New data reveals what many investors have known for a few months now, Dubai property should offer a better return than London this year.
Dubai’s property market is on the cusp of outperforming London, according to a recent study by Dubai-based proptech firm Realiste.
The study highlights Dubai’s consistent growth in property prices and occupancy rates – massively important for total return – is propelling it above its main European prime real estate counterpart.
Luxury home prices in Dubai are projected to soar by an impressive 6.7% to 20.3% this year, outpacing London’s prime property market, which is expected to see a more modest increase of 3.5%.
For years, investors have been increasingly attracted to Dubai’s lower taxes, higher yields, and breath-taking assets, but 2023 could be the year in which the emirate really solidifies its position as the world’s most lucrative investment hub.
Exciting developments and positive market outlook shape Dubai real estate sentiment
“Despite the differing market conditions, both Dubai and London [property markets] offer unique investment opportunities, depending on investors’ risk tolerance, liquidity needs, and investment horizons,” stated the researchers.
The study highlighted Dubai offers investors considerable advantages over London including more affordable prices.
While London’s market is famed for its stability, Dubai’s property market has consistently demonstrated resilience and adaptability, even in the face of global economic challenges recently.
There is a growing feeling among investors that this third growth cycle in Dubai is much more robust and sustainable than previous periods of high growth. Indeed, with a positive market outlook and a host of upcoming projects, Dubai continues to captivate investors seeking lucrative opportunities in a dynamic and thriving property market.
Dubai property investment has experienced a number of record-breaking months and quarters in the past few months following on from its world-leading performance post-pandemic.
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