Real estate prices and rents in Dubai have been rising since the beginning of 2015

According to the latest data, the Dubai real estate market continued its growth in January 2022, as housing prices and rents have increased since the beginning of 2015. The residential real estate market recorded an increase in transaction volumes by 80.2% year-on-year last month, as off-plan real estate sales, as well as sales in the secondary market, increased by 187.5% and 32.5%.

Real estate consultants noticed an average 8.5% increase in apartment prices and a 21.8% increase in villa prices last month, as apartment prices remained unchanged at 1,085 dirhams per square meter, while villa prices rose to 1,250 dirhams per square meter.

Downtown Dubai recorded the highest average sales per square meter - 1,958 dirhams for apartments, while Palm Jumeirah recorded the highest average sales per square meter - 2,699 dirhams for the villa segment.

The year 2021 represented the beginning of a new market cycle, which in several areas could reach or possibly even exceed the peak prices of 2014 by 2024.