Dubai residential real estate market registers best sales…
(MENAFN- Atteline) Unique Properties shares information on the latest trends and growth in the sector
Dubai, United Arab Emirates – July 22, 2022: The UAE real estate sector saw record growth as Dubai saw its best performance in the first half of the year with almost 43,000 sales transactions worth over 114, AED5 billion in the first half of 2022, compared to 27,373 sales transactions worth AED61.97 billion in the first half of 2021. Over 8,800 real estate transactions valued at AED22.69 billion were reported in June alone, signifying a 42.6% increase in sales and a 55.4% increase in value, compared to the same month in 2021 These advances demonstrate the UAE’s post-pandemic resilience and reinforce the key role of Dubai’s real estate sector in diversifying the country’s economy.
With 5.5% of the UAE’s overall Gross Domestic Product (GDP) generated from its real estate business, the government’s efforts to protect the real estate market through various initiatives have led to rising residential property prices with a projected increase of 3% by the end of 2022. Unique Properties, the Dubai-based, multi-award-winning real estate investment advisory firm with a proven track record of nearly two decades, observes that the Dubai housing market will remain in high demand over the next few years.
Arash Jalili, Founder and Managing Director of Unique Properties, UAE Headquarters, commented: “The government implemented lockdown measures at the height of the pandemic and the residential property market in the country came to an abrupt halt, but has since rebounded favorably with its strongest first half. performance since 2009. This promising progress has been underpinned by the UAE’s supportive economic reforms, the easing of COVID-19 related restrictions and its accelerated vaccination program – all key factors which have led to its recognition as one of the best countries to lead the world in pandemic recovery.
Unparalleled perks such as the country’s highly sought-after Golden Visa, as well as the resounding success of Expo 2020, have boosted Dubai’s appeal as one of the world’s most attractive cities for expats and expats. businessmen ; more than 24 million visitors attended the Expo which lasted six months and the purchasing power of many of these people likely contributed to both the increase in demand and the success of the recovering real estate market . Moreover, with the UAE’s GDP expected to grow by 6.1% in 2022, the performance of the real estate sector in the first half of the year has already been a key contributor. We expect this trend of strong demand for real estate to continue with villas accounting for 15% of all new residential homes entering the market by 2025 and a potential shortage in prime segments as well as high prices throughout the year.
Dubai secured its spot to host the Expo in November 2013, and this has been cited as a main catalyst in boosting the UAE property market post-pandemic. Despite a record drop in prices between 2014 and 2020, residential real estate prices in 2021 have risen from 6% to 20% and this figure is expected to continue to climb. A high quality of life and level of technological development, a safe urban environment, excellent infrastructure, forward-thinking labor and visa reforms, and no income tax have been associated with the UAE’s successful fight against the COVID-19 to Attract High Net Worth Individuals -People from around the world to help lead the country’s strong economic rebound.
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About unique properties:
Founded in 2008, Unique Properties is a full-service real estate investment advisory firm. Based in Dubai, United Arab Emirates, it is one of the most reputable and award-winning real estate companies in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of hand-picked high-end off-plan projects and ready-to-sell and rent-to-let properties. In 2021, Unique Properties contributed 4.5% of Dubai’s total ‘off-plan’ sales volume and approximately 1% to Dubai’s overall real estate economy, which recorded transactions worth $82 billion. (300 billion AED). Thanks to its multilingual and experienced consultants, Unique Properties offers its clients reliable and exceptionally personalized real estate investment solutions. Learn more about the unique properties at
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