People have faith in the United Arab Emirates. They are one of the best places to invest money and live. And that, in turn, made it possible to end the housing market crisis finally. There are a bunch of real estate agents in the UAE right now. To find the right one, check out the Emirates. Estate website. There, experts will help you get the home of your dreams.
Rich investors saw how good life was in the United Arab Emirates and how well the pandemic had been beaten for themselves. It also led to a rise in the sales of high-end and expensive homes.
A look at Dubai’s property market in 2021.
52,415 people bought 72,207 new homes in the emirate. In 2021, there were 84,772 transactions worth AED 300 billion in the real estate market.
When the Dubai Land Department released its annual report, it said that the number of property transactions went up 66% and that their value went up 71% from 2020 to last year (DLD).
Some experts say that the global pandemic helped the United Arab Emirates grow and improve.
The government has shown that it can get rid of COVID-19. Other countries are seeing a drop in demand, but in the UAE, things are still going up. Many people have been investing in properties that have a lot of space and a lot of amenities for a high standard of living in the last two years, say experts. Demand for high-end real estate rises simultaneously as prices go up. In particular, this is true for places like Arabian Ranches, Palm Jumeirah, and Emirates Hills.
Dubai Marina had the most transactions, worth more than AED 28.6 billion. Palm Jumeirah came in second (AED 26,6 billion).
What can we anticipate from the real estate market in 2022?
In 2022, experts say that the boom in the real estate market will keep going, and it will be even bigger. The reason why the market rebounded and set new records in 2021 is the same as it did.
Last year, the total value of all real estate sales in the United Arab Emirates was AED 177 billion, which is an 88% increase from the total in 2020. Currently, housing prices are going up, which is good news for sellers: they can sell their homes for the cost they want without giving buyers a discount.
Most experts think that the rise in real estate prices will keep going in 2022. Some experts have also said that this year, new records will be set.
People who make a lot of money live in Dubai, a safe place for wealthy people and people who move there from other countries. And at the same time, the government is always coming up with new ways to make it easier to move to the United Arab Emirates and get a residence permit.
The start of 2022 in the real estate business
As soon as the first day of work in 2022 came around, the real estate industry got to work. Many real estates worth $698 million were sold in a single day, so Figures from the Dubai Land Department said there were 227 sales and leases in the city last year. During the first week of 2022, all transactions were worth $1,97 billion.
Different types of housing should also be taken into account.
- On the first day of work, 12 deals for the sale of land plots were done (their total value was USD 451 million).
- Regarding villas and apartments, 161 deals were made with them (the total value was USD 530 million).
Apartments on Palm Jumeirah were sold for USD 136 million, making this sale the largest one. A deal worth about $ 134 million was in second place. This is where the third-largest deal in terms of the total value was also done. It cost USD 109 million.
The Jebel Ali First area saw the most transactions in the first week of business. People in the area paid 23 times for 4.9 million dollars worth of goods. It took second place in terms of how many people paid. USD 6,81 million was spent on transactions in this area. There were only 21 of them, but they were worth a lot.
When should you buy a house in 2022?
Over the last year, the housing market has seen a lot of big changes. When is the best time to invest? Many people can’t figure that out right now! It’s important to note that today, for the first time since 2016, a certain situation has come up. Developers say there are no problems with too many ideas. Now, most businesses don’t want to start huge projects that aren’t planned. They want to focus on well-thought-out projects that aren’t like other projects.
It’s important to think about the extra pushes for the real estate market in 2021. They can now:
- Receive 100% ownership,
- Freely run a business
- Visas for pension, green, and gold can be applied for at the same time
It is important to note that there was a different trend last year: many tenants changed their status and bought a home in the UAE.
Experts say that if you want to buy a high-quality home, you should not wait. There is a steady rise in prices in this part of the market. At the same time, there will be a lack of proposals. The prices will rise even faster, so that will happen next. The same thing happens in other parts of real estate. Expo 2020 caused prices to go up in the rest of Dubai.
People buy and sell homes in Dubai.
Don’t wait for the housing market to change if you want to buy a house in the United Arab Emirates. It would help if you bought now. If you want to buy real estate in Dubai, please call the Emirates. There is a real estate company. Emirates. A real estate agency is a group of experts who can help you find and buy a home in the United Arab Emirates.