2023-10-07 22:03:34
The Indian Times website praised Dubai’s strengthening of its position as the most crowded and active market in sales around the world for luxury homes, as buyers pumped more than $1.59 billion during the third quarter, according to a Knight Frank report.
The Indian website indicated that Palm Jumeirah is the most popular area in the city for wealthy buyers, as it represents a little more than half of the sales of luxury products, and that neighborhoods such as Emirates Hills and Jumeirah Bay Island were also very popular, and house prices in the three areas rose by 16% over It was a year ago, according to the report.
The Indian Times confirms the prosperity of the real estate sector in Dubai, especially with the policies and procedures followed by the Dubai government for golden residency visas and other facilities that attract foreign investors. The website explained that the real estate market also benefits from the influx of wealthy investors around the world.
He stressed that developers try to hedge their bets more, by demanding large down payments before starting construction, but wealthy homebuyers also bear more risks, by paying large amounts of cash upfront.
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