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.