Dubai

Area: Dubai Marina

Overview

Population: 5,658,000

Market Report - Dubai:

In September 2022, Dubai home prices were up 11.3 compared to last year, selling for a median price of £511,232. On average, homes in Dubai sell after 53 days on the market.

Market Report - Dubai Marina:

In September 2022, Dubai Marina home prices were up 12.6% compared to last year, selling for a median price of $1.2M. On average, homes in Dubai Marina sell after 47 days on the market

Tourism Report

Dubai tourist revenue surpassed $5 Billion in the first half of this year, compared to $3 Billion last year. Over 7 million international visitors visited Dubai during the first half of 2022, this is a 183% year-on-year increase. During the first half of 2022, the average daily rate was $154, the occupied room nights reached 18.47 million, this makes Dubai the third largest in revenue per room after Paris and New York.

Tourist Demographics

• The average size of the party: 2-1

• The average length of stay: 4.8 nights

• The average age: 45.6

• Male: 58.4%

• Female: 41.6%

Short-Term Rental Reports - Dubai Marina:

Developers in Dubai are currently offering 8-10% on a 12-year guaranteed lease.

Property Demographic

Property Demographic - we are looking to purchase a 2 bedroom/2 bathroom unit, prices for this type of asset are valued between £450,000 - £500,000

Yield: 10 - 12%