Dubai has always been a great option as one of the most popular destinations for overseas investing. This year we had transactions for entire buildings and floors, which were purchased by well-known Chinese investment groups and individuals.
The impressive performance of the Dubai luxury real estate market in the first half of 2022 will likely continue for the rest of the year. This is the consensus among industry experts and analysts who study the upper segment of Dubai‘s real estate sector, with growing demand and soaring prices as major contributing factors that will fuel its growth. The strong performance of the luxury real estate market in Dubai is largely benefiting from strong demand from foreign investors. This will continue for the rest of 2022 as an estimated 4,000 High Net Worth Individuals (HNWIs) are expected to move to Dubai.
How has the real estate rental market developed in Dubai, where will the sector be heading in the next two years and how is H&S Real Estate contributing to this growth?
These are exciting times for the rental property sector in Dubai. Upsizing is a big trend in the industry and it’s mainly because homeowners realize that lowering their asking prices is better than keeping an empty house. Average rental rates for apartments and villas continued their upward trajectory in the third quarter with increases of 4% and 5%, respectively. Rental rates are expected to remain high towards the end of the year and into 2023.
What is H&S Real Estate’s growth strategy over the next decade, what will be your focus areas?
In a time of accelerating change, our strategy is to leverage three main themes. It is a question of innovating, of initiating a new operating model to reach all our international prospects, of capitalizing on the phenomenal performances of the secondary market, which we are witnessing today, and finally of setting regional strategic priorities. for the future. Despite the short-term challenges of the pandemic, H&S has set itself a clear and ambitious plan for 2020 to increase tenfold over the next decade.