Dubai Real Estate news | The latest updates of 2023
A lot of real estate investors in Dubai are hoping to get more rental gains due to growing demand. But the latest Dubai Real Estate news suggests that the demand might slow down this year. The initial quarter of 2023 suggest that the real estate market might slow down, which might disappoint the investors. Rents of the real estate properties often increase and decrease, specifically across location like Dubai Marina. The increase might be up to 6 percent, given the fact that JLT residents might have to renew their contracts. Dubai Real Estate Market forecast 2023 gave optimistic predication about the future development in Dubai real estate business.
The Dubai Real Estate news about the slowdown would result in further rental increases. The only reason for such increase is past decreases of the rents of real estate properties in past two years. A lot of real estate entities like Discovery Garden, International city have owners, who might ask for 4 percent on average. Dubai Real Estate Agents commission has also had a greater impact because of changing scenarios.
What all this means in real terms
For the one residing in Dubai Marina, a proper two-bedroom could be somewhere around Dh90,000-Dh185,000 on yearly basis. Normally, some properties with new or high-quality commercial buildings would charge a sizeable premium amount. Atlantic has strengthened it elite status, as 2 bed apartment of this area are more 100,000 Dirhams. Asteco reports suggests that there has been conflict between landlord and tenant due to rent issues. A lot of landlords are looking to get benefits from favorable market condition. This had led to landlords looking to secure important rental increases under renewal, and equally resulted in increasing notices of eviction. Dubai Real Estate news suggests that Dubai Real Estate Authorities are themselves are monitoring the rent issues.
Some of the main real estate companies like Palm Jumeirah, Arabian Ranches, and DAMAC Hills, are preferable for Dubai investors. The latest Dubai Real Estate markets & news believe that the only best thing about these entities are their luxurious villas. Generally off plan market of Dubai Marina accounted for more 10 percent of overall transaction value with 6 percent sale number. A new comer named Hadeeq Sheikh Mohammad Bin Rashid was ranking at second number, as it represented more 9 percent of total sales value. Other than that, Jumeirah Village comprised of more than 8 percent of overall transaction value, which leads to volume of 20.6 percent. UAE country manager of Property finder said that Fast evolving property sector of Dubai evolved in last month. It has only minimal decline with regards to transaction volume, in current property market.
Conclusion
Estate Land Marketing is keeping a look on real estate market trends of Dubai, with their professional agents. Our agents have been working for different housing project within Pakistan, due to their expertise. You would be aware about the Dubai Real Estate News at every minute.
