Facts about the development of Dubais real estate marketReal Estate Price Development in Dubai Over the Last Four YearsFacts about the development of Dubais real estate market

2021: Recovery and Stabilization

In 2021, Dubai’s real estate market began its recovery from the COVID-19 pandemic, bolstered by government initiatives like long-term visas and successful vaccination campaigns. This led to a rise in demand for villas and townhouses, with property prices increasing by 5-7%.

2022: Robust Growth Amidst Global Challenges

Despite global economic challenges in 2022, Dubai’s real estate market saw significant growth, driven by the success of Expo 2020 and increased demand for luxury properties, resulting in a 10-15% rise in luxury property prices. The commercial real estate sector also began recovering as businesses adapted to new post-pandemic norms.

2023: Market Maturity and Sustainable Development

In 2023, the Dubai real estate market focused on sustainable and balanced growth, with a notable increase in eco-friendly properties. Residential property prices rose moderately by 3-5%, while the commercial sector remained stable, maintaining high demand for prime office spaces.

2024: Continued Growth and Innovation

In 2024, Dubai’s real estate market continues its strong performance, driven by high-quality infrastructure, innovative technology, and comprehensive visa and tax policies. The market recorded a 20% increase in sales transactions in Q1 2024 compared to the same period in 2023, with a significant rise in both off-plan and existing property transactions. The focus on luxury housing and sustainability remains strong, with prices expected to increase by 5-7% throughout the year​

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