DUBAI, United Arab Emirates — Emirati property magnate Hussain Sajwani is on a high following a record start to the year for Dubai's property market.
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The Dubai Land Department reported a total of 2,098 real estate transactions worth AED4.5 billion during the week ending February 18, 2022.
The Dubai real estate market recorded 5,797 sales transactions worth Dh16.69 billion last month, making it the best January on record, according to Property Finder's monthly report released on Thursday.
Despite COVID-19 variants causing market uncertainty, experts predict that Dubai real estate will continue to attract global investors this year, as strategic government initiatives, visa reforms, a resilient economy, and a successful pandemic strategy will continue to attract global investors.
Following luxury homes, mid-market properties will have their day in the sun.
Rents for villas and apartments in Dubai will continue to rise this year, but at a slower rate.
Mirdif, Akoya Oxygen, and JVC all reported high demand for affordable villas.
The combination of increased supply in Dubai and increased short-term rentals will keep the market from collapsing.
Potential buyers are lining up to get a piece of Dubai's lucrative real estate, demonstrating how the sector is recovering from the Covid pandemic.
The growth of the house residential mortgage industry is expected to continue at a healthy rate, according to Lion Mortgage Consultants.