Dubai Real Estate Market Summary – January 2022

The Busiest January On Record

Nick here, CEO of Masar Capital, focused on New-Build and Off Plan Investment Advisory in Dubai. Today, I’ve provided a breakdown of the first month of 2022 and what’s happening in the Dubai market currently after one of the busiest years on record.

We use a variety of data sources to enable us to get a snapshot of the market, however, one of the things I love about the Dubai market is the transparency and availability of data, so take a look at Property Monitor (where most of the data below is from), Data Finder (by Property Finder) and direct data from the Dubai Land Department – just be sure you’re looking at relevant up to date market figures.

12 Month Historical Summary

Source: Property Monitor

So, what’s happening so far in 2022?

  • We’ve seen the highest monthly price rise since August last year at +1.47% in a month
  • Average gross rental yields are sitting at 5.8%
  • Strongest January transaction numbers on record with 5,776 transactions
  • AED 990 average price per square foot rate

Effectively, we’ve seen a roll-over of the buyer demand from Q4 2021, which averaged 6,000 transactions per month. We are seeing exceptionally high and sustained demand for residential property in Dubai, at different ends of the market, the lowest value sale was for AED 168,000 and the highest being AED 87,000,000 on the Palm Jumeirah.

Off-Plan sales continue to surpass expectations with 2,710 properties sold during the construction period in January, up 5.2% month on month and up 182.3% on a yearly basis – this is due to a number of factors but namely fresh new launches of master-communities, the continued demand for developer payment plans and also investors recognising that they must be able to handpick the best units in projects in order to achieve the best performance.

Best Performing Primary Market Apartments Areas (Transactions)

Source: Property Monitor

Summary

 

Dubai is still seeing astonishing levels of demand, and this is expected to continue into the foreseeable future with the global reputation of the city, loosening of restrictions, continued government initiatives (visa adjustments, new working week, business ownership etc) and decisive action making it one of the most appealing cities in the globe financially and in terms of lifestyle.

 

Thinking of investing?

 

If you’re considering investing in Dubai, we would like to help you with the process from start to finish, free of charge, ensuring you invest safely and profitably, we have various opportunities in the communities mentioned above.

 

Why not complete our 1-minute Investment Criteria Online Form to let us know your preferences, we can then send you specific opportunities matching your requirements? Please, click here to complete the form alternatively you can email me – nick.hyland@masarcapital.ae.

 

If you wish to read the full report from Property Monitor you can do so here.

 

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