Most buyers are focusing on off-plan residential units, according to Property Finder. Villa and apartment purchases in Dubai reached a record high in July, with total transactions for the month increasing nearly 57% in value compared to the previous year. The market recorded over 17,000 deals valued at AED 55.5 billion ($15.1 billion) last month, marking a “record-breaking month,”...
August 2024
: I am looking to invest in an off-plan property in Dubai. Once the handover is completed, is the developer responsible for the work done? If there are any construction faults like leaky roofs etc, will the developer be required to fix it? : In Dubai, Article (40) (a) and (b) of the Law No. (6) of 2019 Concerning Ownership of Jointly Owned Real Property in Dubai states that a developer is responsible for...
Rents in Dubai are expected to keep rising, but at a slower rate, as the market begins to show signs of stability, with more rental listings remaining unchanged in the second quarter of this year. Data indicates that a larger proportion of Dubai residents renewed their tenancy agreements during the second quarter, even as rents hit record levels in the emirate. Taimur Khan, head of research at...