Changes in Dubai: the evolution of real estate
Dubai is one of the main destinations where the luxury segment is concentrated. Also with regard to real estate. For a long time the sector has experienced strong changes but with a single common denominator: transparency, a key element for investors.
But today we have decided to analyze in detail how Dubai's real estate has evolved from 2009 to 2019.
As for the real data, one of the most important differences that characterized the Dubai real estate was the impossibility (now granted) of access to government data on the real estate market. It was unthinkable that one could understand how many units had been sold, the ongoing projects and the state of construction. Currently, however, numerous applications have been made, such as the Dubai Project, which allow us to have a fairly broad background. And not only. These apps have also been programmed to get insights on the real estate market also based on the area. At the base of this change there is a "single need: to guarantee transparency.
Over the years it has seemed evident the need to select and distinguish the old real estate properties from the new ones. Currently, the price distinction appears substantial. You can even get 50% increase per square meter.
Even at the regulatory level, new laws have been introduced to protect both the buyer and the owner of the property. In other words, greater control to avoid any sort of secondary problem.
As far as payment plans are concerned, even during the critical period, no particular collapses were recorded. Thanks to the aforementioned control, which is decidedly more incisive, payment plans have also become more extensive for post-handhovers.
But how much value has the role of VAT assumed in Dubai's real estate?
Enough, considering that it allows an ‘further transparency to the whole real estate system or not. Many have criticized the introduction of VAT, but it must be acknowledged that it has brought numerous benefits, including at an institutional level.
Manforte was however guaranteed by foreign investors in real estate, especially commercial. In fact, many major international groups have decided to set up their own satellite offices in Dubai, creating, in addition to a dense network of contacts, also a satisfactory economic return for this city.
Greater control, the creation of a "success" for investors but also for citizens, the introduction of VAT and the overcoming of old and obsolete logics have allowed Dubai's real estate to emerge again. Despite the critical periods that have overlapped over time.
All of this contributed to giving greater peace of mind to the demand, much more protected by higher transparency.
What to say, it is hoped that these substantial differences compared to ten years ago can increase (positively), to allow Dubai to cut new goals.
But today we have decided to analyze in detail how Dubai's real estate has evolved from 2009 to 2019.
As for the real data, one of the most important differences that characterized the Dubai real estate was the impossibility (now granted) of access to government data on the real estate market. It was unthinkable that one could understand how many units had been sold, the ongoing projects and the state of construction. Currently, however, numerous applications have been made, such as the Dubai Project, which allow us to have a fairly broad background. And not only. These apps have also been programmed to get insights on the real estate market also based on the area. At the base of this change there is a "single need: to guarantee transparency.
Over the years it has seemed evident the need to select and distinguish the old real estate properties from the new ones. Currently, the price distinction appears substantial. You can even get 50% increase per square meter.
Even at the regulatory level, new laws have been introduced to protect both the buyer and the owner of the property. In other words, greater control to avoid any sort of secondary problem.
As far as payment plans are concerned, even during the critical period, no particular collapses were recorded. Thanks to the aforementioned control, which is decidedly more incisive, payment plans have also become more extensive for post-handhovers.
But how much value has the role of VAT assumed in Dubai's real estate?
Enough, considering that it allows an ‘further transparency to the whole real estate system or not. Many have criticized the introduction of VAT, but it must be acknowledged that it has brought numerous benefits, including at an institutional level.
Manforte was however guaranteed by foreign investors in real estate, especially commercial. In fact, many major international groups have decided to set up their own satellite offices in Dubai, creating, in addition to a dense network of contacts, also a satisfactory economic return for this city.
Greater control, the creation of a "success" for investors but also for citizens, the introduction of VAT and the overcoming of old and obsolete logics have allowed Dubai's real estate to emerge again. Despite the critical periods that have overlapped over time.
All of this contributed to giving greater peace of mind to the demand, much more protected by higher transparency.
What to say, it is hoped that these substantial differences compared to ten years ago can increase (positively), to allow Dubai to cut new goals.
