In 2021, the elite property segment in Dubai grew rapidly among other key world markets. According to a report by the consulting agency Knight Frank, this situation will not happen again this year.
Very high growth rates were related to high demand from foreign investors and their confidence and desire to invest in safe assets. These assets were tens of thousands of properties in Dubai and Abu Dhabi.
The Emirate effectively coped with the pandemic, implemented a nationwide vaccination program, and carried out several economic reforms, and other reforms to simplify resident visas for foreign nationals, business licenses, etc.
The results of 2021 were the consequence of distinctive conditions that intersected simultaneously. But there is no reason to believe that 2022 will recreate the same internal and external situation.
This year, Dubai, along with Miami and Zurich, remains the main destination for buyers of premium real estate. On average, real estate prices will rise by 10-12% at the end of the year.
