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The South of Dubai, specifically the Dubai South and District 2020 districts, the former site of Expo-2020 event, are becoming the main destinations for consumer demand. However, we are talking more about «consumers» interested in affordable housing for their own needs, and not about investors. Last but not least, the engine of such a movement is the price range of 1760-2930 dollars per square meter, which is held, not least, by the efforts of developers. In the next few weeks, several real estate projects are planned to be launched in Dubai South area: apartments with a target value of less than $ 272,000 and villas with a price of less than $ 817,000. Residential real estate projects are being developed as part of the development of integrated communities with developed...

In the first quarter of 2022, an increase in business activity was recorded in all market sectors and at all levels. Residential real estate sector The average price of residential real estate in Dubai increased by 11.3% from the beginning of the year to March 2022. On average, apartment prices increased by 10%, and the villa segment showed an increase of 20.1%. Rental rates, for the same period, showed an increase of 13.1%, which is the largest jump in prices since December 2014 — a record period in the history of observations. The rental price in the apartment segment increased by 11.7%, and in the villa segment — by 22.5%. If we evaluate the indicators of individual districts, the most impressive results for apartments were recorded in Palm Jumeirah (39.6%) and Downtown...

In the first quarter of 2022, the rental and leasing of industrial real estate in Dubai showed strong recovery growth. With the growth of business activity in the emirate, the demand for warehouses is also growing, the number of contracts, their duration and rental rates are increasing. Since the beginning of the year to the present day, seven of the nine local industrial real estate markets in Dubai have shown an increase in rental rates and volumes. Only two regions, JAFZA and National Industries Park, retained the previous price level, namely 47.4 and 73.2 dollars per square meter. «Class A» premises show particularly impressive results. In the districts of the city, Al Quoz becomes a confident leader. The district shows the sharpest growth both in annual terms and in...

The current year has brought a new historical record to the emirate's real estate market, as the first quarter of 2022 was the most successful for Dubai in the entire history of observations. In figures, March 2022 reached an indicator of 7,865 real estate transactions — an increase of 83.4% in annual terms. During the same period, sales in the off-plan sector increased by 94.6%, and the secondary market showed an increase of 76.1%. For comparison, February of this year reached 5,598 transactions, and in total 25,972 real estate transactions were recorded in the first quarter. The average indicator of both real estate prices and rental rates continues to grow. The flagship segment of the market, such as villas will also retain market leadership in 2022, but their growth rates are...

Despite the fact that both apartments and villas show strong growth rates, analysts and market experts generally agree that the latter will continue to grow at a more pronounced pace both in terms of the number of sales and their cost, and in terms of the prices of properties. Developers also focus their attention, first of all, on villas. Since the IV quarter of 2021, many residential projects have been launched into development, the delivery of which to the market should take place within one or two years. It is expected that the economic indicators of the villa segment will be able to cross the historical records of 2014 by the end of the current year. However, it is noted that the villas will grow the remaining three quarters at a steady pace and their separation is based mainly on...

The beginning of 2022 demonstrated two changes in the economy of the Arab Emirates at once: a noticeable increase in the level of business activity in the country, which reached 54.8 points in March this year, combined with a significant increase in foreign investors and buyers. Large international companies are returning to the market again, a new business is being opened in the possession of investors from the USA and Canada. Investments from China are becoming increasingly important. Thus, in the residential real estate sales sector, Russian buyers broke out from seventh to fifth place in the ranking of the largest categories by nationality. At the end of the first quarter of 2022, in annual terms, the number of real estate transactions by European citizens increased by 67%...

Although already in 2021, the shift of Dubai real estate market towards an active recovery led by the growth of the premium segment became obvious, it is 2022 that can be called the beginning of a new phase of development. First of all, it has become possible to talk in detail about a significant excess of demand and an increasingly noticeable shortage of supply, which is exactly the opposite of the situation of recent years. Sellers have become the leading force in the market, able to dictate the pricing of properties. This is especially true for luxury real estate. Until recently, almost all objects on the market worth more than $1 million were burdensome for their owners. Expensive premium real estate was sold sluggishly, as most investors were interested in small-sized, cheap...

Europeans have always been a major part of the UAE real estate market and, in particular, Dubai. So, in the first quarter of 2022, Europeans ranked fifth in the list of the largest categories of buyers in Dubai by nationality. This is the first noticeable increase since 2019, when this category took seventh place in the list. In annual terms, at the end of the first quarter, the number of purchases made by Europeans increased by 67%. However, there is still no comprehensive information about how many properties were bought and how many people arrived in the emirate. A huge number of various organizations have long been using an extensive production system, the chains of which cover many countries. In particular, we are talking about outsourcing. Despite the fact that Europeans bought...

