Dubai may have been hit the hardest by the fall in property prices across the UAE, but Azizi Developments based in the emirate is forging ahead with construction projects worth AED 3.5 billion ($950 million) over the next three years.
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One of the first freehold housing communities in Dubai, The Greens has always been a favourite of homebuyers and tenants alike. Its accessibility, plentiful amenities and lush landscaped gardens are just among the key facets that have made The Greens one of Dubai’s most prestigious neighbourhoods.
The Dubai Land Department introduced a fractional title deed programme this week to boost the emirate’s hospitality industry and offer cheaper options to small property investors. An investor will be able to buy up to half or a quarter of a hotel or serviced apartment under the new initiative.
The process of buying, renting or selling property is still largely conducted offline, but as the coronavirus pandemic has restricted movement, demand for a distanced approach to finding property is on the rise, paving the way for greater digitisation in the sector.
Strong June transactions lay foundation for rebound; more units being sold. Real estate sale transactions in Dubai jumped by 60 per cent month-on-month in June 2020 signalling patterns of a V-shaped recovery, according to developers and property experts.
Property prices and rentals around areas connected to Dubai Metro's Route 2020 will be more resilient compared to the wider market, according to property analysts and industry executives. They believe that rates will rise in the medium to long term but not in the short term due to oversupply in the market.
Excess supply is the result of the flurry of construction in Dubai in the run up to Expo 2020. Conservative financial policies and strong liquidity will remain a credit strength for the UAE real estate companies while their operating environment continue to deteriorate as the economy slows on oil price decline and coronavirus effects.
Considering all the rental options available these days, some residents are able to maintain their lifestyle, even with a tighter budget.
Buying real estate is not only about finding a place to call home. Investing in real estate (property) has become increasingly popular over the last 50 years and has become a common investment method.