The real estate sector in Dubai

The real estate sector in Dubai is considered one of the most glamorous sectors, as it abounds with various types of affordable properties, all the way to luxury properties. The real estate market in the Emirate of Dubai is witnessing continuous growth, and more investment attractiveness in terms of real estate sales, which reached 7,000 deals, with a total value of 18 billion dirhams, which makes it the best performance for the month of November in the past eight years, according to data published by the official account for the Dubai Government Media Office. And all this comes amid the momentum of the Dubai Expo.

According to "Reuters", with a survey of the opinions of real estate analysts, housing prices in Dubai are expected to continue to rise during the next year, twice the increase that was expected three months ago; by Supporting the requests of foreign investors with the improvement of the ability to buy. The survey indicated that Dubai's economy has rebounded significantly this year with the opening of the trade and travel sectors, in light of the success of the vaccination campaign and an early easing of restrictions associated with (Covid 19).

As for the properties on the map, the most important areas of sales in October for villas / townhouses were Arabian Ranches 3, Tilal Al Ghaf, The Valley, Dubai Land, and Mohammed Bin Rashid City. As for the apartments, the most important areas of interest were Dubai Port, the city of Mohammed bin Rashid, Dubai Creek, Business Bay, and Downtown Dubai.

As for apartments, October was the highest in terms of index points since August 2020, and the highest in terms of value since September 2020. Villas/townhouses performed better, as October 2021 was the highest in terms of index points since April 2019, and also the highest in terms of index value since February 2019.

The index data indicates that the total number of real estate sales since the beginning of the year until the end of October reached 48,651 real estate sales, with a total value of 177.44 billion dirhams, achieving an increase of 38.3% in terms of the number and 63.4% in terms of value compared to 2020, to become also higher Annual sales value since 2015.

In comparison between November and October 2021 on a monthly basis, the value and volume of off-plan real estate market sales increased by more than 50%, and the secondary market increased by more than 17.4%, and its value by 27.6%.

Dubai's hosting of the "Expo 2020" activities will have a great impact and positive effects on the real estate market next year. Prices are also expected to increase by 5% in 2023, according to the survey.