The reputation of the UAE brings high performance to the real estate market
In 2022, the total volume of real estate transactions in Dubai reached $56.8 billion. According to data from international analytical companies, this figure is expected to increase by 20-50% in 2023, reaching $81 billion.
Over the past decade (from 2012 to 2022), the number of wealthy individuals in the UAE has grown by 62%.
Dubai's reputation as the best place to live has attracted a significant influx of wealthy investors. They are drawn to the luxurious lifestyle, tax-free environment, safety, economic stability, and, of course, unique properties in interesting locations in the UAE.
Since the beginning of 2023, the total sales of real estate have already exceeded $3.3 billion, and the overall volume of transactions in May this year increased by more than 17% compared to the same period in 2022. It is expected that this trend will continue. The luxury real estate market in Dubai is projected to grow by more than 14% this year.
The highest growth is observed in the top areas of Dubai, such as Downtown, Palm Jumeirah, JVC, and Business Bay. The demand for premium properties in these locations has led to a noticeable increase in prices for luxury real estate by approximately 6-8%. Even with such price increases, daily transactions in the Dubai market are conducted for amounts starting from $273,000 and higher.
This indicates a high interest in the real estate market in the UAE overall, especially in the luxury segment
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