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Dubai's luxury property market undergoes a boom

Dubai's luxury property market undergoes a boom

According to the largest news portal Khaleej Times, the Dubai elite real estate sector showed a 40% increase in prices in 2021, indicating a high interest in housing not only from local but also from foreign investors.

According to the chairman of the leading developer of luxury real estate, PNC Menon Emirate has coped with the consequences of the pandemic and is ready to become prosperous in 2022. Dubai became one of the top four cities adapted for family living and proved itself to major investors. Menon noted that attractive visa reforms and successful vaccinations had increased demand. Expo 2020 has become another event that has made the market more stable. Almost 9 million people have already visited the country since it was opened.

Menon makes optimistic forecasts for the development of the luxury real estate market in 2022. It talks about a tempting way of doing business in the emirate, attracting rich people. Many properties, from luxury villas to elite penthouses, make the choice free. Moreover, a lot of significant projects launched at the beginning of the year and the speed of sales indicate that the trends of record indicators will continue in 2021.

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