November-December 2020 marked a turning point in the market recovery after the first and worst period of the pandemic. November 2021 records the results of this fracture.
Between November 2020 and November 2021, there were 55,640 real estate transactions for $36.86 billion. In terms of the total number of transactions, this year was the highest since 2014.
The Dubai Land Department provides this data.
When comparing November 2020 and 2021, the total number of transactions increased by 80% and reached $ 4.88 billion. One of the main reasons is the long-lasting effect of the EXPO-2020, which by December 2021 had already attracted more than 6.3 million visitors to Dubai.
There are no good reasons for changing the growing trend, so real estate prices should continue to rise in 2022.
According to The National, Haider Tuaima, head of real estate market research at ValuStrat, supports this forecast. Lending rates remain low, and developers are still innovating more flexible payment plans, competing for buyers' attention.
