Dubai's real estate market continues to soar, defying slowdown predictions with sustained price and rent increases.
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Surge in demand is being driven by millionaire migration and a rebound in population growth
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The real estate markets of Dubai and Abu Dhabi have also been recognised as the top global improvers in 2022
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The latest May 11-26 Reuters poll of 13 property market analysts showed a median rise of 7.5% in Dubai house prices in 2022.
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Prices have stabilised for the first time in five years
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Resale transactions stood at 49.9% of the total market in February
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New UBS research shows Dubai real estate market is fairly valued compared to global peers after years of price declines
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But overall market remains down, with total property transaction falling 50%
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Lockdown caused delay in transferring properties, however transaction levels remained consistent with over a thousand transactions month-on-month.
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Times are challenging but the desire for people to visit, live and work in the UAE has not diminished
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Sales of completed units up 9% in June compared to May
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Mortgage enquiries also increase this week compared to week prior
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