Dubai Weekly Real Estate News 06/11/22
Dubai’s real estate market records over $3.51bln in weeklong transactions. A total of 3,474 real estate transactions worth AED9.62 billion were conducted during the week ending 4th November, 2022, according to figures released by the Dubai Land Department (DLD). Let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below. |
Property News This Week |
Transparency crucial to UAE real estate sector Dubai was ranked 31st out of 94 markets by JLL. Dubai was featured in the “transparent” section of the index alongside Finland, Singapore, Switzerland, South Korea and Denmark. Dubai is making great progress as it climbs the index with a view to becoming highly transparent. Dubai real estate: Russians overtaken by Europeans as biggest property market buyers The Dubai real estate boom has attracted international buyers, looking for second homes and/or investments. An increase of French, European and German buyers have entered the market which indicates increasing confidence in the market from global buyers. Dubai: Dh52m villa in Raffles The Palm sold Palm Jumeirah has once again gained the media traction as another high-value villa sold for Dh52 million. The buyer of the villa was from Europe and was seeking a Dubai residence for himself and his family. Dubai property rents: where they rose and fell in Q3, 2022 Average apartment and villa rental rates continued their upward trajectory in the third quarter with 4 per cent and 5 per cent rises, respectively, property consultancy Asteco has said. On an annual basis, average villa rents were up 22 per cent while average apartment rents rose 15 per cent during the 12-month period, it said. |
