Dubai real estate market is promised three-year growth

Real estate experts analyzed the situation in the Dubai market and came to the conclusion that prices in the market will not fall in the near future.

According to analysts, Dubai has found in a unique position. At the moment it attracts investment and migration from both Western countries and Asian countries. This fundamentally distinguishes the current situation from what it was in 2009 and 2014, when the local real estate market was at its peak.

Despite the rapid rise in prices, Dubai is still inferior to such major cities as New York and London. For example, real estate in central London can cost up to $15,000 per square meter. But at the same time, almost all of it is old and is not considered elite. In the center of Dubai, the price per square meter in new houses is on average $7,500, i.e. twice less than in London.

Protech-experts predict that the Dubai real estate market will grow for three years. In terms of the number of transactions and the growth of real estate prices, 2023 may be the peak year. In the future, growth will slow down. He also predicted that Sobha Hartland and Creek Harbour will soon become very popular with buyers and investors.