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UAE property market shows solid growth trends
三月 7, 2024
UAE property market shows solid growth trends 迪拜
By   Internet
  • 城市報
  • UAE Property
  • UAE Property Market
  • Housing Market Trends
Abstract: According to the latest report by Savills, the UAE's real estate market is expected to maintain its strong momentum. The report suggests that premium residential properties could offer yields ranging from 6.25% to 7%, while the overall residential real estate yield is forecasted to reach 7% to 7.5%. In the office sector, the expected yield range for premium offices is 6.5% to 7.25%, with Grade A offices ranging from 7% to 7.5%.

The total value of planned or ongoing real estate projects in the UAE currently stands at $409 billion, accounting for 24.4% of the total project value in the Gulf Cooperation Council region. This indicates significant and continued growth in real estate investment in the UAE. The report also highlights that the UAE's residential market was the only market in 2023 to achieve growth in both prices and transaction volumes, demonstrating the resilience and vitality of the market.

In terms of specific market performance, the report suggests that transaction volumes in Abu Dhabi are expected to continue growing, with new high-end and premium properties driving average price growth. Conversely, in Dubai, while transaction volumes may slightly decline, prices in the apartment and villa markets are expected to continue their upward trend. However, the pace of growth may slow down, indicating a gradual stabilization of the market.



For the office space market, Savills predicts that tenant activity in the UAE will remain robust. Due to scarce supply and increasing demand for premium assets, the performance of prime and Grade A assets will continue to outperform the overall market. Particularly in Dubai, due to insufficient existing premium assets, rising demand, and a limited number of restrictive development projects, rents are expected to continue rising, albeit at a slightly slower pace than last year.

In the retail sector, average rents in Abu Dhabi and Dubai increased by 10.7% and 17.6%, respectively, last year, indicating vibrant consumer activity. Looking ahead, demand levels in Abu Dhabi and Dubai are expected to remain strong. However, due to the continued shortage of premium properties, especially in Dubai, this remains a concerning issue. Therefore, although overall demand will continue to increase net growth, new lease registrations may continue to decline. Rent is expected to continue rising, but the pace of increase may slow down, especially in the Dubai market.

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UAE property market shows solid growth trends
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