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Dubai's real estate market has entered the next year with record sales, growing demand and confident developers.
At the moment, Palm Jumeirah, Dubai Hills and Emirates Hills are the most popular areas for those who dream of a luxurious life. The prices for villas range from AED 1,500,000 to AED 2,000,000. In 2022, lots of unique projects are expected, which are already in demand: real estate transactions are expected to cost from AED 10,000,000 and more.
In 2021, there were also transactions worth AED 100,000,000 and above for houses in Dubai on several occasions. Experts in the real estate market believe that overcoming the barrier of AED 200,000,000 will not take much time in the near future. But apart from luxury, a lot depends on the available living space. For instance, in areas such as Dubiland, MBA City, Business Bay and Jumeirah Lake Towers, the greatest transactional activity is observed.
Renters can hope that rents will remain low during 2022. However, there is an increase in prices in several areas. In most popular residential areas of Dubai and Sharjah, rental rates are still 10-25% lower compared to 2020.
