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Dubai attracts tourists and visionaries from all over the world because of its attractions, benefits and lifestyle. That's why Dubai has a few "best of" lists of its own.
The world's most luxurious airport, which is also the 2nd busiest after Atlanta, boasts 86 million passengers a year, and we're just getting started.
The top 1 destination on tripadvisor welcomed more than 17 million tourists in 2023 and over 145,000 new residents who came to make their Dubai dream come true, and rightfully so.
Dubai boasts great numbers when it comes to the country's development, namely 3.53% GDP growth in 2023 and inflation of 3.33%. These conditions create a favourable environment for the country's development and, more importantly, the influx of new residents to this stunning destination.
The main aspect that DubaiReality.cz focuses on is the real estate market, which is experiencing huge growth and interest from foreign investors, who were able to invest in Dubai for the first time in 2002. Since then Dubai has experienced tremendous growth, especially in the form of Palm Jumeirah, Burj Khalifa, Burj al Arab etc.
However, Dubai has experienced a huge boom in the last 10 years, when it was undervalued in Knight Frank and CBRE analyses, but later on it became fairly valued in terms of real estate prices.
Dubai has thus become a centre of interest for investors from all over the world, but mostly from India, China, UK, France, Italy, USA, Germany and Russia. All of these nations make up the top 10 investors for 2023.
In 2023, we recorded over 118,000 real estate transactions with a total volume of over CZK 2.5 trillion (CZK 2,597,181,595,426), an increase of 51% compared to the previous year.
In terms of off-plan projects, 37,600 units were handed over to their first owners in 2023. Also, over 77,000 new units in various apartment complexes have started construction.
The average growth in property prices is set at a range of 6-9% per year according to CBRE, Savills, Knight Frank or Engel Volker. To date, however, we are up a record 19.47% with average property prices. However, growth is expected to be lower in 2024, and within the aforementioned range.
Year on year, Dubai is becoming more popular. And we can't help but look forward to more great developments coming up in Dubai within the next few years. For example, the new Al-Maktoum Airport...
Will you take part in Dubai's growth with us?
