Property prices in the UAE are expected to continue rising in 2024 amid higher demand
According to a consulting group, ValuStrat, average residential prices:
– In Dubai rose by 5% to 7%
– In Abu Dhabi rose by 3% to 5%
In the next 3-4 months, the market will continue to be strong in terms of:
- Transactional Activity
- Price Appreciation
- Rental Increases
New units are expected in the market next year, but demand will outstrip supply, supporting prices. Will be ready for delivery:
– 120,000 units in Dubai in the next 5-6 years with 20,000 to 30,000 units a year
– 5,000 units in Abu Dhabi in 2024
Largest investors according to the developer, Sobha Realty:
- India
- China
- UK
- CIS (Commonwealth of Independent States)
- Another European Countries
Expected investments from Latin America, Mexico, and Canada will help grow the demand further.