Saeed Al Zubaidi, CEO of Like Home Holiday Home, confirmed that the real estate market in Dubai witnessed a noticeable recovery last February, which is evident in more than 12,000 deals in this field, and an increase of 35% over last year. With real estate prices rising by 1.1% this year, which is expected to reach 6.6% by the end of the current year 2024, we are witnessing an unparalleled increase in investor confidence in this sector, especially in off-plan sales, which constitute 60% of these deals.
Al-Zubaidi said that apartments are still the preferred choice for many investors and those looking for residences, as purchasing apartments constitutes 82% of purchases in the entire real estate field, and statistics also indicate the influx of many investors of different international nationalities: from the United Kingdom, India, Egypt, and France. , and Lebanon, which confirms the global importance of the real estate market in Dubai, which attracts the interest of those wishing to invest from all over the world. As for the rental sector, we noticed an increase in prices by 16%, as the average annual rent reaches 188,000 UAE Dirhams, which highlights the strong demand. On renting properties, this is confirmed by the increase in the number of real estate inspections, which reached 51%. These statistics highlight the amazing investment opportunities available, especially in the holiday home sector.
Speaking about the holiday home sector, Al-Zubaidi said: “We at Like Home Holiday Home Company support investors to benefit from this growth, especially those interested in the luxury holiday home sector, which returns relatively large returns to the investor. With the market preparing for further expansion and growth, now is the most appropriate time to invest in this sector, which not only provides high financial returns, but is also the ideal way to experience a life of prosperity and luxury within the city of Dubai.”