The average rent of Dubai apartments and townhouses grew by 29% and 33% respectively; the rent of villas, by 64%. These trends are caused by active capital gain, high rental yield, and government initiatives incentivizing investment activity.
All segments of the Dubai real estate market demonstrated great performance in the first half of 2022. Despite the barriers, such as higher interest rates and a stronger dollar, the market growth was strong and consistent.
As for the nationality of the most active buyers, Indians were number one. Citizens of the United Kingdom, Italy, Russia, and France were also in the top five.
From January through June this year, Dubai Land Department registered 37,762 purchase and sale transactions, which is 60% higher than over the same period of 2021. The total value of sold properties was also 85% greater than in the first half of 2021.
Although many real estate markets around the world are slowing down as the inflation is rising and the interest rates are growing, the Dubai market remains stable thanks to the unique location and strategic decisions of the Emirati Government.
