Real estate figures for the 1st quarter of 2022 in Dubai
The Dubai real estate market is doing well. Very well indeed! If this was the feeling we shared with our clients on a daily basis, it is now confirmed by the official figures. These have just been released by the Dubai authorities. And they are good. Very good!
A record first quarter
Real estate transaction figures have reached new records in Dubai. In Q1 2022, the Dubai Land Department recorded no less than 27,616 sales of apartments and villas in Dubai. This is an increase of +37% compared to last year. The sale of off-plan properties increased by +98.5% compared to the same period last year. Transactions on the secondary market have also increased strongly, with the number of transactions up by +17.4%.
Prices up sharply
The average price of apartment transactions in Dubai rose by an average of 10% between Q1 2021 and Q1 2022. In some areas, increases exceeded 20%. Rental prices rose by an average of +13. 1%, with again some neighborhoods seeing much higher increases.
Villas are particularly affected by price increases
The villa market is growing steadily. The price increase is even stronger for villas than for apartments in Q1 2022. In fact, according to Dubai Land Department data, the average price increase for villas is +20%. For rentals, the increase is +11.7% compared to Q1 2021.
Conclusion
It's not too late to invest in Dubai and our feedback from the field suggests that the rise is likely to continue for a long time. On the villa front, we have some great opportunities for you to make the most of the price growth. Great returns can be generated by investing in the right place. Our team ofprofessional real estate agents with official real estate license issued by RERA and Dubai Land Department are here to assist you.
