During Q2, the secondary market continues to thrive even though there have been many off-plan projects selling out within hours of release.  We have noted a continued influx of multinational expats looking make home in Dubai along with confidence from investors in the Dubai Property market. 
There are many factors why people are choosing Dubai, to name a few, safety, ease of visa regulations, tax free income, lifestyle amongst others.  With rents back on the rise since 2020, the average ROI is up to 6-7% net again on long term leases with short term still standing strong at up to 10% net. 
The main question being asked is how long will this last? The UBS report of 2021 marked Dubai as the most ‘undervalued’ top 25 Countries to invest in Real Estate, with property prices rising we are still only seeing average pricing at 50% of what 2015 price per sq ft was.  With this in mind, and increase of population, low handover numbers and constant interest in the region, my opinion is, we will see a stabilization but a slim chance for any kind of down turn.

Sales Transactions at the Dubai Land Department
Q2 – 2021
Overall – 13,636 – Apartments – 9,161 – Villa/TH – 4,475
Off Plan – 9,161 – Apartments – 4,502 – Villa/TH – 1,121
Secondary – 8,013 – Apartments – 4,659 – Villa/TH – 3,354
Q2 – 2022 – 31% increase overall Y onY
Overall – 19,859 – Apartments – 13,856 – Villa/TH – 6,003
Off Plan – 8,369 – Apartments – 6,832 – Villa/TH – 1,537
Secondary – 11,490 – Apartments – 47,024 – Villa/TH – 4,466

Looking for an Off Plan investment? My top pick is….
Rashid Yachts and Marina
Starting prices at AED1,100,000 – Payment Plan 10% deposit, 60% during completion and 30% on handover, expected 2025.
This new ‘Marina’ style living next to Jumeirah 1 by Emaar is an impressive new master plan of beachfront living. 
If the projects neighbor, La Mer, launched 1 bedroom apartments around the AED1.3 mark (2018 registered) and are currently transacting at AED1,875 – a 30% increase.

Click here for more info:

Please get in touch if you would like any advice on your property or an updated property valuation.
Laura Victoria Adams
UBS Report https://theagentdubai.com/2021/10/23/ubs-global-real-estate-bubble-index-2021/
Data collated from propertymonitor.ae


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