Top Real Estate Property Prices in UAE - 2022
Mar 15, 2022
The real estate market in Dubai has gained its strength back again after Covid-19. Check out the latest property prices in Dubai, UAE.
After the Covid-19 pandemic, the real estate market in Dubai is recovering again this year. In comparison to the 2022 property market, there are more than 50% of property deals. The investors in Dubai show great potential with a strong confidence level while investing in property trends.
There are many reasons that people prefer stepping into the real estate business in Dubai such as getting residential visas and tax exemptions. Moreover, the Dubai government has introduced many new initiatives in real estate prices, selling, buying, or renting a property.
Latest Trends in UAE Real Estate Market
The residential market has gained noteworthy growth in recent times. Moreover, there have been large numbers of unexpected property deals made in Dubai. Let's discuss some of the latest trends of real estate in the UAE market in the following:
Reuters Survey of Real Estate Prices UAE - 2022
- Dubai world fair is going to start in 2022 which has proven highly beneficial for real estate market growth
- According to some professionals, this event has a huge impact on the increasing demand for residential properties
- Moreover, UAE is focusing on increasing tourist activities by expanding Dubai World Central
- People from all over the world such as Pakistan, India, as well as Europe prefer investing in Dubai real estate
- It is because of the amazing real estate policies and property prices Dubai options people
- It should also be noted that Dubai is the only metropolitan country that remained restriction free in pandemic for a year
- This success lead to a rapid boom in the growth of the real estate market and industry
- The increasing growth in population is also a major factor in increasing demands of residential properties
- Also, the luxury properties attract the clients to invest in buying or selling the properties in Dubai
According to a survey conducted by the specialist professionals of Reuters, Dubai property prices are going to rise by 5% in 2022. It should be noted that they predicted a 2.5% growth three months ago which is now doubled. And they expect a further 3% rise in property prices in Dubai in the coming year 2023.
Besides Reuters, Asteco has also predicted a boom in the real estate market this year. According to it, there will be 7-9% increased rental costs, and 9-14% increased surge prices for luxury units. The rental costs will increase for both the residential as well as commercial areas. Moreover, this year 2022 has seen the highest number of property deals in UAE.
Is 2022 a Growth Year for the UAE Real Estate Market?
It's surprising to note that the year 2022 has yet proved the most growing year for real estate prices in Dubai. Even there has been an investment of $698 million in a single day to buy a property in Dubai. Not only this but the year 2022 has recorded one week with $197 billion property transactions.
In the first week of 2022, the 12 property deals cost the highest with $451 million while investing on different plots and lands. Moreover, the buying, selling, and renting of various villas and apartments cost $530 million in a week. There was a deal made on the Island of Palm Jumeirah which is the largest transaction of the year with $136 million. Secondly, there was a $136 million deal for property prices in Dubai in Dubai Marina.
An Upward Real Estate Market Trend Expected in 2022
According to the experts, the boom in UAE real estate market will continue in 2022. There was $177 billion in revenue generated by the real estate market and property prices in 2021. And these deals and revenue were about 90% more than that in 2021. The same is the case this year with the rising property prices in Dubai.
Some experts say that 2022 will set a whole new record in the business of real estate and property in the whole world. The reason is the low mortgage loan rates and tax exemption policies which grab the foreign clients to have an interest. Moreover, the expatriates prefer investing in the best real estate company in Dubai
for getting residential visas.
Ending Note: Now is the Perfect Time to Invest in UAE Real Estate
Judging by the above-mentioned market trends and growth in UAE real estate, it is the perfect time to invest in Dubai. Firstly, hire a realtor for a complete understanding of latest real estate market trends and the price details of properties. Then look for the right project with the preferable location for your investment.
Investing in Dubai real estate is a profitable business for 2022 with reduced risks. So, you can contact the Emirates estate agency for further property details.