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Residents who have been living in Dubai for decades are buying more and more real estate, as new initiatives on the visa regime, such as the «Golden Visa», have given them firm confidence in buying real estate and turning the emirate into their base.
In addition, the successful overcoming of the coronavirus pandemic by the Emirate also encourages a large number of real estate buyers and families to settle in Dubai on a long-term basis, which makes Dubai's largest private developer optimistic about the prospects of the local real estate market.
The [Golden] visa and other new visas encourage Dubai residents who have been living here for 20 years but have not bought a house to actually buy a house to ensure the safety of their family. After the introduction of the new visa regime, they want to buy real estate to ensure the safety of their family, and they are happy to invest in real estate.
The Dubai real estate market has recovered strongly after COVID-19, which was facilitated by the influx of foreign funds and wealthy individuals and billionaires into the local market, which led to a significant recovery in real estate prices and rents in affordable, medium and elite segments.
In 2022, about 7,000 units were delivered, and next year it is planned to transfer about 8,000 units. More than 10,000 units have been launched this year, which will be under construction, and several more launches will take place in the next few months.
