Dubai seems to be the hotspot of news headlines as well as travellers who are looking for a safe abode amidst the crazy going Omicron wave everywhere in the world. This city needs no introduction as to why it’s the first choice. Dubai has not had its glorious roots coming from history itself. Dubai was surviving on fishing and pearl industry only before the oil was discovered in the UAE.
Basics of Dubai Real Estate
The major two attractions other than the securities and liberties Dubai has to offer is firstly the tallest tower Burj Khalifa which screams royalty meet technology in itself. The second one is the man-made Palm islands which are works of pure art in the gulf area of UAE which just adds the cherry on the cake for the beauty of Dubai hence affecting its real estate in a positive way.
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Not Just a Travelling Spot
Dubai is not only a traveller’s heaven but the entertainment industry also. We can all remember Mission Impossible, where Tom Cruise was being his usual self at the outer sides of Burj Khalifa and let’s not mention the Bollywood craze.
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Dubai Real Estate Growth
Dubai Real Estate witnessed a huge hike with 74.77 % from last year to today, suggested by the data published widely. All the recognised personalities and celebrities are making it a point to invest in Dubai, be it the 22 apartments of Mukesh Ambani in Burj Khalifa or Shahrukh Khan‘s personal Jannat in Palm islands. The celebrity charm of Dubai lures the buyers to invest in real estate resulting in a massive hike.
Apart from the celebrity charm is the security and liberties that works wonders for real estate. Dubai is the only one of five in the gulf area which offers liberties even after being a Muslim nation. Apart from the general overview of factors contributing to the rise in real estate, the pandemic outbreak is another factor.
- Management During covid Outbreak
Being the best hospitality management, Dubai served the world with its world-class facilities during the pandemic outbreak. Being quarantined was the worst nightmare of humankind back in 2020. Everyone was looking for an escape from the cage, for which Dubai also proved to be the one above. With due respect to the protocols of Covid, such as sanitisation and social distancing, Dubai welcomed the tourists.
The technology meet royalty part of Dubai is the most fruitful part that will keep growing money for the real estate industry. Creating one of a kind is almost equal to creating a brand and luxury like the Palma islands.
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Investors in Real Estate
But one which goes high also owns the possibility of falling down. The real estate industry is also tracing the same footsteps as back in 2014 when Dubai Real Estate was enjoying all the lavish investors, and after that, in 2018, all the investors along with the real estate industry was brought down to the surface with the massive crash of 2018. But that’s just another grey hair.
Bayut and Dubizzle is the one research to look forward to the predictions and estimates for Dubai Real Estates. Bayut and Dubizzle is a start-up founded very recently based in Dubai, which is now one of the successful businesses. Going by the words of Bayut and Dubizzle, “confidence has returned among buyers in the Dubai real estate market”.
Being a business entity, Bayut and Dubizzle can do predict the future of the real estate industry in 2022 correctly to some extent, and these words are not to be taken lightly.
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Government Laws
Following the lines, we can also assist factors like UAE government laws, UAE citizenship laws and remote vis, which acted as fuel to fire in attracting visitors first and investors second.
Property in itself is like an asset, same as gold, and with the rising real estate industry. To a commoner, Dubai stands out and needs no introduction, but for the investors and entrepreneurs, it’s like profit served on a plate. Dubai is an emirate of UAE, so will be the investors if we don’t exaggerate.
Conclusion
Starting from 2021, Dubai is seeing its part of flooding investors. Slowly and steadily, it’s reaching the top. In 2022 from my point of view, what we will be getting are higher rates and more islands like Palm islands.
Since it’s in the middle east, Dubai is welcoming the world. Which proves to be the new assignment for the real estate industry. The note to beginners will be that it’s never too late to start anew and is a time to make hay while the sun shines. And, if you are looking for some properties, you can visit the best community in Dubai. Also, you can check out the best apartments for sale in Jumeirah Village Triangle.
