Golden time for luxury real estate in Dubai

Luxury real estate in Dubai is becoming more and more popular. Ax Capital experts say that in 2022, luxury real estate will continue to be in demand, and even more international investors will come to the market. If you are looking for real estate for sale in Damac Hills, Palm Jumeirah, or any other district of the city then contact Ax Capital agency.

Property in Dubai

The situation that arose after the closing of Expo 2020 created an optimistic mood in the market. In just one month since the beginning of 2022, 4,083 transactions have been completed. As for the average prices of real estate, then, on average, they increased by 35.1%.

Today, the Dubai real estate market benefits from the influx of foreign investors. In terms of ROI and living comfort, it is in the top ranks of all cities in the world. This is due to favorable policies for visitors, effective visa reforms, and simple taxation.

The luxury property market in the emirate will continue to move on an upward trajectory throughout 2022. In addition, many developers are already presenting new projects that perfectly meet the requirements of wealthy buyers.

Rising prices for real estate in Dubai

Villas are one of the most sought-after types of real estate in the United Arab Emirates. ValuStrat statistics show that Palm Jumeirah artificial island sales have broken all records set earlier in 2014 to date.

Experts say that every month the cost of villas is growing by at least 1%. Also worth noting is the increase in the capital value of villas, which amounted to 2.1%. The report, prepared by specialists, says that the best annual performance is observed on the island of Palm Jumeirah: here the total value growth was 21.2%. Among the price leaders, growth is such areas as:

  • Jumeirah Beach Residence (16.3%),
  • The Views (11.2%), 
  • The Greens (10.3%). 

The capital value of villas has risen almost everywhere, except in some areas. In particular, in the communities of Mudon and Green Community West, prices for villas have remained more stable. As for sales from the most popular developers, the leading positions are held by:

  • Emaar, 
  • Damac, 
  • Nakheel 
  • and Azizi.

Ready-made houses were especially in demand among buyers and investors. According to statistics, 10.5% were sold in the Damac Lagoons community, 9.3% in the Al Furjan area, and 8.5% in the Jumeirah Village area.

A new record of villas for sale in Dubai

The Dubai property market continues its active development, and according to many experts, sales in 2022 (due to the current situation in the world) will increase significantly. For example, the record of the sale of the most expensive villa was recently broken.

It is reported that the villa is located on the artificial island of Palm Jumeirah, it was built by special order, and it has 10 bedrooms. The cost of this property was 280 million dirhams, which is equivalent to USD 76.23 million. 

The owner of the villa can use the facilities of a 7-star spa hotel. The interior of the property impresses with its richness: furniture from the best Italian furniture houses, and premium Italian marble. Also, the owners of the villa get the opportunity to use their own beach, the length of which is more than 70 meters.

Such a transaction indicates that the Dubai real estate market remains stable and relevant, despite the events taking place in the world. And to this day it retains the status of one of the best investment markets.

Real estate agency in Dubai

Do you want to buy property in Dubai? Specialists of the Ax Capital estate agency will select for you a number of the best offers at the best prices.

Zeeshan

Writing has always been a big part of who I am. I love expressing my opinions in the form of written words and even though I may not be an expert in certain topics, I believe that I can form my words in ways that make the topic understandable to others. Conatct: zeeshant371@gmail.com

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