They emphasized that the presence of visitors at this time supports the sector and gives a great scope for presenting investment opportunities
Realtors: The tourist is a potential real estate investor.. "Winter" has strong effects
Expectations of a 13% increase in luxury real estate prices in Dubai in 2023. Archive
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Real estate agents confirmed that the winter season has a preference in selling in the real estate sector, due to the increase in the number of tourists from all over the world to Dubai, which provides investment opportunities for the real estate market, as the presence of tourists at this time of the year supports the sector, and gives a large scope for presenting opportunities. investment in the sector.
They pointed out to «Emirates Today» that the tourist is a highly potential real estate investor, calling on the concerned authorities in the real estate sector to better promote the winter season, and highlight tourist places for visitors and potential investors at the state level.
They expected the year 2023 to witness an increase in demand for the real estate sector during the first quarter, supported by the continued positive effects of the activities of the winter season, the high number of visitors, the strong effects of golden residency decisions, the state of security, safety and stability, and the injection of liquidity to purchase luxury real estate.
"winter" preference
In detail, the Chairman of the Board of Directors of the "Al-Waleed Investment Company", Muhammad Al-Mutawa, said that "the winter season has a preference in selling with regard to the real estate sector, given the increase in the number of visitors to Dubai and tourists from around the world," pointing to the role of the weather factor in the winter season to think. Meditation and decision-making for the potential investor, especially in the real estate market.
Al-Mutawa added, "The tourist is a huge potential real estate investor," calling on the real estate sector authorities to better promote the winter season, and highlight tourist places for visitors and potential investors at the state level.
Investment opportunities
In turn, the real estate consultant, Muhammad Al-Hafeti, said, "The winter season in Dubai and the UAE in general is suitable for investors coming from cold regions, which provides investment opportunities for the real estate market," stressing that the movement of real estate transactions confirms this.
Al-Hafiti added, "The presence of tourists at this time of the year supports the sector, and gives a great deal of scope for presenting investment opportunities," pointing to the launch of many developers of new real estate projects, which indicates the continuity of demand and positive movement in the real estate market.
Positive effect
In addition, Walid Al Zarouni, Chairman of the Board of Directors of W Capital, said, "The impact of the winter season on the real estate sector in Dubai is positive and strong, amid tourism activity at this time."
He added, "There are a number of tourists who like the weather and want to reside in the Emirates, to turn from a tourist into a resident, whether by buying a property for the purpose of investment, or for the purpose of living and housing."
powerful effects
In the same context, the general manager of the Royal Liwan Real Estate Company, Muhammad Hareb, expected that the year 2023 would witness an increase in demand for the real estate sector during the first quarter, supported by the continued positive effects of the activities of the winter season, the high number of visitors, the strong effects of golden residence decisions, and the state of security. And security and stability, and pumping liquidity to buy luxury real estate.
Hareb indicated that luxury real estate prices are expected to rise by 13% during the year 2023, supported by the multiplicity of cultures and nationalities in Dubai, and the increase in visa categories, which helped attract private talents, increase the flow to Dubai, and the high demand for the real estate sector.
He pointed to the increase in tourism activity and the hotel occupancy rate in the recent period, indicating that the real estate sector is still strong, with the support of the Dubai government, the strong infrastructure for transportation and digital transformation, which helped make Dubai a center for conferences and exhibitions.
"All of this confirms our optimistic expectations for the new year," he said.
Continuous recovery
For his part, the CEO of Elio Real Estate, Zahi Kashou, expected the real estate market to witness a continuous recovery during the first quarter of 2023, based on market indicators in 2021 and 2022, so that the recovery will continue at the same pace, and the market is also expected to achieve record numbers. New, in conjunction with the launch of new projects by major real estate companies in Dubai.
Qashou pointed out that these expectations came based on the government's launch of a package of facilities and laws for real estate investors, such as the golden residency, at a time when state real estate in general, and Dubai in particular, maintained high levels of investment returns in the most difficult circumstances.
Promotion across initiatives and seasons
The managing director of the Harbor Real Estate Company, Muhannad Al-Wadiya, said, "The Emirate of Dubai contributes directly and indirectly to supporting the real estate sector, and is making great efforts in several respects, including promoting the country through initiatives, seasons, celebrations and events that take place in the emirate, Which helps to revive investment, residence and work in Dubai ».
Al-Wadiya added, "All these efforts help promote residency in the city of Dubai, in addition to the efforts of all departments and institutions, which contributes to increasing the number of residents and investors wishing to invest in Dubai."
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