The Estimates and aspirations for the Dubai real estate market in 2022

Dubai real estate market in 2022

Dubai real estate market in 2022

The United Arab Emirates has a high level of trust, making it one of the most appealing nations for investment and living. As a result of the increasing demand, the issue of the property market crisis was eventually resolved. Currently, the UAE has a large number of real estate agencies.

Wealthy investors were able to observe for themselves the great quality of life in the UAE as soon as the international borders were opened, as well as the effective eradication of the epidemic.

As a result, sales of affluent and costly Dubai real estate have increased.

Dubai property market data for 2021

In the emirate, a total of 52,415 investors purchased 72,207 new residences. In 2021, the property market saw 84,772 transactions worth AED 300 billion.

According to the annual transaction report released by the Dubai Land Department, the emirate had a 65 percent rise in the number of property sales and a 71 percent increase in value last year compared to 2020. (DLD).

According to experts, the worldwide pandemic had a favorable influence on the United Arab Emirates’ growth. The government has demonstrated that COVID-19’s effects can be effectively countered. While demand is declining in other nations, it is increasing in the UAE. According to experts, in the last two years, investors have preferred to invest in property with a huge area and numerous facilities for a high level of life. Demand for luxury real estate is increasing at the same time as prices are rising. This is especially true in regions like Arabian Ranches, Palm Jumeirah, and Emirates Hills.

The largest transaction value was around AED 28,6 billion in Dubai Marina, followed by Palm Jumeirah (AED 26,6 billion).

What can we anticipate from the real estate market in 2022?

According to experts, the recent Dubai real estate market boom will continue in 2022. And the key lies in the same factors that caused the market to bounce and achieve new highs in 2021.

The overall value of property transactions in the preceding year was AED 177 billion, up 88 percent from the figure in 2020. Housing sales prices are now rising, which is good news for sellers: they can sell their homes for the price they want without having to offer a discount to potential purchasers.

According to the majority of analysts, the increasing trend in real estate values will continue in 2022. Furthermore, some analysts predict that new records will be established this year. The reason for this is due to a combination of three factors:

  • a small number of submissions (especially in prestigious areas),
  • mortgage rates that are low,
  • as well as international investor interest

While market volatility is expected in many nations, Dubai provides a haven for rich individuals and expats. Simultaneously, the government is continually proposing several measures that would substantially ease the process of relocating to the UAE and acquiring a residency visa.

In the property sector, the year 2022 will mark the start of a new era.

The real estate sector began its active operation on the first day of the year 2022. Real estate worth USD 698 million were sold in just one day. The overall number of transactions was 227, according to data from the Dubai Land Department. At the same time, the total amount of all transactions in the first week of 2022 was USD 1,97 billion.

  • It’s also worth noting the relationship between different forms of housing.
  • On the first working day, 12 land plot sales transactions were completed (their total value was USD 451 million).
  • A total of 161 deals involving villas and flats were completed (the total value was USD 530 million).

The greatest transaction was the selling of homes on the island of Palm Jumeirah — the units were sold for USD 136 million. A USD 134 million purchase in the famous Dubai Marina took second place. The third-largest transaction in terms of overall value — for USD 109 million – was also completed here.

The Jebel Ali First area saw the highest number of transactions in the first week. There were 23 payments totaling USD 4.9 million in the region. The Business Bay region came in second in terms of the number of payments received. The total value of transactions in this area was USD 6,81 million, however, there were only 21 of them.

When is the best time to purchase property in 2022?

The property market has changed dramatically in the last 12 months. And many investors today are stumped as to when is the optimum moment to invest. It’s worth mentioning that a specific circumstance has occurred today for the first time since 2016. Developers say that there are no issues with having too many proposals. The great majority of organizations are now attempting to focus on the implementation of truly well-thought-out initiatives that will set them apart from others, rather than launching off-plan mass ventures.

It’s interesting thinking about the extra Dubai real estate market stimuli that were seen in 2021. Foreigners can now:

  • Obtain 100% ownership, do business freely, and apply for pension, green, and gold visas.
  • It’s worth noting that last year, a distinct trend emerged: many tenants changed their status and became property owners in the UAE.

When it comes to luxury real estate, experts concur that delaying may only cost you. Prices in this category have been steadily rising. Simultaneously, a scarcity of proposals is foreseen. As a result, prices will grow at an even faster rate. Other real estate categories are in a similar condition. The remainder of Dubai has seen price rises as a result of Expo 2020.

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