Dubai continues to dominate uae property market
Demand for Dubai is booming, according to TheMoveChannel.com's new At a Glance infographic. The report, which compares activity on the site in the 12 months to February 2015 with the same period two years ago, reveals that Dubai dominates activity even more, thanks to the market's rapid recovery. Dubai now accounts for 96 per cent of all UAE property enquiries on TheMoveChannel.com, up from 87 per cent in the 12 months to February 2013.
Its closest rival is Ajman, which accounts for 1.83 per cent of enquiries, up from 1.75 per cent two years ago. Abu Dhabi and Ras al-Khaimah follow, receiving 0.79 per cent and 0.56 per cent of enquiries respectively. Sharjah and Umm al- Quwain completes the top six, with 0.32 per cent and 0.16 per cent of activity respectively. The other emirates received no enquiries at all in the past year, as Dubai eclipsed its neighbours.
Rising confidence in Dubai has spilled over into other emirates, though, with interest rising significantly in Sharjah. The city was the most searched-for location on TheMoveChannel.com in the UAE in the 12 months to February 2015, accounting for 13.71 per cent of searches - up from 9.54 per cent two years ago. That increase in popularity was enough to overtake interest in Dubai Marina, which dropped into second place, accounting for 12.12 per cent of searches (down from 27.89 per cent).
Despite the growing interest in Sharjah, though, Dubai dominates buyer wish lists, accounting for nine out of the 10 most searched-for locations. Popular hotspots include The World, Downtown and Dubai Sports City, which all saw overseas interest increase, while demand weakened for Arabian Ranches and Jumeirah Lake Towers.
The At a Glance report also analyses buyer behaviour on Google, revealing that Dubai's desirability extends outside of TheMoveChannel.com. Overall searches for "UAE property" on Google declined 31 per cent in the 12 months to February 2015 compared to the same period two years ago. Searches for "Dubai property" also fell in three out of four quarters in the 12 months to February 2015. Nonetheless, searches for specific types of property ("houses for sale in Dubai", "apartments in Dubai") and "Dubai estate agents" all increased.
TheMoveChannel.com Director Dan Johnson comments: "Dubai's property market rebound from the market crashhas been remarkable. Price growth has since begun to moderate, helped by the number of new developments launching. Buyers remain keener than ever, though, as the emirate accounts for almost all of the UAE activity on TheMoveChannel.com.
"Dubai's confidence also appears to be rubbing off, as buyers look elsewhere, such as Sharjah, for other booming opportunities. This trend will be encouraged by the number of properties coming onto the market: listings in the UAE have risen 19.7 per cent on TheMoveChannel.com in the past 12 months, with the number of properties for sale in Ajman doubling year-on-year in February 2015 and the number of property listings in Ras al-Khaimah up 11 per cent. Dubai continues to dominate here as well, though, with the number of investment opportunities jumping 22 per cent."
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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