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According to experts, real estate prices in the UAE will continue to rise in 2022 due to favorable economic reforms and an accelerated vaccination program. The latter helped to hasten the recovery of the real estate sector after the recession caused by the coronavirus. Government initiatives such as residence permits for retired and remote workers, in addition to the expansion of the 10-year golden visa program, have also helped improve market sentiment.
«The UAE real estate market will develop in a healthy way», says Haider Tuaima, Head of Real Estate Research at the consulting company ValuStrat.
It is expected that developers will hand over 50,000 to 60,000 projects next year due to higher demand for residential real estate.
Real estate prices in Dubai increased by 21% in the first 10 months of 2021. The average cost per square meter is AED 1,235 (USD 336,28), according to a recent study by Knight Frank.
In Abu Dhabi, prices rose 2.2% year-on-year, according to a CBRE report.
