The golf city is challenging the global real estate giants in an up-and-coming market.
Despite the global rise in real estate prices, Dubai is the preferred destination for international investors looking for affordable real estate with high returns. Recent market research shows that the average property price in Dubai remains low at an estimated $6,057 per square meter, compared to $15,105 in Singapore and $10,598 in London.
Although real estate prices in Dubai are relatively higher than the average price per square meter of 4,750 dollars in New York, the forecast robust market growth of 15 percent in 2024 makes the city on the Gulf an attractive investment location. Realiste, a Dubai-based global proptech company, has conducted an AI-based market analysis that confirms Dubai’s attractiveness to both new and experienced international investors, especially in comparison to the trend of falling real estate prices in New York.
The Realiste study highlights Dubai’s strategic location, tax advantages and investor-friendly policies that make the emirate an up-and-coming, lucrative global investment center. At a time of rising real estate prices, Dubai stands out for its relative affordability and numerous government incentives that have made it a key location in the real estate industry.
Although concerns about rising real estate prices in Dubai persist, the city’s healthy and rapidly developing market offers a compelling option for investors. Realiste notes that Dubai is showing a fighting spirit against the established real estate giants and positioning itself as one of the best destinations in the world.
No real estate bubble in Dubai
The founder and CEO of Realiste, Alex Galt, claims that Dubai’s real estate market is far from being in a bubble and expects prices to potentially double in the next five years.
In the study, Singapore, once prized for its stability and business-friendly environment, is facing a significant price increase, making it less affordable for investors. Prices in London, with its historical significance and stable real estate market, are expected to fall due to inflation and the economic recovery after the Cold War.
Dubai, with its numerous opportunities for investors, remains a promising choice for those looking for profitable opportunities in the global real estate landscape.
