Dubai’s real estate market continues to grow rapidly. The first half of this year proved to be a profitable one for those investing in rental property. Meanwhile, house and shop rents increased further.
According to the Savills Prime Residential World Cities Index, Dubai ranked first in the world in terms of rental growth during the first half of this year.
Thirty markets were evaluated for this. Dubai leads with 12.1 percent rental growth, followed by Bangkok with 9 percent growth and Lisbon with 7.5 percent growth.
According to the report, the gross profit in 30 markets is 3.2 percent, while the gross profit in Los Angeles, New York and Dubai is the highest at 5 percent.
Property Leaks: How much worth Mukesh Ambani’s properties in Dubai, British citizens also included in the leaks
Experts say that the reason for the increase in the rental demand of Dubai’s prime rental property is the high interest rate here and the return of tourists and expatriates after Corona. Overall, the demand for prime rental properties in the region is higher than the supply.
Dubai, increase in number of Pakistanis taking Golden Visa
Dubai’s real estate boomed last year too, with deals worth more than $76.5 billion.
It should be noted that despite rental growth, residential properties in Dubai are more affordable than other cities in the region.
#cities #world #profitable #rental #property #Business #Economy
2024-08-01 06:16:59
