Real estate sales statistics in the UAE and Dubai

The high level of trust in the UAE makes the state one of the most attractive countries for investment and residence. In turn, increased interest on the part of foreign investors made it possible to finally close the issue of the crisis in the local real estate market. As soon as flights between the countries were resumed, investors were personally convinced of the consistently high quality of life of the emirates, as well as their successful overcoming of the consequences of the pandemic. As a result, this has caused an increase in real estate sales. This investment asset, unlike many others, gives confidence in a stable income, and also has a very low risk of depreciation. If you are interested in sales analytics in the UAE real estate market, then in this article you will find useful information from UAE Assets specialists.

Real estate market trends and price dynamics in the UAE

Dubai is a leader in international investment in residential real estate and continues to be a priority in the international market. Experts attribute numerous initiatives of the local government and high incomes of the local population to the main reasons contributing to the increase in demand. Another trend predicting a large number of expats moving to the UAE is geopolitical instability, inflation and higher taxes. Real estate sales statistics in the UAE and Dubai show growth in all segments of the housing market, despite obstacles such as the strengthening of the dollar in the foreign exchange market and rising interest rates. According to DLD, there were 60% more real estate transactions in the first 6 months of 2022 than in the same period in 2021.

Dubai real estate market trends as well as the needs of potential buyers and investors are constantly changing. Developers try to implement projects, anticipating the desires of consumers. However, the market situation is changing very quickly, which is confirmed by statistics and reports. A particularly high level of demand for apartments is recorded in the Jumeirah area. Here, the average sales per square meter stopped at $6,112. In the villa sector, Palm Jumeirah showed the highest demand, with an average price per square meter of $9,892. Over the past year, the average rent has increased by 21.7%. However, its size depends on the type of property: for example, the cost of renting a villa is growing much faster than the cost of renting apartments. These statistics indicate a steady increase in demand for real estate. And this applies to both investment property and housing that is bought for personal residence.

UAE real estate market in 2023

In 2023, buyers expect an increase in property prices in Dubai. Now the government of the Emirates continues to reform the employment system, offering specialists the most loyal conditions for moving. The country has undeniable advantages in the form of additional benefits for investors, a high level of security and an excellent business climate. It is also worth considering the number of projects that developers announce: a sharp surge in new projects in different segments of the real estate market makes it possible to fully satisfy the needs of potential investors and buyers. Experts believe that over the past 2 years, clients have given preference to investing in real estate, which has a large area and can offer many different amenities for a comfortable life.

Despite the uncertainty of interest rate growth in the UAE, analysts still believe that the UAE real estate market will continue to grow strongly in 2023. It is expected that increased spending on infrastructure, relaxation of laws for foreign investors, new government initiatives to attract investment and announcements of new projects will lead to an overall development of the real estate sector, which will further increase the interest of investors and the competitiveness of major developers, such as Aldar Properties, Emaar Properties, Nakheel Properties, Deyaar Properties and Damac Properties.

If you are planning to buy property in Dubai, please contact UAE Assets. We have a team of specialists who will solve any problem related to the search and purchase of housing in the UAE. Our company has been working with the local real estate market for several years, so it is familiar with the legislation and has the necessary experience in working with residential and commercial properties. To contact our specialists, call the contact phone number or fill out an application on the website. We will advise you on all your questions related to real estate in the UAE.