Real estate market in Dubai trends at the beginning of 2022

estate market in Dubai

Property in Dubai There is a constant interest in luxury real estate market in Dubai among foreign buyers and investors. Do you want to have a look at property for sale in Dubai the UAE? Ax Capital real estate agency will be your guide and help you choose the most popular types of properties at competitive prices. If necessary, their specialists will advise you on all issues of interest.

Real estate market in Dubai in February 2022

According to the results of the first quarter of 2022, the Palm Jumeirah artificial island took the lead in the amount of the most expensive property transactions. This became possible, among other things, due to the sale of one of the most expensive properties – a villa worth USD 76,230,000. This villa is located on branch N, and its area is 3065 square meters.

Experts report that out of the top ten most expensive real estate properties, four were sold on Palm Jumeirah. 

  • The second place was taken by a house located on the island of Jumeirah Bay. Its cost was AED 88,200,000, which is equivalent to USD 34,000,000. 
  • Another mansion ranked third, has a value of AED 87,000,000.

After Palm Jumeirah in terms of property transactions, the Emirates Hills area is next. It continues to attract the attention of investors. The only difference is that in this location, buyers prefer to choose villas without any furnishings to create truly exclusive living conditions. And such branded residences also have a very high cost.

Flats in Dubai

There is the official index developed by the Dubai Land Department in cooperation with Property Finder. The results for February 2022 were recently published and they fully reflect the upward trend and growth in demand for real estate in Dubai.

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In total, 6,357 transactions were concluded in February 2022. This indicator made the current February the most efficient and favorable for the UAE real estate market. The total sales amounted to AED 16,280,000. At the same time, it should be noted that there is little dynamics in terms of the ratio between off-plan real estate and finished properties. 

  • The secondary and finished housing sector accounted for 59.6% of all transactions. 
  • As for off-plan properties, they accounted for 40.4% of all sales.

Such statistics allowed experts to draw certain conclusions, based on which it is possible to build forecasts for the entire year 2022. 

  1. First, total sales increased by 71.26% year-over-year.
  2. Secondly, the average cost of off-plan real estate increased by 166%. 
  3. Thirdly, the monthly index price of apartments in Dubai was AED 1,075,996.

All these factors, according to experts, only indicate a significant increase in demand for finished properties. The limited supply in Dubai’s most premium areas continues to be a determining factor, which continues to drive up prices and demand. 

Real estate agency in Dubai

If you need help in choosing real estate in Dubai, be sure to contact the Ax Capital agency. Their experienced specialists will answer all your questions and help you find the most suitable properties for you.

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