The annual rise in elite property prices was 35.1%, and the demand continues to grow.
The total increase in property prices in the emirate was 33% in January 2022. In annual terms, budget real estate increased by 15.7%, affordable property — by 37.2%, and elite housing — by 35.1%.
The local market attracts many wealthy investors and buyers. The reasons for the emirate’s popularity are the high quality of life.
The economic potential of the country also plays a significant role.
Thanks to Expo 2020, Dubai authorities have attracted lots of individual investors and international companies to the local market to conclude long-term contracts, including in the construction sector.
This has attracted and will attract several categories of wealthy buyers, from highly qualified IT professionals to the top management of large multinational companies.
In 2021, there were 84,196 real estate transactions in Dubai for $82 billion. The main driving force for the growth was the villa segment, with a large share of premium real estate.
Annual sales growth in 2021 was 66%, while the value of all transactions increased by 72%.
In January 2022, the premium market increased by 32%, and 4,083 deals were made. In January 2021, only 3,100 transactions were concluded.
