O2 Real Estate | Your Trusted Partner in the Dubai Property Market

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Dubais Property Market A 2024 Investment Guide
Dubais property market has been a magnet for
investors around the globe due to its dynamism
and attractiveness. As we transition into 2024,
it becomes crucial to delve deeper into the
complexities of Dubais property market. This
involves understanding the various factors that
will shape its future trajectory, from economic
indicators to policy changes and global trends.
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Market Trends and Forecasts The UAEs property
market witnessed steady growth in 2023, marked by
evolving consumer preferences. This trend has not
only attracted increased international interest
but also sparked opportunities for significant
transformation within the market. As we step
into 2024, several factors are expected to
contribute to the continuation of this growth.
These include policy reforms, infrastructural
developments, and changing demographics, among
others.
Residential Property Prices in Dubai The year
2024 is expected to see stable or minimal growth
in the prices of average properties in Dubai.
This stability in property prices can be
attributed to a balanced demand-supply scenario
in the residential property market. On the other
hand, the luxury segment is projected to witness
growth, albeit at a slower pace compared to the
previous year. These could be due to factors such
as a surge in high-net-worth individuals (HNWIs)
and increased demand for luxury living spaces.
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UAE Retail Spaces in Dubai The demand for office
spaces in Dubai continues to rise, thanks to new
market entrants and existing businesses expanding
across various sectors. Coupled with the limited
availability of office spaces, this has led to an
anticipation of a further increase of 1020 in
prime area office rents in Dubai. Additionally,
the total volume of retail sales in the UAE saw
an increase of approximately 4.2 in 2022, with
an expected average increase of 3.9 from 2023
to 2026. This indicates a robust retail sector,
which could further drive the demand for
commercial spaces.
Average Warehouse Leases In the third quarter of
2022, the average annual warehouse rent
per square foot in Dubai, UAE, was mainly between
22 and 26 Emirati dirhams. This range is
indicative of the demand for warehouse spaces,
driven by factors such as the growth of
e-commerce, logistics, and other related
industries.
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How O2 Real Estate Dubai Can Assist You O2 Real
Estate offers a suite of services to facilitate
your property investment journey. They deliver
comprehensive business strategies and solutions
customized to your unique requirements, guiding
you toward your dream property.
FAQs on Dubais Property Market A 2024
Investment Guide 1. What is the projected growth
rate of Dubais property market in 2024?
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The growth rate of Dubais property market in
2024 is expected to be steady, with the luxury
segment experiencing some growth.
2. How are residential property prices in Dubai
expected to change in 2024? Residential property
prices in Dubai are expected to remain stable or
grow minimally in 2024.
3. What is the 2024 forecast for office rents in
Dubai? Office rents in Dubai are expected to
increase by 1020 in prime areas in 2024.
4. What is the estimated total volume of UAE
retail sales for 2024? The total volume of UAE
retail sales is expected to increase by
an average of 3.9 from 2023 to 2026.
5. What are the average warehouse rents in
Dubai? The average warehouse rents in Dubai were
mainly between 22 and 26 Emirati dirhams per
square foot in Q3 2022.
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Conclusion Dubais property market is set for
ongoing growth in 2024, propelled by factors such
as economic resilience, population growth, and
business initiatives. Whether youre a start-up,
SME, corporate entity, or international
business, O2 Real Estate can provide valuable
insights and guidance to help you navigate this
evolving landscape.