Dubai's real estate market will see a big boost in the nearest time

The value of real estate sales in the first 9 months of 2021 increased by 45.15 percent.

In the coming period, Dubai is expected to see a significant economic boost. This has become clear with signs of recovery manifesting in the emirate's economic sector after the COVID-19 pandemic crisis, especially as the UAE is hosting Expo 2020 and a number of important international events and festivals.

The recovery of the economic sector has evidently affected the real estate sector, that also has witnessed a significant recovery and achieved an increase in sales value, which has not been seen in the market for the past 10 years. Villas are in huge demand, which resulted in the market entering an advanced stage of new project launches. Apartments in specific areas are in high demand, too, with prices increasing between 2 and 3 percent.

The value of real estate sales in the first 9 months of 2021 increased by 45.15 percent over the value of 2020 sales, exceeding USD 28 billion.

In the third quarter of this year the market registered an increased number of investors and first-time buyers thanks to long-term state residency visas and the improved investment environment in various economic sectors as a result of government efforts and facilitations.

In the nearest perspective, Dubai's real estate sector is expected to see an expansion of first-time property buyers circle in the market, an influx of new investors from new markets, as well as an increase in real estate prices, both in sales and rentals.