Dubai Real Estate Booms as Population Reaches 3.55 Million

Dubai Real Estate Booms as Population Reaches 3.55 Million

Feb 17 2023

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Dubai’s rising population growth is set to significantly benefit the emirate’s real estate market with the figure officially hitting the 3.55 million mark in 2022. As a result of this rapidly rising number, several new residential developments are being launched regularly across the city, by a variety of renowned developers. Some of these projects include but are not limited to Ritz Carlton Residences, Safa One, Safa Two and many more. 
The rising number of residential developments launching has increased foreign interest in Dubai’s real estate market with more investors from across the globe wanting to harvest the emirate’s property potential. 
There are several factors that attract people to choose Dubai as their home, some of which include the upscale lifestyle the city allows for, the safety residents can enjoy, and the abundant opportunities to grow as a professional in the emirate. This rise in expats making Dubai their second home has allowed for the rental market to experience a boom with the average rent witnessing an increase of up to 27% in 2022. 
With the rising demand of Dubai’s real estate market and the lifestyle it promises to visitors and residents, these impressive numbers are only predicted to increase in the near future. The city will witness a significant jump in foreign investors, job-seekers, and business owners who see the potential of the emirate and the unmatched lifestyle it provides. 

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