Dubai’s leasing market has demonstrated impressive growth this season. Several key factors have been the reasons for the Emirates’s growing real estate sector. Notably, a substantial influx of overseas families has moved to Dubai in anticipation of the new school year, driving up rental activity as these families seek residences near schools.
In addition to this seasonal migration, Dubai’s population growth has played a crucial role in sustaining the demand for rental properties. Over the past year, the city has experienced a 4% increase in its population, adding more than 143,000 new residents. This substantial demographic expansion has created a steady requirement for properties, ensuring a consistent flow of tenants and contributing to the market’s overall stability.
For investors, the current state of Dubai’s leasing market presents a compelling opportunity. The average price per square foot has increased from AED 63 in July 2023 to AED 75 in July 2024, reflecting strong demand and highlighting Dubai’s enduring appeal as a global real estate hub. This combination of high rental yields and rising property values suggests substantial potential for long-term capital appreciation.
The influx of new residents stimulates demand for a variety of services and goods, driving economic activity and job creation. This growth supports Dubai’s position as a global business and tourism centre, attracting further investment and fostering economic development.
Additionally, the strong performance of the real estate sector contributes to higher government revenues from property taxes and fees, which supports public services and infrastructure projects, further enhancing the city’s appeal.
Dubai’s ongoing dedication to growth and development guarantees that the real estate market will remain a source of lucrative opportunities and contribute to broader economic advancement.
If you wish to capitalise on these favourable conditions and discover profitable investment opportunities, now is an ideal moment to act.
One Investments is ready to support you. Reach out to us today to explore your options and take advantage of Dubai’s flourishing market.
