Many residents of Dubai who purchased real estate during the Covid pandemic and shortly after are benefiting from the city’s rising real estate values; some have made as much as Dh15 million from the sales of their apartments.<\/p>\n
Lewis Allsopp, Chairman of Allsopp and Allsopp Group, stated, “We’re witnessing a notable trend of property flipping, especially in central areas like DIFC and Downtown Dubai, while many buyers from 2020\u20132021 are holding onto their investments due to significant market improvements.”<\/p>\n
Property prices in Dubai have skyrocketed over the past three years due to the influx of thousands of foreign residents, many of whom are High Net Worth Individuals (HNWI).<\/p>\n
According to Louise Heatley, owner and managing director of Exclusive Links Real Estate Brokers, certain locations have better-selling profit margins than others. “From a conservative perspective, profits have surpassed 30 to 40 percent,” the speaker stated. Mansoor Ali, a resident of Dubai, is one such individual who renovated and sold his home. In 2021, he paid Dh3 million for a home in Dubai Hills. He added lovely landscaping and a pool to the house in three years. In addition, he added an additional bedroom to the house’s first floor. He made a profit of more than fifteen percent when he sold the villa for Dh8 million earlier this year.<\/p>\n
Emirates will take Delivery of its First A350 in October<\/a><\/p>\n