Dubai: residential real estate market ignores the threat of inflation, as the volume of housing transactions reached 61.9 billion dirhams

Dubai: residential real estate market ignores the threat of inflation, as the volume of housing transactions reached 61.9 billion dirhams

It is expected that following the results of the first five months of 2022, transactions with villas and apartments in the amount of 61.9 million dirhams will be registered in the Dubai residential real estate market. This will happen despite a record surge in global inflation.

 

Real estate consultant Knight Frank believes that the impact of global inflation on the UAE economy and the Dubai residential real estate market is likely to be limited for the time being due to effective government measures.

 

The relative positive dynamics in the economy is reflected at all levels of business activity in the country. At the same time, the latest business activity Index (PMI) data for the most important non-oil sector, the UAE remains stable at a 12-month high in April 2022.

 

Currently, buyers of villas and apartments with mortgages account for only 18% of the residential real estate market in Dubai. In 2021, this figure was approaching 40%, and in 2007, slightly more than 50% of transactions were financed.

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