In January 2022, there was a sharp increase in prices and rental rates by 10%.
In general, for the year, from January to January, the local housing market showed an increase in real estate transactions by 80.2%. The off-plan sector increased by 187.5%, and the secondary market – by 32.5%.
Downtown Dubai, Palm Jumeirah, and Al Barari remain the most popular destinations with buyers.
On average, real estate prices in January 2022 rose by 10.2%, according to information by CBRE. Apartment prices on average increased by 8.5%, while villas grew by 21.8%.
Rental rates for the past year (January 2022) rose by 10.1%, apartments – by 8.3%, and villas – by 22.8%.
Haider Tuaima, head of the consulting and analytical agency ValuStrat, points out that 2021 was the beginning of a new market cycle for Dubai real estate. The market will continue to grow in 2022, but not as fast as it was last year.
