Dubai Property Price in 2016: Resilience in Challenging Times
In 2016, Dubai's real estate market saw 60,595 transactions exceeding AED 259 billion. This is a sign of the market's stability and longevity, as emphasized by the Honourable Sultan Butti Bin Mejren, Director General of DLD.
Breakdown of Transactions
- Sales Transactions: More than 41,776 sales transactions were reported, amounting to AED 100 billion. Mortgage and land sales accounted for a large portion of the total, which was in the region of AED 193 billion spread across 15,994 transactions.
- Mortgage transactions: The Mortgage market accounted for AED 128 billion, with 15,000 transactions reported. This shows a high level of confidence among investors and the availability of financing alternatives. In 2016, we saw the introduction of 134 new projects worth AED 100 billion, indicating developers' confidence in the market's future growth potential.
Investor Insights
The real estate agents in Dubai continued to attract a diverse variety of investors in 2016—the total amount invested exceeded AED 91 billion, which came from 55,928 investors. The market's appeal is spread across GCC citizens, Arab investors, and many foreign investors.
GCC And Arab Investors
- GCC Nationals GCC Nationals: Contributed AED 35 billion to investors 12,768, including Saudi Arabian investors leading the trend with transactions of AED 8.4 billion.
- Arab Investors: Outside the GCC, more than AED 12 billion has been contributed, and Egyptian investors have contributed have contributed significantly.
Foreign Investors
Foreign investment reached AED 44 billion in the last quarter of 2018, with Indian citizens ranked the highest in terms of quantity and value. Other notable investors were nationals from Pakistan as well as China, the UK, Canada, China as well as the USA.
Attractive Areas for Investment
- Business Bay has recorded 3,508 investments that total AED 6.2 billion.
- Dubai Marina: Secured 2,937 transactions totaling AED 6.3 billion.
- Burj Khalifa was the most popular on the value scale, with more than AED 7 billion spread across 2,097 transactions.
Dubai Property Prices in 2017
It appears that the Dubai housing market continued its rise in 2017. In 2017, the Dubai Land Department (DLD) announced an amount of AED 285 billion in real estate transactions, an impressive improvement over previous years.
In 2017, the Dubai real property market recorded around 69,000 transactions. This is a 6% boost in the number of transactions and a four percentage boost in value compared to 2015.
Transaction Breakdown
- Sales of land, as well as buildings and units, totaled AED 49,000 transactions.
- Mortgages. Mortgage payments were worth up to approximately AED 138.5 billion, spread across 15,700 transactions.
- Other Transactions: About 4000 other transactions were worth AED 33.3 trillion.
Global Investor Turnout
The Dubai real estate market in 2017 drew a diverse investor group from all over the globe. The total investment from 39,480 investors amounted to more than AED 107 billion, highlighting the market's global appeal.
Investor Demographics
- Gulf Nationals 9 790 Gulf Nationals completed 14,381 transactions valued at greater than AED 37.6 billion.
- Arab Investors More than 7,000 Arab investors completed 8644 transactions worth more than AED 14.4 billion.
- Foreign Investors: Around 23,000 foreign investors have completed 30000 transactions valued at AED 56 Billion.
Top Nationalities Investing
UAE citizens were the most active investors in the region with AED 25.307 billion and were closely followed by Indian investors who contributed AED 15.6 billion. Saudi investors came in third place with more than AED seven billion.
They were then British as well as Pakistani investors who contributed AED six billion and AED 5 billion, respectively.
High-Demand Areas
The report identified the top ten areas of sales in Dubai:
- The Burj Khalifa has recorded 2,008 transactions valued at AED 7.368 billion.
- Business Bay 3763 transactions for AED 7.115 billion.
- Dubai Marina: 3,300 transactions for AED 7 billion.
- Hadaeq Sheikh Mohammed bin Rashid 1 948 transactions valued at AED 5.672 billion.
- Al Barsha South Fourth: 3,138 transactions for AED four billion.
Dubai Property Price in 2018: Stabilizing Market Conditions
The Dubai real estate market in 2018 saw significant changes, which were characterized by a focus on high-quality and the most desirable residential areas.
Despite a decrease in the overall volume of transactions, the market showed the ability to adapt and withstand.
Dubai's residential market had 5,454 villas as well as 25,595 apartments traded.
The total volume of transactions in the second market stood at AED 74.7 billion, which is a rise of 10% of AED 82.6 billion in 2017. This decrease is a result of an equivocal approach by buyers and investors in the face of economic uncertainty in the world.
Key Statistics
- Apartments and Villas: A: Aal number of 31.049 un:iAfor residential use were sold.
- The secondary market: AED 74.7 billion in transactions in 2017, lower than AED 82.6 billion in 2017.
Off-Plan Market Dynamics
Off-plan markets saw the most drastic drop in transaction volumes, falling by 34% to AED 23 billion. But opening the market off-plan in Jumeirah gave it a much-needed increase in sales and was named the most successful area in the year 2018.
Improvements in World Islands, City Walk, Port de la Mer, Jumeirah Bay, and Madinat Jumeirah contributed to this achievement.
Highlights
- Jumeirah's Performance was a source of interest and became an essential point of departure for sales off-plan.
- Issues with the market: A drop in transactions that are not planned is a sign of a shift in buyer preference towards properties that are ready to move into.
Prime Residential Market
The most coveted residential market, luxury homes and luxury homes define that which, was AED 39 billion in the year 2018, that's an 11% drop over the prior year. The areas that are the most profitable
- Business Bay AED 6.9 billion in sales.
- MBR City AED 6.3 billion in sales.
Downtown Dubai: AED 5.4 billion in sales.
