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According to experts, the total volume of transactions in the Dubai residential real estate market in May 2022 reached a 13-year high, as investors, wealthy individuals and entrepreneurs are interested in business migration.
In its latest report, CBRE reported that the total volume of transactions in the Dubai residential real estate market increased by 33% to 5,542 in May 2022, while the total volume of transactions for the year to May 2022 reached 30,903, which is the highest since 2009.
The real estate consulting company reported that unscheduled sales continued the upward trend and increased by 55.4%, while sales in the secondary market increased by 18% in May 2022.
As for the price increase, average real estate rates increased by 10.9% in the year to May 2022. Clarifying, the real estate consulting company reported that average prices for apartments and villas in 2022 increased by 9.6% and 19.8%, respectively.
Another real estate consultant, ValuStrat, reported that the monthly price growth for villas and townhouses in Dubai has slowed since the beginning of 2022, while apartment prices have hardly changed. ValuStrat index recorded a 33.4% year-on-year increase in villa prices, while the annual capital gain for apartments across the city averaged 8.2% in May 2022.
