Last week, representatives of the Latvian branch of "VIP REAL", Kristians Kikuts and Aigars Meizis, visited the "AG VIP REAL ESTATE" office in Dubai.
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After the commissioning of 72,000 new housing units and the introduction of an updated "Smart" Rental Index.Following the establishment of new benchmarks in 2024, Dubai's real estate market is poised for stabilization as the population grows, with over 72,000 residential units expected to hit the market in 2025.While price growth may slow, demand remains robust. Moreover, the launch of the "Smart" Rental Index in 2025 promises to enhance transparency and fairness in rental pricing, according to real estate experts.
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In November, 1,343 real estate purchase agreements were registered in Riga. This is 6.5% fewer than in the previous month but remains the third-best result of 2024.
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According to analysts, the Dubai real estate market is expecting a successful end to the 2024/2025 business season with strong sales figures, rising home prices and rapid absorption of new supply.
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This data was published by the Central Statistical Bureau (CSB) of our country, which compared sales in mid-2024 and 2023.
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Dubai welcomed 9.31 million foreign tourists in the first half of 2024, up 9% from the same period last year.
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Meanwhile, the apartment and private house markets in Jurmala and Riga, after two years of stagnation marked by falling prices and the number of transactions, have entered a phase of natural recovery. The most anticipated prospect here is the activation of buyers. The professional team at VIP REAL is ready to provide comprehensive and versatile assistance to them and all parties involved in real estate transactions, both in Latvia and the United Arab Emirates (UAE).
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We'll tell you what's happening in the market. Let's start with the main news - villas in Dubai have broken a ten-year record. The average cost per square meter of villas reached $5,860 for the first time in 10 years
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For the third year in a row, the Jurmala municipality will award the historic architecture prize to the owners of Jurmala's historic buildings that were most qualitatively renovated, restored, and rebuilt the previous year. This year stands out with particularly high-quality and valuable projects, according to the organizers of the competition.
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