Dubai Real Estate Set To Pick Up Growth; Transactions Exceeds Dh180B
Real estate sustained steady growth trend even during the pandemic and pick up growth momentum as investors face no major restrictions to visit and invest in the UAE.
Views
- Expected high momentum in relation to demand for end-user as well as investment properties in Dubai. The pandemic restrictions have not dampened the market as a record number of sales continued during the last 21 months. But this trend could change due to the rising cost of living, increasing mortgage rates, stronger US dollar, and anticipated new supply.
Sale Transactions
1. According to Latest Data by DLD, the total sales value exceeded Dh180 billion with more than 67,000 transactions during the January-September 2022, making it the largest sales value ever during the first nine months of the year.
2. Emirate recorded Dh116 billion highest sales in the similar period in 2009.
Covid Related Restrictions
- No Covid limitation will encourage more travellers. More in-bound visitors and visitors means Dubai real estate will get a boost.
- Dubai real estate market gained over early 2022 continues with robust growth witnessed across performance indicators for all asset classes.
Villa Demands & Luxury Segments
- Reason for increase in villa prices and occupancy rates reflect the strong demand for villas thereby creating a supply deficit. T
- Need for larger unit types, especially villas and townhouses having sufficient usable outdoor space with masterplans offering a variety of amenities and a sense of strong community remains a key decision driver for many residents, particular for families with children.
- Demand for the villa and luxury segment did pick up during the pandemic as people were looking for bigger and better working spaces due to the change in lifestyle and work schedules.
- Ultra-luxury segment will grow at a slower rate, however beach front properties are expected to continue the growth, mainly because at the moment the demand for beach front properties is high while supply is limited.
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