Results of the real estate market in Dubai for 2022

Dubai is a popular tourist destination that offers investors and local residents interesting and profitable real estate deals. The city has a variety of attractions in all key areas, from historical sites to entertainment venues and resorts. Thanks to the developed infrastructure and high demand, the rental and cost of real estate in Dubai in 2022 increased significantly. Despite the difficult global situation in recent years, the UAE has been able to stay afloat and even showed growth in many areas. If you want to know more about the results and prices for real estate in Dubai in 2022, then in this article our experts will share the necessary information.

Dubai real estate statistics

The UAE real estate market showed no signs of slowing down in 2022 despite problems with geopolitical tensions and inflation. On the contrary, analysts noted a higher level of activity both quarterly and yearly. In the second quarter of 2022, transaction volume increased by 9% and 44%, respectively. The local real estate sector showed strong performance in the 3rd quarter as well. A study of Dubai's office sector showed the following: the total number of commercial Ejari (lease agreement) registered in the 3rd quarter of 2022 increased by 47.6% year on year. As a result, rents in all segments of the Dubai office market increased by an average of 11.7%.

The residential real estate market in Dubai in 2022 (until September) showed an average price increase of 8.9%: the average cost of apartments increased by 8%, and the cost of villas - by 14.3%. Over the same period, average rentals recorded the highest growth rate ever recorded, with average rents in Dubai increasing by 26.6%, while average rents for apartments and villas increased by 26.7% and 25.5% respectively. The results of 2022 in the Dubai real estate market are such that over 20,000 new housing units have been built in the emirate. Another 30,000 facilities under construction are expected to be completed by the end of this year, and possibly rescheduled for 2023. The total transaction volume in the Dubai housing market reached 8,020 transactions, which was 47% more than in 2021. In the current year until September 2022, the total transaction volume reached its highest level since 2009, reaching a total of 63,143 transactions (up 56.2%).

Real Estate Market in Dubai in 2022: Analysis and Results

A combination of high oil prices, far-sighted policies of the UAE government, the spread of mega-projects in the wider Gulf region are factors that guarantee a stable attraction of investors to the Dubai real estate market. In addition, continuous investment in the city's innovation ecosystem continues to create more jobs and thus attract more people. Thanks to the outstanding results of the 3rd quarter of 2022, the real estate sector achieved unique results, surpassing the market peak in 2013 by as much as 13%. Prices real estate has continued to grow at an unprecedented pace since the beginning of 2022, with growth becoming quite robust. According to DLD data, the second quarter saw the highest quarterly sales volume in 10 years. Analysts suggest that the Dubai real estate market will continue to develop at a stable and dynamic pace in 2023.

Do you want to get a more detailed analysis of the real estate market in Dubai in 2022? UAE Assets employs qualified specialists who can advise you on all issues of interest without any problems. We have been working with the local real estate market for many years, so we are well acquainted not only with the country's legislation, but also with the best developers in the UAE. If you are planning to buy property in Dubai, then a specialist will help you prepare the documents and complete the transaction in accordance with legal requirements. Finding the right option will also no longer be a problem: UAE Assets agents will select and offer the right option that meets all your needs. To contact us and sign up for a consultation, use the contact phone number or fill out an application for a call back on our website.