The Dubai Real Estate Market: A Moderate Growth Trend

There has been a lot of talk lately about the Dubai real estate market being "overheated" and that prices have increased too much. However, looking at the price charts, this is not entirely accurate.

The average cost of real estate in Dubai per square meter is currently around $3,230. These were the same prices on the market in December 2013.

Real estate prices in Dubai at this time are about 10.5% lower than the previous market peak, according to DLD figures for the past 10 years. Analysts predict that if current rates continue, market growth will be more prolonged compared to 2014.

Looking at the data from DLD for February 2023, the total number of off-plan real estate transactions in February was 4,551 (up 76.7% from February 2022). At the same time, there is an even distribution between off-plan projects and completed properties.

The market is still growing, indicating constant demand, but indicators are still far from the record highs seen in 2014.

At the same time, Dubai developers are actively launching many new projects, of which about 78% are apartments; villas - 11.3%, townhouses - 10.7%. In turn, investors are increasingly buying real estate not for quick resale but for themselves and long-term investments.

Based on the analysis, it can be seen that the growth of the real estate market is happening at moderate rates, and prices will not soon reach their historical maximum. This means that now is the best time for real estate investments.

Keywords: Dubai real estate market Property prices in Dubai Real estate transactions Off-plan projects Completed properties Market growth Market trends Investment opportunities Dubai developers Long-term investments