Residential real estate of the island took the leading places in the list of the most expensive sales over the past quarter. In the first three months of this year, four major sales were made, which were highlighted by a record deal for a mansion with an area of 3,066 square meters. This acquisition cost the buyers 76.2 million dollars. At the moment, this is the most expensive deal in the emirate. Among the most expensive deals in the top three is, in second place, there is a deal for a mansion in Jumeirah Bay. The building was sold at $24.01 million. The third place was again taken by a mansion in Palm Jumeirah - $23.6 million. According to these examples, it is obvious that villas still form the basis of demand for expensive real estate. However, the main interest is represented by...

Together with the influx of other foreigners, at the end of the first quarter, the secondary residential real estate market in Dubai showed a 250% increase in the number of sales in annual terms. However, in April 2022, a new challenge arises before the market - now European buyers and investors, in a huge volume, migrate to the emirate and invest their money in the secondary housing market. European buyers from the UK, Germany, Italy, France are buying up a wide variety of objects of both the medium price category and the premium segment. The most interesting for them are properties in traditionally popular areas: Palm Jumeirah, Dubai Marina, Dubai Creek and Downtown Dubai. It is worth noting that it is quite difficult to create a single portrait of a European buyer, since private...

Premium, expensive real estate in the Emirate of Dubai showed a rather weak growth in volumes in the first quarter of this year - by 1.03% compared to the fourth quarter of 2021, which is equal to 4.7 billion dollars. At the same time, in general, prices for objects decreased by 6%. Thus, the average prices for luxury real estate dropped to $1.2 million. 5,258 luxury apartments and 742 villas were sold in the first quarter of 2022. MBR City ($869 million), Palm Jumeirah ($844.7 million) and Downtown Dubai ($708.4 million) took the top three among the districts in terms of sales. According to the growth rates of sales volumes, the following three districts should be noted: Jumeirah Island showed an increase of 2.2 times (from 24.5 to 54.8 million dollars). MBR City has grown 1.8...

In the first months of 2022, thousands of residential properties were put on the market to meet the growing demand from investors and buyers without stopping. Both luxury housing and objects from the mid-price segment are being brought to the market. According to the Property Monitor portal, only in March of this year 5,800 apartments and villas were delivered to the primary market. Presumably, their combined value reaches $2.8 billion. The primary sector of the market has been in a fairly static state for a long time. The whole of 2020, when COVID-19 fully revealed itself to the world, as well as most of 2021, were stingy with the launch of full-scale residential projects. Only in the last three months of last year, the situation has changed, not least against the background of the...

The aggregate indicators of the end of 2021 and the beginning of this year demonstrate the formation of a strong positive trend in the secondary market. The bull market formed early enough in early 2022. It was accompanied by significant indicators on real estate transactions in January of this year. February only consolidated the trends, simultaneously breaking several historical records. It is worth noting three key trends in the current situation: High competition among buyers due to the increase in the offered purchase prices. There is a kind of «bidding war», similar to what can be observed at auctions. Demand still revolves around the desire to purchase large-sized real estate. The needs formed at the height of COVID-19 continue to firmly shape consumer demand...

During 2021, the mortgage lending market showed record growth rates. The pre-pandemic indicators have already been overcome, and the previous historical peaks set in 2017 have also been beaten. According to Dubai Land Department, in 2021 the volume of mortgage funds exceeded the records of 2017 by 26%. The number of transactions in 2021 turned out to be more than the results of 2019 and 2020 combined. In many ways, two factors played a positive role in this sector of the market: The general growth of Dubai's popularity as a global real estate market against the background of COVID-19. The government initiatives, such as reducing the amount of the deposit on the loan by 5% — up to 20% for residents of the country and 15% for UAE citizens. These 5% turned out to be enough to...

In the first two months of 2022, 12,119 real estate transactions were concluded on the local market. This is 17.7% higher than in 2017, which was followed by the previous similar record. February showed excellent results — there were 6,346 transactions out of the specified number. This is the highest result for February among all the years of observations and it is 43.5% higher than the last such record. This result is also 9.9% higher than in January 2022. Off-plan real estate market In February of this year, 2,576 transactions on off-plan real estate were recorded (real estate under construction), which is 4.9% less than in January 2022, but shows an annual growth of 112.9%. Besides, last month, more than 3,000 off-plan housing projects went on sale. Townhouses occupy 58.5% in...