Foreign investors are interested in obtaining analytical information on the real estate and rental market in Dubai. Here is the latest information for those who are going to buy a villa in the largest emirates to get a passive income.
What to expect in 2022
Prices for premium properties have increased significantly in 2021. This is from 20 to 40%, depending on the area and comfort level of the property. The rent is equal to the cost of selling and buying real estate. It is expected that the peak will fall on the New Year holidays. The rapid growth of demand caused this boom: developers are unable to satisfy all customers' wishes. Even off-plan projects are implemented in the first days after the opening of sales. There are few available villas, and even after the commissioning of new properties in 2022, demand will exceed supply.
According to the director of one of the brokerage companies in Dubai, Firas Al Msaddi, the shortage problem is caused by the lack of ready-made housing stock. This stimulates price growth with an increase in rent by another 20% in 2022. The price increase depends on the location. Several companies offer the "price on request" service for buyers and tenants, as they do not want to waste time on regular cost changes and focus on potential buyers.