The forecast for 2024 anticipates a 15% growth in Dubai's real estate market
In 2024, Dubai's real estate market is poised for significant growth, estimated at approximately 15%, driven by robust demand, a thriving economy, and heightened foreign investor interest, as per AI-driven research conducted by Realiste, a specialized prop-tech firm in real estate investment solutions. Conversely, London's property market is expected to face continued declines due to factors such as surging fuel and energy costs, escalating inflation, and tax hikes, which have squeezed household budgets, making real estate investment more challenging. The recent downward revision of the UK's economic growth by the International Monetary Fund (IMF) exacerbates London's real estate market woes. Realiste's AI analysis also identifies specific areas within Dubai, including Business Bay Second and Palm Jumeirah, set to witness substantial price increases in 2024, further enhancing the attractiveness of real estate investments in these locales. Additionally, this study serves as a valuable tool for stakeholders and investors seeking insights into the evolving dynamics of the global real estate market.