As We Enter A New Year, The Dubai Real Estate Market Continues To Flourish.
23rd January, Dubai. The year 2022 concluded strongly with consistent and steady growth, with the Real Estate industry seeing some significant achievements as a whole. Demand from foreign investors seeking to profit from Dubai’s high returns, lifestyle, and economy increased in the sector alongside the liberal visa policies attracting foreign buyers.
The total number of transactions in the residential sector increased by over 50,000 from 35.121 in 2019 to 86,460 in 2022 and a combined sales value increase of AED 150 billion from AED 59.8 billion to AED 208.2 billion in 2022. In September 2022, Dubai Real Estate hit a nine-year peak with 8,649 transactions recorded worth AED 24.42 billion.
Villas and townhouses still remain the highest in demand for both off-plan sales and secondary and there has also been a significant increase in finance registrations from 10.893 in 2019 to 17.222 in 2022. This is primarily due to people choosing to buy a home and invest rather than paying rent, which has significantly increased since 2020.
Provident Estate’s Residential Director, Laura Adams states – ‘Forecasts for the market in 2023 continue to look strong with prices rising and an increase in desire for luxury residences’.
Provident Estate are the experts within the Real Estate industry and can provide additional professional comments on Real Estate market analysis, trends and forecasts. If you are interested in an interview with one of our key spokespeople who can shed further light on the industry, please don’t hesitate to contact us.
About Provident Estate:
Pursuing excellence since 2008. Provident Estate is a one-stop-shop for all things real estate. With a resolution to always offer 5-star service to their clients, Provident Estate are here for property requirements and queries. At the crux of the business, Provident Estate work relentlessly to provide hassle-free tailored real estate advice and consultancy for investors and families alike who are looking to find the perfect home. Provident Estate takes pride in the diverse portfolio of not just services but the team members behind the company. With over 22 different nationalities speaking 25+ different languages, all are ready to answer property-related questions.
Provident are available to help with buying and leasing as well as property management all the way through to looking for the correct financing options or even finding a perfect holiday home.The company pride themselves in being transparent, honest and professional to deliver the best results to clients.