Dubai is known to offer a dream lifestyle – complemented with plush luxury, premium amenities, and scenic beach views. A majority of high-end apartments for sale in Dubai are designed to be picture-perfect, oozing with comfort, luxury and extravagance. With so much to offer and while catering to hundreds of thousands of people with diverse tastes, budgets and preferences – the Dubai real estate market has been developed in recent years.
Though the progress was momentarily halted by the COVID-19 induced global pandemic but since Q2, 2021 – the Dubai property market has started showing recovery signs. The global event Expo 2020 brought in a large number of international travellers and potential investors. Thanks to the increase in demand, a spike in Dubai property prices has been witnessed over the past ten months. Surprisingly, despite the increase in prices, potential buyers and investors tend to invest in Dubai properties and expand their portfolios.
Following the conclusion of Expo 2020, Dubai real estate continued to attract investors and buyers and this claim is being proved by the officially released statistics. According to the Dubai Land Department (DLD), 6,983 real estate transactions worth AED18.2 billion are recorded in Dubai – in April 2022. After a record-breaking first quarter, another achievement is that April 2022 recorded the highest sales figures since 2009.
Upon further breakdown, it is revealed that secondary market sales transactions – which is 60 per cent of the total sales – constitute 4,212 worth AED12.86 billion. The off-plan properties – comprising 40 per cent of the total sales – constitute 2,771 transactions worth AED 5.33 billion.
The UAE Country Manager at Property Finder, Scott Bond, said: “All eyes were on the real estate performance post Expo 2020, and with April 2022 performing the highest since 2009, the data is a strong testament to the growing appeal for the Dubai Real Estate Market.”
As compared to April 2021, April 2022 recorded 45.48 per cent more transactions – and in terms of the value of transactions, there is a 66.62 per cent spike in value.
“Seeing the increase in a number of queries at our portal HFRE, I can state that investors are returning to the Dubai property market with clear objectives, conviction and clarity. The market has not just withstood the challenging pandemic but set back on the recovery path in the second half of 2021. The UAE government’s initiatives (including 100% business ownerships and new categories added to the Golden Visa programme) also played a significant role in bringing potential investors back,” said Muhammad Ali Mustafa – Director and Co-Founder at HFRE.
Investing in properties for sale in Dubai has always been an incredible investment decision and now it is considered the most preferred and long-term investment asset. With the introduction of long-term residence visas, more and more numbers of expatriates have started considering their plans to live in this country on a permanent basis.
Upon fragmenting the numbers we can state that a 46.2 per cent increase was recorded in the secondary market, which showed a 63.86 per cent increase in the value. For off-plan properties, a 44 per cent increase was recorded in terms of sales and a 73.68 per cent increase in value.
In terms of sales transactions for townhouses and villas in Dubai, the most searched areas in April 2022 were:
- Dubai Hills Estate
- Palm Jumeirah
- Arabian Ranches
- DAMAC Hills
- The Springs
And in terms of sales transactions for apartments for sale in Dubai, the most searched areas in April 2022 were:
- Dubai Marina
- Downtown Dubai
- Palm Jumeirah
- Business Bay
- Jumeirah Village Circle
With an array of apartments and villas for sale in Dubai, it can be difficult choosing one that can fit into your budget and match your investment goals. You can contact the team HFRE at +971 4876 2473 with your queries or write us at info@hfre.ae and one of our team members will get back to you with a number of hand-picked options along with a bespoke investment plan.
