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Premium real estate is being sold for years to come

Premium real estate is being sold for years to come

According to a number of sources, from 11,071 to 12,119 residential real estate transactions were completed in January–February 2022. This is the highest start of the year in the entire history of observations. This record is a natural continuation of the explosive growth of the market in 2021.

The total value of real estate transactions last year reached USD 35,000,000,000.

In the premium sector, off-plan projects play an important role, that is, real estate at the project or construction stage. The key attention is given to properties that market launch should take place in 2024-25.

Coastal areas such as Emaar Beachfront by Emaar Properties and Peninsula by Select Group have become the most popular.

Despite the assurances of the Emirati authorities about their readiness to carefully monitor the sources of incoming funds, the international organization for combating money laundering FATF placed the Arab Emirates on «Grey List», i.e. a list of countries that deserve special supervision.

The demand for large-sized real estate continues to be high. At the basic level, the main violin is given to the general popularity of Dubai among wealthy buyers, as well as the pandemic practice of chasing spacious housing. But in the current situation, the growth is also supported by European migrants.

Analysts point out that the cost of villas in Dubai has increased by 22% since the beginning of the pandemic.

The UAE authorities paid special attention to the fact that Ukrainian citizens have the right to enter the country without a visa.

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