. Restaurants and bars are heaving. Rush-hour traffic is back to pre-pandemic levels. Public transport moved a record number of passengers in February.
Official inflation figures for 2022 showed just a 0.6% increase for housing and utilities, which make up 41% of the consumer-price index. These track all leases, however, so do not reflect recent rises in rents; many in Dubai are feeling steeper increases. Apartment rents rose by 28% in the year to February, to almost 100,000 dirhams , estimatesThree factors explain the surge. One is demand, from Russians and other new arrivals. Many seek to live in Dubai’s most fashionable areas. .
Dubai’s property market has much to recommend it, from low taxes to a vast pool of would-be renters. But some wonder if the sector, the backbone of Dubai’s economy, is again becoming a bubble. The city has already endured two real-estate crashes this century: an abrupt one during the financial crisis in 2008, when property values fell by half, and a slower one from 2014 to 2020, when they slid by 35%.
And? Do you have some editor that made a bad investment that he's trying to offload?
This is not true, there is a slight increase but this statement is highly exaggerated. You'd even be at a loss inflation adjusted if you bought property in Dubai 2 years ago in Palm Jumeirah.
oh god the Russians can have that SH ... all of it RWMann
Russia is doing better while the West suffers more. Our leaders and elites know what they are doing to us.
One man's loss another man's gain.
Not in England ours going down in the UK and not rent
Dubai's strategic location, thriving economy, and favorable investment climate make it an attractive choice for investors worldwide!
All those sanctions are working so well… good job Joe and Hoe.
Dirty Russian money?
Would you live in Russia? With Joe having declared WWIII?
I bet you’ll have a smile on your face and be so happy to cover bull sh*t when your rights are stripped because the Country that gave you your “freedom of speech” sold you out to the enemy. You all are sooooo smart 😂
As the world number one Currency. Seems a little f****d up, right? But let’s keep promoting a hike in prices while China takes over our Country and dominates our currency. I bet you’ll like it when Communists come in and tell you to shut your f*****g mouth and take it in the a$$
Wouldn’t it be cool when journalists stop advertising a hike in prices when a 1/3 ofthe workforce is missing and we are about to go into a recession?!?!? And China is talking over American landscape in such large fashion and no one gives a shot as they try to take over
Crazy real estate market running hot for 20 years with a brief 2009 interruption.