Demand of Off-Plan Projects among Global Investors
Better Homes revealed in the report for January 2024 sales that off-plan projects in Dubai are contributing significantly to Dubai’s property sector. Approximately, 58.3% of transactions are recorded from residential off-plan projects whereas, deed of property conveyance accounted for 41.7%.
The report further enunciated a 2.85 % rise in Palm Jumeirah townhouses, whereas 4% growth has been witnessed in Jumeirah Village Circle apartment prices.
Recorded Sales of Off-Plan Projects in Dubai
Dubai off-plan projects have appealed to both the investors as well as home-residential. This generally occurs because of the safe and secure environment of Dubai, premium living standards, and vast employment opportunities.
The 2024 beginning has already signified the excellent record in the transactions for Dubai’s real estate market. With sales growth worth $9.6bn, Dubai’s property sector broke all the records.
The growth is specifically prompted by the unparalleled demand for properties based in renowned areas like DCH, District 1 MBR, and Downtown. Dubai’s increasing wealth is the proof of property sales influx, positioning Dubai as a magnet for property investors. Therefore, the UAE is standing at the second position in the global property market, exceeding the USA’s sales record.
Hence, Dubai offers investors splendid opportunities with all-time high returns, cementing the city as the superior residing place for all. The city is particularly attractive for potential investors seeking high ROI. Units bought amidst the COVID-19 witnessed a remarkable increase in property value.
Property values escalated from the predicted 50% to 200% in various communities. This underscores that high returns will be generated from the properties purchased during the pandemic time.
Prime Zones for Investment in Dubai
Better Homes explored various prime zones in the city following high returns:
Dubai Creek Harbor: An unparalleled waterfront neighborhood situated alongside the Creek, exhibiting a blend of residential skyscrapers. Further, remarkable landmarks, such as the Creek Tower, and commercial districts supplement the investment attraction. Moreover, the properties, here, are priced at AED 2,056 and above.
Downtown Dubai: The area offers exclusive commercial and residential units, with a starting price of AED 2,056 per sq. ft. Downtown Dubai is the epitome of luxuriousness where people enjoy a standard lifestyle.
Bluewaters Island: Embodying luxury properties like Jumeirah Beach Residence, Bluewaters Island is renowned for its vibrancy and blend of various features. The exclusive waterfront residences coupled with top-notch eateries add to the sophistication of the area. The residences, in this region, are priced at AED 4,804 and above.
District 1 MBR: The community is surrounded by deluxe amenities, where the residence price starts from AED 1,724 per sq. ft. The district is perfect for investors seeking privacy and advancement.
Further, investors are attracted to Dubai’s real estate market for long-term investments with a noticeable rise of 48% annually. Additionally, major apartment districts, like Downtown, JVC, and Maritime City have amplified the investment rate in 2024. Whereas, prime investment townhouse districts include Dubai South, The Valley, and California Village.
