DUBAI REAL ESTATE INVESTMENTS MAY SURPASS LONDON’S IN 2023

ALBAWABA – Dubai real estate investments, in the United Arab Emirates (UAE), may surpass London’s in 2023, according to an AI-backed Proptech realty study, as reported by Arabian Business Monday.

The study predicted that Dubai’s ultra-luxury real estate prices would rise by 6.7 percent, to 20.3 percent, by the end of 2023, compared to a 3.5 percent rise in London’s.

Dubai recorded a significant growth in sales of high-end neighborhoods and recorded major investment opportunities with potential profits ranging between 20 and 30 percent, annually.

A February report estimated the proptech real estate sector’s opportunities at $86.5 billion.

Proptech refers to technology related to real estate development and construction.

The study pointed to the competitive advantages offered by Dubai to real estate owners, such as low taxes and higher returns.

It also highlighted the relatively moderate prices compared to counterpart cities, such as the British capital, London, as well as the steady growth in real estate prices and occupancy rates.

The British real estate market is facing major challenges in 2023, due to high interest and inflation rates, which will negatively affect growth rates, the study underlined.

The study indicated that despite the different conditions in the Dubai and London markets, both offer unique investment opportunities, depending on investors' risk appetite, liquidity needs, and investment prospects.

Provided by SyndiGate Media Inc. (Syndigate.info).

2023-06-05T15:38:13Z dg43tfdfdgfd