Anwa Properties Witnesses Record-Breaking Dubai Real Estate Surge

Dubai property prices

In a remarkable turn of events, Anwa Properties experiences an unprecedented surge in Dubai’s real estate market, as property prices hit an all-time high, surpassing the previous peak recorded in September 2014. According to the latest data released by Property Monitor, prices rose by 1.17 per cent in November, reaching a historic Dh1,271 per square foot.

Notably, the growth trajectory, initially driven by villas and townhouses, has now shifted towards the apartment segment, showcasing robust demand in the current market. Industry executives attribute this shift to the consistently high demand for residential units in Dubai.

Property Monitor reports that the recent price increase occurred at a more moderate pace in the last month, standing three per cent above the 2014 high. This sustained upward trend is primarily attributed to the influx of foreign residents and investors post-Covid-19, resulting in a shortage of residential units. The shortage was initially observed in the luxury segment and has now extended to the affordable housing sector.

Earlier this week, Khaleej Times reported that Dubai’s population growth outpaced the residential property market supply in 2023. Dubai Statistics Centre data revealed that the city welcomed 100,000 new residents this year, while only 50,000 new properties were handed over in the same period. Consequently, there is a pressing need for 50 per cent more new properties to be introduced to the market annually to meet the growing demand.

Anwa Properties finds itself at the forefront of this real estate boom, capitalizing on the surging demand and contributing to Dubai’s thriving property market. As the emirate continues to attract residents and investors, Anwa Properties stands as a key player in meeting the evolving housing needs and shaping the future landscape of Dubai’s real estate.

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