, various parks, green areas and golf courses.

    I, Cynthia, have been living in Dubai for two years now. Many of our clients as well as friends, acquaintances and relatives ask me again and again what I miss from Switzerland and how life is especially as a 'blonde' woman in an Arab country.

    I am happy to share my impressions of my life as an expat in Dubai.... Have fun! 😉

    Real Estate Market Dubai Q2 2022

    Temperatures are rising, the sea is getting warm and there is no cooling in sight even in the evening - so here's to air conditioning!

    Half a year has already passed and the real estate sector in Dubai continues to break records in terms of sales and transactions. With almost 43,000 sales transactions whose total value exceeded almost AED 115 billion, this is the strongest performance of the first half of the year since June 2009.

    Becoming the world's most sustainable city - Dubai Clean Energy Strategy

    The oil boom in the 1950s triggered rapid economic growth in Dubai. Towers were built, international companies came to Dubai and tourism increased steadily. But as the economy grew, so did its environmental footprint. In 2006, WWF found that theUAE was the country with the world's largest ecological footprint per capita. Dubai was the top performer among the seven emirates.Rapid growth and urbanization is a challenge in terms of sustainability. Two years later, the UAE launched the "Masdar" project, the Arabic word for "source," in partnership with WWF, marking its first effort to promote sustainability.

    In 2017, the UAE launched the"UAE Energy Strategy 2050". The goal of this strategy is to increase the contribution of clean energy to total consumption from 25% to 50% by 2050, while reducing CO2 emissions from electricity generation by 70%. Furthermore, in 2015, Dubai unveiled the"Dubai Clean Energy Strategy". With this plan, Dubai aims to source 75% of its energy needs from clean energy sources by 2050, becoming the most sustainable city in the world.

    Dubai passes the 3.5 million mark!

    Since 1960, the population has grown from 40,000 to now over 3.5 million people. Between the end of 2020 and April 2022, the population has increased by nearly 100,000 people. By the year 2040 (click here for more on the 2040 Master Plan), the population target is about 6 million. Schools in particular are also noticing a significant increase in new enrollments, which is an indication that many are moving their center of life to Dubai.