2023-12-30 22:05:41
Dubai is witnessing strong growth in luxury real estate prices, while growth rates are slowing in many other markets, supporting the emirate’s attractiveness to investors, wealthy people, and business owners from around the world, and consolidating its position as a global destination for living, working, and tourism, as the emirate topped the world in luxury real estate sales.
“Biz Community” confirmed that Dubai has entered the golden phase of the real estate market, in which South African citizens also participate in investing, as investors transferred their money to Dubai, which they see as not only stable, but also growing.
The South African news site cited Knight Frank’s 2023 report, which indicated a 225% jump in real estate prices, compared to the lowest levels of the pandemic in late 2020.
The website quoted Nombasa Mawela, CEO of the South African office of Save Property Group in Dubai, as saying that Dubai is the appropriate haven for investment in real estate currently, describing it as “a Middle Eastern center characterized by a continuous influx of businessmen and tourists, and a particularly thriving rental market.” “This provides world-leading returns on rental investments.”
He stressed that the growth of the real estate market in Dubai confirms that the majority of the real estate supply has been absorbed, adding that the emirate is currently witnessing the launch of new development projects in the market, and these projects often offer easy payment terms and exceptional rental returns, especially for investors in South Africa. Mawela stressed that investing in Dubai opens new horizons for real estate developers in international markets, noting that “golden residency” has gained great popularity for those wishing to start their own businesses in Dubai.
The CEO of Saif Property Office stressed that opening personal and external bank accounts in Dubai is an additional advantage for real estate developers, as real estate buyers are currently able to obtain real estate financing of up to 75% of the purchase price.
He explained that many real estate developers offer very attractive alternative payment plans, which are ideal for South African citizens. Mawela added, “Dubai is one of the most attractive real estate markets, with opportunities doubling day after day. It is one of the most important real estate investment opportunities in the world.”
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