- This year Dubai’s luxury real estate segment is the fastest growing in the sector and is set to continue to rise in the second half with demand from international buyers resulting in high competition and several record-breaking sales.
- The country demonstrated its ability in managing the pandemic, successfully hosting Expo Dubai, offering excellent connectivity and 100% foreign ownership of companies, and introducing a range of visa reforms.
The real estate market can observe a marked increase in demand for premium residential properties since Q4 2020. There is a strong demand for spacious villas, branded residences and townhouses among locals and ex-pats as they ﬁnd Dubai's prime waterfront property to be competitively priced compared to most global cities.In contrast to mid-price properties, the luxury segment is way ahead, as we can see in the price changes over the past six months. This is especially the case in the ultra-luxury segment, where the lack of supply has led to prices doubling in some areas. At some point, it leads to a tight supply of luxury properties. However, resources say the luxury property market is expected to double its share this year due to an influx of investors showing interest in the segment. This is also clear from more developments being built featuring high-end properties backed by ultra-modern amenities.In addition to the reformed visa rules set to be implemented in September 2022, we can expect the second half of the year to produce even better figures with more overseas investors venturing into the market.
- The total transaction volume from January to March 2022 was the highest Q1 to date. The prime transaction volumes are above Dh10 million, 140% higher than the same quater of 2021.
Top-5 expensive villas sold in Dubai this year
- Palm Jumeirah — Dh280m
- Dubai Hills Grove mansion — Dh128m
- Emirates Hills — Dh102.8m
- Dubai Hills View — Dh96m
- Jumeira Bay — Dh88m
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