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2022 is undoubtedly going to be a game-changer for the Dubai real estate sector as the property sector in Dubai is set to unlock more values after its remarkable recovery from the pandemic-affected era. Recent data compiled by the Dubai Land Department shows that the sector picked up an amazing momentum throughout the second half of 2021, a trend that is expected to continue into 2022. The property market is expected to show a record-breaking improvement for the new year with a Reuters poll projecting an astonishing 5% rise in the housing prices for 2022, twice the previously forecasted amount.

Foreign investments are the driving factor

The remarkable improvement in the Dubai property market could be considered as a culmination of various deciding factors, including a favourable increase in foreign investments. EXPO 2020 and concerning events have opened the borders and investors all over the world are turning to Dubai due to its investor-friendly regulations.  In a survey conducted by property advisor ValuStrat, seven out of eleven respondents chose foreign investments to be the driving factor for Dubai’s real estate in 2022.

Increased demand for housing units

Villas and luxury apartments continue to be people’s favorite with short-term rentals incurring a record-breaking new year weekend. The easing of COVID-19 restrictions, relaxed VISA reforms, reformed travel regulations, and successful vaccine roll-out have all contributed to this astonishing recovery of the housing sector, especially after the setback during the pandemic era.

With EXPO 2020 and concerning activities in full swing, residents and tourists are in search of affordable housing units in the city. Spacious, fully furnished rooms are high in demand with average annual rent for spacious apartments growing up to 14.5%.

Prime locations to incur record-breaking sales

Residential as well as commercial properties in Dubai’s prime locations are expected to show a double-digit increase continuing the jaw-dropping sales in 2021. While beachfront villas showed an average 10% increase in rates, apartments in key areas are showing an average 5-7% increase. Properties surrounding the EXPO 2020 sites are all highly sought-out while communities like Dubai Creek, Marina, and Jumeirah Village remain to be high in demand.

With several luxury and ultra-luxury projects on the horizon, the property market in Dubai is anticipating amazing growth in upcoming years. Buying a property in Dubai requires careful consideration of various factors and the assistance of an experienced professional is highly recommended. For the past 17 years, Flying Colour and Signature Habitat have been helping clients build their dream venture in Dubai in an easy and hassle-free manner. Please feel free to mail your queries at info@flyingcolour.com or contact us at +971 4 4542366.