2019: A critical year for Dubai Real Estate News
In just a few months’ time, the most sought after Expo 2020 is about to commence. 2018 was seen as the year of landmark reforms. Since the UAE government has announced a lot of initiatives, these reforms are aimed to create a positive impact on the business sector, investors, and the future residents of UAE which the country aims to draw and preserve. Since these initiatives have been implemented, the Dubai Real Estate Market has seen a steady growth in a lot of aspects. More apartments for rent in Dubai became affordable which made more tenants and landlords become actively involved in the market.
2019 and 2020 are among the critical years which would determine the growth progress of Dubai. Since the real estate market continues to mature, it has become more flexible. More people are able to afford apartments for rent since developers are aimed to cater the growing demand for affordable homes. As the most awaited Expo 2020 draws near, developers are determined to keep up with the ever-changing real estate market.
In recent statistics, it is shown that about 28,500 residential units might be handed over by the end of 2019. Averages of 21,700 units were delivered last 2018 which are comprised of apartments (83 per cent) and villas (17 per cent). Dubailand continues to have the highest number of deliveries and is followed by Jumeirah Village Circle and Triangle. Dubailand is known as one of the most affordable areas if you’re looking for apartments for rent in Dubai, while Jumeirah Village Circle and Jumeirah Village Triangle are known for affordable villas for rent.
2019 will be a huge deciding factor on how the real estate market of Dubai will grow. Now that we are seeing stable results so far, we could be assured that the Dubai Real Estate Market will continue to grow stronger for the years to come.