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Dubai's real estate market will see a more than 100 percent increase in the value of transactions this year, as investors trust the emirate's consistent economic policy, successful strategy to combat the COVID-19 pandemic, visa reforms and the recent liberalization of the business licensing regime.
Expo-2020 also had an impact on price growth. Industry experts assure that the trend will continue after the closing of the exhibition.
Real estate analysts and agents said that the emirate has registered real estate transactions worth AED 150 bln, compared to AED 72.49 bln in 2020.
Referring to the latest data published by the Dubai Land Department, they reported that by mid-December, purchase and sale transactions worth AED 142.5 bln had already been registered in the emirate through more than 57,500 transactions. Last year, a total of 35,434 transactions worth AED 72.49 bln were registered.
Rizwan Sajan, founder and chairman of the Danube Group, said that in 2021 Dubai's real estate sector experienced one of the best years in its history. Sajan added that the prospects for the real estate sector are rosy due to the unique strength of the country. «Real estate will continue to attract investment as more and more people will move to the UAE», he said.
Transaction volumes are expected to increase significantly during the first half of 2022, and then gradually stabilize in the second half of 2022.