Dubai real estate scaled new heights during 2021
Based on the number of transactions and the activity recorded in Dubai real estate market, it is not wrong to say that 2022 will be another busy year for this sector. We must be ready to observe a number of new benchmarks such as the stabilization of the market better than before, a spike in property prices, and increase in number of transactions – owing to the return of the international property buyers.
The new Coronavirus variant may start cooling off a few economic sectors but the year’s end transaction data suggests that Dubai property market is heating up. The Copperstones sales team has also confirmed a surge in the number of queries in regards to the investment in Dubai properties. It is a clear indication that the market has shrugged off the effects of the global pandemic and set off towards recovery.
Dubai Land Department (DLD) shared statistics…
A total of 84,772 transactions have been recorded in Dubai real estate market in 2021, worth Dh300 billion. According to Dubai Land Department, the number of transactions represents a 65 per cent growth and 71 per cent jump in the value of deals, as compared to 2020 statistics. 72,207 new transactions worth Dh148 billion were concluded in 2021 by 52,415 investors, which represent a 73 per cent growth in the number of transactions and a 65 per cent increase in the number of investors, as compared to 2020.
Popular areas in Dubai for real estate investment…
In wake of modest market stabilization, the residential property sector is expected to be less frenzied and also move towards a fine balance between supply and demand – including the luxury residential sector. When it comes to investing in posh areas in Dubai, a few stand above the crowd such as Dubai Marina, Palm Jumeirah, Business Bay, Downtown Dubai, and the stellar Burj Khalifa.
Around 8,000 property transactions took place in Dubai Marina, representing the highest value of transactions as well. Luxury lifestyle, contemporary amenities and upscale facilities, Dubai Marina is dotted with the city’s finest and swankiest developments on every corner. It is not wrong, if we say that every second query that we receive for Dubai Properties, inquires about investment options in Dubai Marina. If you are a savvy investor and considering to buy properties for sale in Dubai, Dubai Marina, Business Bay, Downtown Dubai, and Palm Jumeirah are the most popular options.
Foreign investors flocking back to Dubai…
If we probe the facts deeper, we will get to know that a large number of natives have invested in Dubai properties, for their families. And international buyers have also started coming back to the market – owing to the resuming of international flights.
A total of 6,897 investors from the GCC countries have conducted 8,826 investments. As many as 6,097 Arab investors conducted 7,538 investments and besides that, almost 38,318 foreign investors conducted 51,553 new investments worth over Dh99 billion.
“Dubai’s real estate sector has once again proven its resilience, attractiveness and ability to achieve sustainable growth even during the exceptional circumstances being witnessed globally. The results highlighted in the report bode well for the future as the country ushers in another 50 years of economic development. The real estate sector represents a major catalyst for the growth of various other sectors,” said Sultan Butti bin Mejren, Director-General of DLD.
2021 was proved to be a remarkable year for Dubai real estate sector, which managed to attract foreign investors back to this market. A large number of investors plunged into the luxury real estate sector and bought the property jewels but it does not mean that the mid-tier property market did not perform well. It also started picking up, signalling an increase in the confidence of expatriates, living in Dubai and planning to have a long-term stay there.
Moreover, several property developers have started offering mid-tier properties at attractive payment plans and the trend is expected to continue this year as well.
If you are also looking for a luxury property in Dubai or planning to add a few mid-level properties to your portfolio, you must speak to one of the sales representatives of Copperstones at +44 203 888 5555 or write us an email at enquiries(at)copperstones(dotted)net. Our experts will get back to you with a bespoke investment plan to help you meet your goals.
Please submit your enquiry and a member of our team will get in touch with you soon.