As the economy is recovering from the global pandemic, property prices in Dubai have started rising in the last two quarters in 2021. With the country loosening the Covid restrictions, Dubai saw a surge in demand for housing. The real estate market fell, and the prevailing interest rate was low compared to standard times, which helped buyers to grab the opportunity. Consequently, the demand for residential apartments increased significantly, which boosted the growth of the overall construction industry.
Moreover, the construction market has witnessed a rise in the sale of properties in Expo 2020 Dubai. Buyers have bought thousands of apartments in Dubai from the start of the Expo 2020. Over 12 thousand properties worth more than AED 30 billion have been sold from October to November. This includes more than seven thousand secondary or ready residential units.
Apart from the Expo, government initiatives through new visa programs, better regulations for inviting foreign investments, loosening the COVID-19 restrictions, and the successful vaccinations are the parameters that indirectly helped the growth of the construction industry in Dubai.
On the other hand, the rental market in Dubai has witnessed 3% and 6% rise in rents for apartments and villas, respectively. This can be attributed to the pandemic induced remote working and increased demand for spacious apartments.
Though apartment prices dropped during the pandemic, in some popular areas of the emirate, the rent rose by 20%. Since housing rent has been increasing, new constructions may start to gain from the opportunity. From all these factors, it can be estimated that demand for new residential constructions will witness substantial growth in the next four to six quarters.
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If you are planning to make some changes in your present residential property as well as work place, then its best you may choose the right construction company.
An architect is a professional who is of great importance when you are constructing any project.
For the success of any home project and refurbishment, construction firm plays an essential role.
This is because they occupied from the conceptual stage of the project right through to the actual construction, development, designing and completion of the project in an efficient manner.If you are finding a best way that can bring your vision to reality, then hire an expert Group Villa / Town House Contractor in Dubai.
Here are top reasons behind to hire a contractor are as follows:If you decide to make some changes in your property then its best you choose the prominent contractor who is well furnished to design an outdoor living space that will not only add value, but also enlarge your living space while allowing you to enjoy all that nature has to offer.A big benefit of hiring housing contractor is that they’re trained to think about landscapes as systems.
They will evaluate your property’s problem areas as well as possibilities and create a strong plan that addresses both the exact details and big picture of how your landscape will look.For those who are searching for low-maintenance gardens, native plants are the way to go and a contractor has the ability that will integrate them into your landscape design.The proper placement of large shrubs and trees can actually lower energy bills by reducing heating and cooling costs and a knowledgeable architect knows precisely where they should be placed.Most of the time well-known contractor companies have their own designer’s architect who will make a properly placed rain garden for backyards that might experience seasonal flooding.An architect work with you to create a beautiful and all-natural backyard pool.If you may choose the right contracting company then its architects, stay concerned with the construction and follow through.Architects of any leading contracting company strive hard to deliver a finished project that you love but also comply with codes and regulations.
