The Dubai Land Department reported a total of 2,098 real estate transactions worth AED4.5 billion during the week ending February 18, 2022.
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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 Dubai real estate sector saw a 74.77 percent increase in sales transaction volume when compared to 2020.
According to ValuStrat research, prices and rents for villas in highly desired prime locations could exceed 2014 peak levels.
Transaction volumes are expected to increase significantly during the first half of 2022, and then gradually stabilize in the second half of 2022.
The combination of increased supply in Dubai and increased short-term rentals will keep the market from collapsing.