The analysis of Dubai housing stock sales for 11 months of this year showed impressive results. Compared to the same period last year, the growth was almost 88.4%.
The statistics are as follows:
- 55,640 home purchases from January 2021 to early December.
- The total sales value was over $36.8 billion.
- In November alone, transactions increased by 80%, the best result since 2014.
- Real estate prices in the emirate increased by 21%, and in some popular resort areas, this figure reached 30%.
A successful response to the pandemic and incentives to attract foreign investment from the authorities contribute to market development. These are special conditions for pensioners, the Golden Visa program, and Expo 2020.
What are the prospects for the Dubai real estate market
According to Haider Tuaima, head of the real estate research department at ValuStrat, the current picture will be the same as before. Dubai real estate has potential, supported by local developers. Attractive payment schemes and low mortgage lending rates will help attract foreign investment.