Dubai's real estate market is booming
The consolidated figures for Q2 2022 confirm the trend observed in Q1. CBRE, an international real estate consulting group, is a leading player in the sector. Listed on the stock exchange with a valuation of more than 25 billion dollars, CBRE has delivered its analysis on the Dubai real estate market, in complete independence. And as we have been saying for a long time now, the trend is good, very good...
Real estate in Dubai: +21.7% increase in rents!
It's not good to be a tenant in Dubai! On average, rents have risen by +21.7% over the last 12 months, all districts combined. While the increase is 21.2% for apartments, it is 24.7% for villas. This increase can be explained by an insufficient supply to meet demand. The city has gained 100,000 inhabitants in 2021 and the trend will accelerate in 2022. Unquestionably, becoming a homeowner in Dubai remains the best way to protect yourself from rising rents. Hence the interest to buy an apartment or a villa off-plan, right now, whether you plan to move to Dubai in the medium term or to make a profitable rental investment in Dubai. The average annual rent for an apartment is AED 85,294 (€23,000) and AED 255,437 (€69,000) for a villa.
Sales of apartments and villas in Dubai: 7,941 transactions in June alone
Investors from all over the world are flocking to the Dubai real estate market. Entire buildings are being sold within minutes during the most anticipated launches. This represents an overall increase in the number of sales of +33. 3% compared to June 2021, with 7,941 transactions recorded. In the off-plan sales market, the increase is +46.7%. Since January 1, the total number of sales is 38,901, the highest figure since 2009. The increase in purchase prices, compared to June 2021, is +10.1%, with an unfavorable exchange rate compared to the time. The real increase is therefore much higher for French investors, but we are still far from the maximums. There is still plenty of room for growth, and there are many opportunities to be seized in the off-plan new build market. To discover the new real estate programs in Dubai, click here.
