The UAE’s real estate market is as of now encountering restored vigor and energy, on account of the topped rental and capital appreciation across some of the high-end properties, as per real estate investment advisory firm Medallion Associates.
The UAE’s supported attractiveness lies in the market’s different novel offers, remembering its extreme concentration for developments and advances and conclusive and quick activities against Covid-19, it expressed.
Medallion Associates showed that in spite of the difficulties brought about by the pandemic, domestic real estate deals have shown an upbeat market outlook.
Amid the pandemic, Dubai’s real estate market showed a whole of 35,600 deals costing AED72 billion in 2020 in comparison to AED82 billion in 2019 – thus making the country one of the highly favored refined and smart investment destinations.
Furthermore, the recent rise in villas costs in Dubai was registered.
As per the report showed by Reidin, villas sales costs in the emirate have boosted since September 2020. The villas segment saw a quarterly deal cost change of 2.7 percent and rentals also increase by 2 percent in the last quarter of 2020.
Whereas in Abu Dhabi, villa sales cost to rise by 2.7 percent quarterly, and rent costs slightly decrease by 0.8 percent. Villas sales costs, meantime, increase 2.2 percent.
CEO Masood Al Awar said: “Global investors with a long-term investment view and strategy have a resilient outlook for Dubai and the UAE. We attribute it to the emirates’ investor-friendly policies, national economic growth potentials, and profit landscape. “
“Further, investors are drawn to the country’s strong economic fundamentals fueled by its capabilities to drive growth based on key factors such as strong job market, steady growing population, excellent infrastructure, world-class healthcare, and education systems, as well as an attractive tax base,” he added.
Al Awar said: “We are confident that our role is to attract and execute real estate investment transactions through the complex asset funding and financing with fund structure will stimulate new activities within the emirate’s real estate community, which will further accelerate its recovery and bolster its growth.”
“Even during the toughest of times, the real estate market in Dubai and the UAE, in general, continued to attract investors from Europe and the US as global migration movement is picking pace. These investors want four key drivers to relocate, which are macroeconomic stability, safety, and security; modern infrastructure; higher living standards; and economic policy consistency,” he added.
Furthermore, the recent historic step of the UAE Government providing citizenship to eligible foreigners is a welcome development for the country’s real estate segment.
As per him, the new policy, which is enacted to draw in more gifts that can add to the nation’s advancement, will emphatically affect the market with the resulting section of more forthcoming property investors.
The real estate is also liable to profit by the government’s upgrade bundles to be carried out in 2021, particularly in Dubai, which was one of the first to open under strict precautionary and security measures, he added.