Largest Real Estate Yearly Sales In Dubai 2022

The sales value of Dubai real estate had surpassed Dhs150 billion for the first time, having surpassed the Dhs100 billion barrier in 2009, when real estate sales totaled over Dhs110 billion.

August 2022 also saw an enormous overall value of real estate deals, reaching about Dhs 21 billion to date, dispersed among around 8,400 transactions, which is the most significant value ever for August, followed by sales of Dhs 14.8 billion in the same month last year.

From the beginning of August 2022 until today, the value of monthly sales has increased by 41% on an annual basis as compared to the same period last year.

As time goes by, the real estate market in Dubai breaks sales records, reaching a new level.

According to real estate professionals, there is a clear indicator of the sustained momentum and extraordinary performance that started late last year and is a solid demonstration of the increased investment attractiveness enjoyed by the real estate industry in the Emirate.

According to real estate experts, the real estate market has experienced an unheard-of performance since the start of this year, breaking yet another record in Dubai's recorded history during August.

Several favorable factors fueled this record-breaking growth in demand, and it is anticipated that the positive trends will continue throughout the remaining four months of this year.

As a result, real estate sales are expected to surpass Dh230 billion by the end of 2022, thanks to a consistent rise.

They emphasized that the industry is in a state of recovery and renewed energy, backed by residence regulations that allow public facilities. They said that has helped strengthen Dubai's position as an attractive location for investing, living, and working.

Experts claimed that foreign investors in Dubai are to blame for the real estate market's recent strong performance, given the rising demand, high real estate prices, and a significant increase in return on investment.

In addition, the emirate government's recent stimulus measures, unrestricted support, and high-quality initiatives, particularly those supporting ex-pats, encouraged foreign investors to buy.

Real estate professionals pointed out that the "Dubai Expo 2020" had the most influence on marketing the lucrative investment and residence opportunities in Dubai and boosting demand for real estate purchases.

According to experts, Dubai's real estate market has undergone a significant transformation, particularly in the last few years, when it attracted foreign capital after initially focusing on local investors.

As a result, the sale of luxury and prime properties has increased significantly, and the investments of wealthy and high-income people have increased, all thanks to the city's advanced infrastructure and growing middle class.

Despite the sharp price increase, there is still a chance to purchase a home to invest and earn a profit since the real estate market benefits from the expansion of GDP brought about by the expansion of the UAE economy's oil and non-oil sectors.

Given the good rules, Dubai has been the most sought-after real estate market for investors for more than ten years. However, during the past few months, prudent management and stated relaxations of the Golden Visa have significantly boosted its benefits.

Due to investor-friendly rules, a boom in transactions was observed despite rising interest rates.

Many Russians have also been prompted by the Ukraine-Russia crisis and the ensuing Western sanctions to contemplate investing in Dubai's real estate market.

Additionally, the market has all the tempting offerings necessary to draw in high-net-worth people because the UAE is renowned for its investor-friendly policies (HNIs). Cash-rich investors may rest easy knowing their money is safe because there are no yearly property taxes, income taxes, rental revenue taxes, or value-added taxes associated with investments in Dubai.

Additionally, it gives investors greater freedom when buying real estate, which results in more enormous profits. These factors have further strengthened Dubai's position as the top choice for investors for at least the next 5 to 7 years.

Total sales for ready homes increased 27.4% over July 2022 and 67.5% over August 2021, reflecting the rising amount of transactions. According to real estate brokers, the deal value has increased by 6.7% monthly and by 57.4% yearly.

The most excellent monthly transaction in 12 years occurred on the off-plan market, as 4,392 houses were traded for Dh8.5 billion.

The offline-plan market's transaction volume saw a strong growth of 51.1% month over month and 72.1% year over year.

As a result, market value increased by 38.5 per cent every month and 76.5 per cent on an annual basis.

On the other hand, the volume of the mortgage business saw an extraordinary increase of 15.7% month over month, surpassing prior records by 21.2% year over year.

Undoubtedly, Dubai's real estate market is expected to reach new heights in the coming years due to the significant influx of ex-pats and HNIs attracting domestic and international purchasers.

The Dubai real estate market offers several advantages, including a high standard of living, a high rental yield, first-rate infrastructure, consistent capital gain on investments, and notable economic expansion.

In addition, the Emirates city is poised to thrive in the following years by luring top talent from all over the world and enjoying higher foreign direct investment thanks to the increasing focus on multi-sectorial economic growth.