Prospects of the Real Estate Market in Dubai in Damac Hills in 2023

Despite the Covid-19 pandemic, demand for housing in the UAE and especially in Dubai remains high. This is not surprising, because with the support of the government, the city continues to develop dynamically. Even the rise in prices for apartments in Dubai in 2022 did not significantly affect demand. Property especially off-plan in Damac Hills and other districts of the city is gaining more and more popularity.

Housing in the emirates is in demand

Today this city is considered one of the most attractive for living and investment. The reasons for this are:

·      Comfort and safety in an urban environment.

·      High quality of life and advanced provision.

·      A variety of reforms, laws that allow you to purchase any property in the emirate in a short time and without bureaucratic problems.

·      Guarantees to protect the funds of foreigners wishing to invest in construction.

·      No taxation on income.

·      A stable economy, which is good for developing your own business.

According to last year's statistics, more than 60,000 successful housing transactions were completed. Among them, most rely on ready-made properties, and the rest - on apartments, apartments from developers.

Hence the conclusion: construction sites for various purposes are in demand by locals and visitors, and this popularity will only grow over the next years. Despite the increased cost, luxury housing is also in demand.

Nuances of the market in Dubai

Today, villas and townhouses are in consumer demand, this situation is due to two factors:

1.     Visitors to the city seek to expand the space and provide comfort for family living or work.

2.     Future property owners want to ensure their own safety or that of their loved ones and keep contact with society to a minimum.

But many want to get a comfortable apartment in the city. The high demand in this segment is influenced by the proximity to the workplace and the necessary access to infrastructure.

Prices for property for sale in Dubai

Despite the fact that the difference in prices here is quite noticeable, it is possible to single out the average cost of one square meter for various segments of real estate:

·      Budget apartments - from USD 3,300 per square meter.

·      Elite housing from USD 32,000 per square meter.

·      Villas - from USD 58,000 per square meter.

·      Land plots from USD 1,800 per square meter.

Today, land in the premium price segment is mainly available on the market.

Prospects for buying a home in Dubai 2022-2023

The dynamics of the cost of finished properties or at the development stage in the UAE is changing in a good way, despite the crisis in 2014-2022. This was influenced by positive factors:

·      More than 35,000 units of new construction projects have appeared on the market.

·      Compared to the crisis period, the value of real estate has increased significantly.

·      More and more investors are buying residential and commercial premises for the purpose of resale - due to this, demand is growing.

Damac Hills area

Damac Hills is a fashionable community in the heart of Dubailand. The construction of a residential complex with an area of 3.9 square kilometers was carried out by the developer Damac Properties. He is known for the construction of exclusive complexes of residential and commercial real estate.

The cost of selling apartments (in US dollars):

·      studios - 131,775;

·      with 1 bedroom - 197 119;

·      with 2 bedrooms - 335,157;

·      with 3 bedrooms - 478,096.

Average sale price of villas and townhouses (in US dollars):

·      with 2 bedrooms - 454,953;

·      with 3 bedrooms - 493,070;

·      with 4 bedrooms - 576,928;

·      with 5 bedrooms - 1 230 362;

·      with 6 bedrooms - 1 321 571.

Prices make Damac Hills especially perfect for those who plan to invest in real estate in Dubai.

All properties in Damac Hills are surrounded by comfortable walking paths immersed in greenery. Residents of the community have no inconvenience with visiting educational institutions, medical institutions, restaurants and shopping and entertainment centers, most of which are located in neighboring areas of Dubai.

Real estate in Dubai

If you want to buy a home, office building or house in Dubai for your own use, investment or business development, Emirates. Estate website will always have great deals. The offers will suit any budget and housing preferences, so go over to the website and have a look!