UAE: Real estate appetite in Dubai is returning. Here’s a mid-2021 property report card

  • Date: 30-May-2021
  • Source: Gulf News
  • Sector:Real Estate
  • Country:UAE
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UAE: Real estate appetite in Dubai is returning. Here’s a mid-2021 property report card

Dubai: The property market in Dubai is showing clear signs of recovery, research from UK-based data analytics and consulting GlobalData showed, with property developers planning new projects. But how does the buying sentiment currently fare in the region? "Dubai's construction sector is showing tentative signs of a long-awaited recovery,“ GlobalData noted. The city's real estate sector has not been at its strongest in recent years due to oversupply coupled with the impact of global economic slowdown. The analytics firm further added that government-controlled real estate developers are planning new projects in response to rising property prices buoyed by the emirate's recovery from the economic impact of the COVID-19 pandemic. "UAE-based companies such as Nakheel, Emaar and Meydan are in the early stages of planning new projects,“ said Colin Foreman, Deputy Editor at GlobalData's business intelligence division MEED. "These schemes include villa communities and waterfront apartments, two property classes that continue to perform well with strong demand. Villas are performing well, in particular.“ Analysts have been seeing sentiment shift quite significantly and as a result, prices are increasing across the board now, particularly since March this year. On the top end of the market, it's mostly European money from investors seeking