How the 2033 Strategy Will Drive Property Ownership and Market Growth in Dubai

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Dubai’s real estate market is poised for substantial growth following the launch of the government’s Real Estate Strategy 2033. The strategy aims to boost real estate transactions to Dh1 trillion by 2030 and increase the sector’s contribution to Dh73 billion.

It also targets raising the homeownership rate to 33%, improving transparency, and promoting affordable housing. The post-pandemic surge in property prices and rents, driven by both local and foreign demand, has surpassed the 2014 peak, making homeownership increasingly attractive.

Key initiatives of the Real Estate Strategy 2033 include varied financing options, reduced registration fees, and tailored mortgage products, which are expected to encourage more residents to transition from renting to owning properties.

Industry experts note that the plan’s emphasis on affordable housing and transparency will attract more investors and residents to the market. The development of new areas in Dubai, combined with diverse residential options and expanded financing solutions, will also make property ownership more accessible.

Industry leaders are confident in the market’s continued growth, as evidenced by rising property transactions and a notable shift toward owner-occupancy. The expansion of the luxury real estate sector, fueled by more financing options, and the emergence of affordable housing are expected to foster long-term investments and economic stability.

Moreover, advancements in technology, data analytics, and proptech will enhance decision-making and transparency in the market.With vast land availability and the government’s effective urban planning, Dubai is positioned to offer a range of property options catering to diverse price points and lifestyles, further boosting property ownership in the coming years.

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Source: https://www.khaleejtimes.com/business/realty/dubais-new-real-estate-plan-why-more-people-will-buy-properties-in-coming-years