Dubai Property Prices Are Expected To Continue Rising In 2022
The Dubai real estate market has experienced surging prices in recent years, and this trend looks to continue. Raphaely Khacter, a broker, talks about the impact this is going to have on the local population’s search for housing.” We’re living in a world where people do not need accommodation anymore,” he said. There are also economic reasons behind the spike in property prices. “Every year, those supply and demand forces work their magic, and next year, it will be even tougher for someone who doesn’t have the money because, unfortunately, Dubai has maintained its value.”
Dubai Real Estate is the most attractive economic and investment field. Accommodation takes precedence over investment in housing in Dubai because the real estate total requirement is more than the supply. These factors, coupled with market conditions, will maintain property values buoyant through 2022.
Property Sales, Prices
The property market has started the year on a roaring note, with Dubai recording 5,797 sales transactions worth more than Dh 16.69 billion in January, the best on record, according to Property Finder.
What’s interesting to note is that just 47% of the January transactions were done for the off-plan properties. The off-plan market amounted to a total of Dh 5.32 billion, while the ready market transacted a staggering Dh 11.37 billion.
Tracking the trend, the top developers in Dubai expect a sturdy increase in the number of transactions and the prices of the residential property for sale in Dubai. New supplies will likely run low in prime areas, i.e. Downtown, Emirates Hill, etc., which will also act as a catalyst that will skyrocket the property prices.
Off-Plan in High Demand
Off-plan properties are in high demand in Dubai as investors look to capitalise on the city’s growing popularity warranting more focus from the property developers in Dubai. Property prices are expected to continue rising as more and more people move to Dubai, so as an investment opportunity, it will be wise to invest now.
There are a few things to consider before investing in off-plan property. Firstly, make sure you do your research and choose a reputable developer. Secondly, be prepared to wait for your property to be completed, as construction can sometimes take longer than expected.
Conclusion
In conclusion, Dubai property prices will continue rising in 2022 and beyond. This is good news for those looking to invest in the city, as there is a strong chance that the returns on your investment will be multiple. However, it is essential to do your research before investing, as not all areas will see the same level of price increases.
An investment now can let you ride the high tide of the Dubai property market, allowing you to achieve maximum capital appreciation. This is why investing in one of the best real estate developers in Dubai, Shapoorji Pallonji Dubai will be the wisest option. Imperial Avenue by Shapoorji Pallonji group is one of the most exciting new projects in Dubai situated in a prime location, i.e. Downtown Dubai.
