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- The ultra-luxury sector remains dominant, with strong demand for plots in established communities and off-plan transactions for Branded Residences
- Laguna’s early success in 2022 driven by Dubai’s robust performance amidst global uncertainty and inflationary pressures
Leading luxury residential agency Laguna Properties today releases its predictions for Dubai’s real estate market in the final quarter of 2022. The sentiment is that of a ‘golden run’ for Dubai’s luxury residential sector, with investors attracted by the Emirate’s safe-haven status, reputation for resilience and opportunity for medium to long term growth, amidst a global context of uncertainty, inflationary pressures, interest rate rises and geo-political tensions.
“Laguna Properties is a new brokerage firm in the UAE, founded by seasoned estate expert Hamed Ghavidel. The company has enjoyed early success since establishing in early 2022, covering both residential and off-plan sales and leasing and with a deep knowledge of Dubai’s developers, market trends, project launches and investment insights. To date, the company has carved out a niche as agency to watch in the super prime sector, representing most of its properties on an exclusive basis, within the Downtown Dubai, Dubai Hills and Palm Jumeirah areas.”
Laguna’s key predictions in the luxury residential market for Q4 2022 include:
- Ultra-luxury
International buyers are driving demand for superlative properties that reflect the best of Dubai’s love of luxury, array of breath-taking locations, outstanding views, and outstanding quality.
- Branded Residences:
Off-plan demand for new launches, such as the Six Senses Residences, The Palm Dubai, or the ongoing interest in the Atlantis The Royal Residences underlines the premium value a global name adds to a residential project.
- Plots:
With the right guidance, developing a villa from a plot can be a rewarding investment process. Laguna has successfully transacted plots in Dubai Hills that have doubled in value in the space of 18 months.
- Apartments:
Apartments remain very competitive, priced comparatively with 2014 levels. We are encouraging clients to look for value on the Shoreline of the Palm Jumeirah and in Downtown Dubai.
Laguna’s sales team is led by Sergiu Sobetchi, Head of Sales, who was previously with Hamptons International, with over a decade of UAE-based broker experience. Sergiu comments, “We work with discerning, international clients, mainly from the UK, Europe and Russia, who are pushed to the UAE as a result of sluggish markets in the EU and UK, rising inflation, geo-political tensions and recession worries. Here, they are welcomed by the investor-friendly attitude of the UAE; the enhanced safety, exceptional growth, and abundant opportunities that the UAE provides as well as recent regulatory moves such as amendments to golden residency visas for real estate investors. Our clients are looking to invest for work, or to find long-term residences, so are focused on well-priced plots, off-plan branded residences and villas. We are adept at securing properties before they hit the wider market, to ensure long-term uplift and to deliver maximum value to our clients.”
He continues, “with the support of its visionary leaders, Dubai has built an impressive reputation during the pandemic for its ‘safe-haven’ status, which has since evolved into an enduring sense of credibility, compounded by the strong federal budget and economy. The pace of the market in the past few months has been relentless, with Q3 continuing to set new sales records across villa, apartment and off-plan transactions, and we see this theme continuing for the rest of the year. We expect record-setting transactions to continue in this golden year for real estate, meaning that 2022 will be the best year on record for Dubai’s super prime market.”
