What to expect in the Dubai real estate market in 2022? The best neighborhoods for real estate investments in 2022. Assistance with acquiring a property in Dubai.
The metropolis is known as one of the most attractive cosmopolitan cities in the world. It is perfect for investments in buy-to-live and buy-to-invest residential and commercial units. And thanks to the increased demand for local elite complexes such as Residences at Marina Gate, especially among wealthy people, the city has finally overcome the crisis in the housing market. For the first time in six years, property prices are rising, and most experts agree that this trend will continue.
The reopening of international borders, the successful reversing of the COVID-19 pandemic, and Expo 2020 have been game changers for the local property sector. With the help of these events, wealthy investors have shown a keen interest in purchasing local properties. So it resulted in a noticeable growth in the number of transactions.
What Happened In The Dubai Real Estate Market In 2021?
In 2021, the total number of real estate transactions rose by a whopping 65% compared to 2020. More than 72,000 residential properties were sold last year. More than 52,000 investors participated in the buying and selling transactions. The number of transactions in this field exceeded 84,000, and their total value reached AED 300,000,000,000.
According to different real estate experts, the COVID-19 pandemic, against all expectations, had a positive impact on the Emirati market in the long term. Because the government reacted quickly to the spreading infection and took immediate steps to prevent it, investor confidence increased significantly around the world. They started investing in Emirati real estate while other countries went through a period of recession because of the coronavirus outbreak.
Currently, the growing interest of foreign investors in local housing has become a positive trend in the market. This is especially obvious in areas with high standards of living and a wide range of modern amenities.
Which Dubai Areas Are The Most Popular Among Real Estate Investors?
Mohammed bin Rashid City (MBR City), Jumeirah Village Circle (JVC), Downtown Dubai, and Dubai Marina are some of the most lucrative real property investment communities today. Each neighborhood offers a high quality of life, developed infrastructure, and a lot of modern amenities.
- MBR City is well connected to the rest of the metropolis and provides an impressive variety of residential and commercial units. Homebuyers can find a property that meets their personal tastes and capabilities. Everything from luxurious apartments to medium-priced townhouses is available here. The famous Meydan One Mall is close to the community.
- JVC is located near Al Khail Road and has over 2,000 properties, including villas, townhouses, apartments, and commercial buildings. This place, combining a chill and a lively atmosphere, offers all the amenities necessary for a comfortable and interesting life. One of the main advantages of the community is the proximity to many popular sights in Dubai.
- Downtown Dubai is the perfect place for those who are looking for spacious apartments in the central part of the city. The community is the center of culture and nightlife. It also can boast of several prestigious schools. This makes it a favorite spot for singles and families with children.
- Dubai Marina is the best choice for people who look for beautiful apartments and high-rise properties with breathtaking views. In the community, there are a lot of shops, restaurants, and other establishments that provide their visitors with high-quality service.
What Can Be Expected In The Dubai Real Property Market In 2022?
The forecasts for this year are very encouraging. According to experts, the boom in the sector is likely to continue. Moreover, they believe that in 2022 the whole world will witness new impressive records. The main factors that will boost the growth of the housing market will be:
- a stable economy;
- favorable tax policies;
- low mortgage rates;
- high interest from foreign buyers, especially from wealthy investors;
- a large number of ready-made residential and commercial properties.
Despite the fact that local real estate markets in many countries have experienced positive trends, Dubai remains one of the safest and most appealing investment destinations. And since the local government constantly comes up with new reforms to make the process of obtaining a residence permit easier, there is every reason to hope that it will remain on the same level in 2023.
Assistance With Acquiring A Property Unit In Dubai
Ax Capital is the most trusted agency in the local real estate market. This reliable agency supports its customers throughout all stages of the property transaction and later provides high-quality after-sales service. Visit the official website to check out a catalog of residential and commercial units from well-known real estate developers and connect with experts who know the housing market from the inside.