Dubai: the share of luxury real estate on the market will double in 2022

Dubai's luxury real estate market will continue to grow in the second half of 2022, as the limited supply of luxury and ultra-luxury residential units is unable to meet the growing demand from both buyers and foreign buyers.

Industry experts, analysts and market experts said that the demand for first-class and ultra-modern real estate in Dubai has been growing since the beginning of 2022, as wealthy individuals (HNWI), millionaires and entrepreneurs want to move or buy second homes in Dubai.

Referring to a recent report, they stated that 4,000 HNWIs are expected to move to the UAE in 2022, as the country has demonstrated its ability to combat COVID-19 and successfully hosted Expo 2020, providing excellent connectivity and 100 percent foreign ownership of companies and implementing a number of visa reforms.