There was a change in the prices of property across the United Arab Emirates. The world is now recovering from the crises. The impact of coronavirus in the everyday life of everyone has diminished. However, investors are worried about what’s to come and how prices for apartments within the UAE will change by 2022.
Market trends in the property sector in the UAE
The demand for townhouses and villas for sale in Dubai will continue to increase across the UAE. This is in line with the isolation of individuals and the desire to improve their health and the growth in residential zones.
For new apartments, the demand for these types of properties is high, however to a lesser degree.
There has been an upswing in number of indicators that indicate that the Dubai real estate market and, in particular, the sales of homes is improving. A majority of real estate companies that specialize in the sale of residential properties have confirmed this trend by observing an increasing revenue growth rate during the first six months in the calendar year. This trend is correlated with the pandemic, when buyers could not redesign their new residences or purchase furniture. In the year of the pandemic, people were more likely to live for the present, which is why the concept of buying an apartment that is ready for move-in has gained popularity.
How will the UAE the property market in UAE will change between 2022 and 2023
According to Bloomberg the real property sector in UAE will continue to grow in the coming two years. Reuters said that the increase rate of home prices could increase to 3% by close of the year. The rate of growth for the next year is expected be 2.5 percent.
The conditions in the real estate market began to change after the outbreak already. From 2014 until 2020, the decline in the value of property was nearly 1/3 of the limit. The combination of this and the Covid pandemic further increased the decrease in prices. In 2021, the prices of property in Dubai were up by 6 to 20%.
The demand of real estate properties is increasing
The cost of housing is about 1/5 more expensive when compared to the cost of loans in the financial crisis of 2010. The inventory of new properties remains high and is currently at more three thousand units.
According to the agency for research the agency, between 2022 and 2023 over 53,000 new homes will be constructed within the Emirate. Many houses are currently under construction and will go in operation soon. Despite the challenges due to the coronavirus, new buildings are being built in the emirate. this will continue into 2022-2023.
Prices for villas in Dubai
Villas for sale in Palm Jumeirah are a popular kind of property for 2021. Villas located in Dubai offer top quality material and design, a sophisticated design, and the highest level of satisfaction. Each villa has everything you need including a spacious space (from 100 sqm to 2.5 square meters) and a secure garden with a pool, parking spaces and green areas
The price for a square meter represents its market value over the past three months. Prices in the above neighborhoods will differ during different times based on changes in fundamental data and the transactions. The prices could rise within a month as a result of the selling of premium units.
Furthermore, the increase in prices for villas during post-covid years can be explained by the fear of losing one’s home of having to distance yourself from the world to protect your health. Another reason to consider is that cottages supply residents with greater room and mobility which is exactly what residents of apartments were lacking in the isolation time.
Fam Properties will help you buy a home in Dubai
What is the best way to buy an apartment in the UAE and not miss out on any funds with regard to investment? What are the areas that are most lucrative in Dubai? Our experts/consultants from our agency will answer all these questions and more. Our agency specializes in professional selection of properties and residential sales. With our assistance we’re certain to help you find the property you’re looking for!
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