Welcome to our weekly roundup of the latest real estate news and property transactions in Dubai. From notable launches to market trends, here's a recap of the most significant developments from the week of May 27th to May 31st, 2024:
New Off Plan Launches:
Golf Lane, EMAAR South:
Emaar Properties has unveiled Golf Lane, a premium residential development in EMAAR South. This project features contemporary villas and townhouses overlooking a championship golf course. Residents can enjoy a tranquil lifestyle with access to a clubhouse, fitness center, swimming pools, and lush green spaces. Golf Lane combines luxury living with the charm of a golf community, offering an ideal retreat for families and golf enthusiasts.
Azure Residences, Dubai Islands:
Azure Residences, a new project on Dubai Islands, offers luxury beachfront living with stunning views of the Arabian Gulf. Developed by Prestige One, this residential complex includes stylish apartments and penthouses with modern designs and high-end finishes. Residents will have access to private beaches, infinity pools, a state-of-the-art gym, and exclusive dining options. Azure Residences promises a serene coastal lifestyle with all the conveniences of urban living.
Dubai Harbour Residences, Dubai Harbour:
Dubai Harbour Residences is the latest addition to the vibrant Dubai Harbour district. This new development features upscale apartments with panoramic views of the marina and the Dubai skyline. Designed for luxury and comfort, the residences offer spacious layouts, premium finishes, and smart home technologies. Amenities include a marina promenade, rooftop infinity pool, fitness center, and gourmet restaurants. Dubai Harbour Residences provide an unparalleled waterfront living experience in one of Dubai's most sought-after locations.
Market Trends of Dubai This Past Week:
Majority of Dubai tenants are opting to renew leases to avoid rent hikes:
Many residents find it cheaper to stay in properties and benefit from rent controls than face surging market rates.
The National News stated “A Dubai market report has shown an increasing number of tenants are renewing their existing residential leases after two years of significant rent hikes.
Real estate consultancy CBRE found many residents are not prepared or able to pay higher rates on new leases. Its latest report also suggests that the change may be due to a lack of available stock particularly in prime and core residential areas.”
The cities luxury market dominance is being overthrown by mid-market buyers:
Dubai’s property market has long been synonymous with luxury, but a shift is underway. The mid-market sector is emerging as the fastest developing and most in-demand sector, potentially challenging the hegemony of the luxury market.
As many market experts know, this has been the case for quite some time now, while it is not highlighted as much, these buyers have a dominance over the HNWI buyers due to frequency of sales.
E&T Broker sells 3 Palm Jumeriah Villas over 159 Million AED in just 9 days:
One of our very own E&T Broker’s recently achieved a remarkable milestone by selling three villas on the Palm Jumeirah fronds for a total of over 159 million AED within just nine days.
This rapid series of high-value transactions underscores the strong demand for luxury properties in one of Dubai’s most prestigious locations. The swift sales highlight E&T Broker's expertise and the enduring appeal of Palm Jumeirah as a prime destination for affluent buyers seeking exclusive, waterfront living.
As Dubai's real estate sector continues to grow and flourish, the latest off-plan launches and market trends highlight the city's enduring appeal as a premier destination for luxury living and investment opportunities. Stay tuned for more updates and insights as we track the dynamic developments shaping Dubai's property landscape.