The cost of residential property in Dubai as of June 2021 continued its monthly growth with an increase of 1.5% to 69 points and amounted to 5.5% YTD. The current cost of one sqm of residential space in Dubai is close to AED 924.
According to experts, the trend in the Arab real estate market is for European buyers to become the main demographic driving sales, with the majority of them being end-users. Many of the overseas homebuyers are pursuing the goal of moving their entire family to the UAE for permanent residency. In this regard, changes began to take place in the mortgage lending market, namely a reduction in the interest rate on loans to purchase homes.