- Dubai off-plan residential sales increased by 30% in volume in Q2 2023
- Average rental prices surged 22% through the first six months of 2023
- Approximately 1,000 HNWIs migrate to the UAE every year.
Dubai, UAE: DHG Properties, a renowned Swiss property developer with an extensive track record spanning over three decades, announces that off-plan sales for its flagship residential development in Dubai, ‘Helvetia Residences,’ will commence in September. Located in Jumeirah Village Circle, this project will be a first-of-its-kind in the emirate as it offers premium quality at an affordable price, a staple of DHG Properties since its inception nearly 30 years ago.
After announcing its entrance into the UAE market at the tail-end of H2, DHG Properties’ upcoming project is rising at an opportune time for the country’s residents; with average rental prices having surged by 22% through the first six months of this year, residents are increasingly leaning towards buying versus renting. This was a contributing factor that saw the value of off-plan residential sales in Dubai climb by 38% Year-over-Year (YoY), and by 30% in volume in Q2 of 2023.
Furthermore, given that the Central Bank of the UAE has outlined measures that are designed to curb elevated interest rates on residential real estate loans that are intended for end-users, prospective buyers who are seeking to live a luxurious quality of life in Dubai can turn to DHG Properties. Known for its offerings of top-notch quality in Europe, the company’s JVC-located development will provide premium quality at an affordable price for middle-class investors who embrace an elevated lifestyle.
This is a welcome sign for those individuals who are not a part of the ultra-high-net-worth individual (UNHWI) and high-net-worth individual (HNWI) populations, as recent data cites that Dubai’s luxury property market generated AED 3.1 billion in H1 to outperform major markets such as London and Paris. UHNWIs and HNWIs are propping up this real estate segment, with the former forecasted to grow by 6% through 2028 and the latter typically seeing mass migration inflows of 1,000 people per year. However, these demographics still only make up a fraction of the country’s 10 million-plus population and housing options for the middle class will become increasingly important as the UAE grows in the coming decades.
Blagoje Antić, Founder and Director of DHG Properties, commented: “Post-pandemic, rising interest rates and global turmoil have put increasing pressure on everyone but especially those who are not among the world’s top tax brackets. With it becoming harder for everyone to make a living in today’s day and age, our new project is being launched to help ease this financial burden without buyers having to compromise on what should be a real estate standard regardless of how much income one makes – quality. With Dubai being a city that is known as a forward-thinking nation, we are contributing to this narrative by filling a gap in the market that will help the everyday resident enter the property market while having peace of mind that their money is providing a solid return on investment.”
Dubai’s real estate sector has been on an upward trajectory in recent years and the sentiment among industry experts indicates that this momentum is set to sustain for the foreseeable future. With DHG Properties launching its inaugural project in Dubai in an increasingly desirable location for residents, its provision of quality at a cost-friendly price point will prove to stand as an unparalleled offering. The Swiss developer is expected to announce the exact date for off-plan sales in the coming weeks.
DHG Properties is a Swiss property developer with over 30 years of experience in the European market. Led by its Founder and Director, Blagoje Antić, DHG is set to launch its inaugural project in Dubai later this year. Through its introduction to the UAE market, the company is poised to replicate its success and bring its signature touch of excellence to the dynamic and thriving property market in the country.