Dubai Property Market sees strongest ever start to a year with 12,119 Transactions

The real-estate sector of Dubai is thriving and recorded the strongest start of the year by retaining the 12,119 transactions. There was an approximate 17.7 increase in the transactions compared to 2017 comparatively the start of the year is impeccable and hopefully, the number continues to grow.

The Dubai property market has registered a huge number of transactions 43.5 percent higher than in February. The sale transaction grew 9.9 percent on the monthly basis. Dubai remains quite affordable compared to international markets especially Europe as one can encounter many market barriers related to external investment along with rising interest rates and inflation post-covid-19 recovery.

There are many combinations of factors that are incorporated in making Dubai a secure market to pursue business. The UAE property market has been strong from the disruption by the coronavirus and the government initiative has positively contributed to the economy such as residency permits, remote work, expansion of the 10-year golden visa program, and much more.

UAE’s property market has recovered strongly as a result of property prices and rents in the Dubai residential market continuously increasing in 2022 which led to a strong economy. Dubai registered high sales transactions in off-plan as compared to January. The transaction count basis shows the market’s off-plan fell from 40.6 percent to 46.9 percent last month. 

The new development projects that were launched in the last few months and other additional launches in the pipeline have driven the off-plan sales which are likely to increase in the coming months. 

The recent transactions that took place in February were more than 3000 off-plan residential units entered currently in the market for sale. The townhouses have gained the 58.5 percent volume in the new inventory while villas accounted for 36.8 percent and 4.7 percent respectively.  

The resale transaction in February has crossed the benchmark and market share has jumped high compared to January. Dubai has recorded high mortgage-backed transactions.

The increasing transaction is the result of newly handed over projects that are now eligible for home financing, townhouses that have loan volume increased by 58.9 percent. We are foreseeing mortgage volumes resuming the downward trend as the homeownership increases with high-interest rates.

The Dubai property market has recorded a 1.12 percent increase in prices where market headwinds and downside risks remain in the center affecting the inflation and interest rates. The spike in the Dubai property market presents an opportunity for every market as one can sell or buy or rent their space to businesses with the association Signature Habitat. 

The property market is receiving high sales transactions with the newer and older developments that have led to high demand and returns. The growing market presents opportunities for investors to invest in residential and commercial spaces and yield higher returns in no time. Signature Habitat finds the best places for its clients within the specified budget in UAE. 

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