The Best Time To Buy Property In Dubai in 2022, Dubai's property Market Delivered Big
Real Estate Market in Dubai & New Transactional Records
- Total sales were sitting at a cosy Dh177.44 billion, up more than 88 per cent from the sales figures in the entirety of 2020.
Trend Continuing in 2022
The property market in Dubai was driven by three key factors last year – more international investors, lower supply (especially in prime neighbourhoods) and low interest rates.
Goverment Providing Safer Hands
- Omicron variant has sent ripples of uncertainty across the world again.
- UAE continues to provide a safe haven for the global community.
- Case numbers had gone up at the tail end of 2021.
- Government measures and a focused drive for booster shots are carefully implemented to provide a level of personal safety.
Two factors – Low Interest/Mortgage Rates
- Above factors really propel the market.
- Markets crashes have been tied to the finance sector.
- Unregulated banking practices led to the global economic crisis of 2008, which caused banks to tighten their purse strings.
Something That Has Not Been Easily Achievable for the Past Several Years
1. Low home prices and readily available lending options collided to create a bubbling volcano and demand for property erupted, unleashing a lava flow that supply couldn’t outpace.
2. Investors have a winning proposition on their hands. Anyone who bought property when prices were low will be able to sell it for a profit.
3. Furnished and upgraded homes are the top of the list for new buyers, the fact of the matter is that any home priced to match the market will sell at a higher price point than it was purchased.
Gamechanging Year for Dubai Real Estate
- Market conditions are aligned in a way that they have never been in previous years, and there are many benefits to be reaped here.
- New York recording a phenomenal uplift in transactions over the course of 2021, especially at the market segment priced $4 million or higher.
- Dubai offers up to three times the square footage for that price, is an ideal choice for home buyers and investors at this time.
- Housing prices in Dubai might rise by 2.5-3% in 2022, and the estimate revised to approximately 5% - a sign of growing confidence in the market, new variants and other factors notwithstanding.
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