From January to September 2021, 12,175 apartments and 1,600 villas were commissioned on the market. It is expected that 8,000 new apartments and 1,300 villas will be built on the market by the end of this year or early 2022.
Overall, the real estate market in Dubai has been growing since late 2020, when most of the quarantine restrictions were lifted. The construction of villas in the first half of 2021 continued with overall growth in the second half associated with Expo 2020.
It was the high expectations of Expo 2020 that led to a significant rate increase in the third quarter. However, the Expo will end in March 2022, and there is a high probability that this will not be enough to sell new properties.
Sales prices, according to Asteco, should be much better and provide significant growth in 2022. Villas continue to play a major role in this segment. The annual price increase was 37%.
According to data from DLD (Dubai Land Department), the property worth about $871 million was sold in the last week of November.
