Des: Trends of the Dubai real estate market 2022. Increase in the growth rate of sales of off-plan housing. Where to invest in Dubai real estate market in 2022.
Property in Dubai
Experts say that soon the Dubai housing market will definitely continue to grow. And the main factor that allows us to say so is the record growth in sales compared to the last quarter of 2021. If you’re looking for villas for sale in Dubai the UAE or a job in a cosmopolitan city that’s strategically located on the global map, then look no further – the city not only offers world-class comfort and luxury but also tax-free salaries so you don’t slash your budget on your way to the fulfillment of your dreams.
Trends in the real estate in Dubai
Why are property experts confident that 2022 will be a record year for the Dubai market, and that investors will be able to maximize profits when buying properties? This becomes apparent when analyzing current trends in the real estate market.
- First of all, a significant increase in the number of buyers who purchase real estate with their own money, without using a mortgage, can be identified as a trend.
- An important factor is an increase in sales of off-plan real estate.
- There were 6,432 transactions registered on the resale property market, with the largest sale of a property for AED 69 million, equivalent to AED 18.79 million. At the same time, for the same period in 2021, 3,280 transactions were recorded, and the maximum value of the real estate was AED 43 million.
If we analyze the Dubai property market in more detail, we can see an increase in sales of premium properties, whose value is more than AED 10 million (equivalent to USD 2.72 million).
Since the beginning of 2022, 95 transactions have been registered. In the first quarter of the previous year, the number of transactions was significantly lower – 25. And this state of affairs indicates the continued growth of the real estate market, which attracts investors from all over the world.
Properties for sale off-plan in Dubai
Experts report that sales of housing under construction in Dubai exceed sales of finished properties. It was in the first quarter of 2022 that specialists recorded the highest sales of off-plan real estate.
Previously, many experts argued that 2022 would be a record year for the Dubai property market. And the results of the first three months of this year testify to this. An excellent result at the beginning of the year was the sale of an expensive premium villa, whose price was a record – AED 280 million and USD 76.23 million, respectively. Remarkably, this one property topped all of last year’s records, when total sales were AED 100 million.
Luxury real estate sales statistics allow experts to predict the situation on the market in 2022. Overall, the number of transactions increased by about 11.6% year on year. As for prices, their growth is at the level of 16.3%.
However, such growth is unlikely to surprise property professionals. And this is due to a significant lead in demand oversupply. It is enough to analyze the housing situation in the Emirates Hills and Palm Jumeirah areas, as the limited supply becomes obvious. But at the same time, developers still offer potential investors new premium projects with a high standard of living.
Real estate agency in Dubai
Do you want to make money on real estate or just want to move to Dubai? Ax Capital agency will become your assistant: they will find the best offers, help you draw up the necessary documents, and fully support the transaction.