Dubai property prices in 2022
In Dubai, house prices are expected to fall in 2022 due to oversupply. The reduction can be from 5% to 8%. Experts believe that the residential real estate market has not yet bottomed out.
An oversupply of real estate that began in 2014, as well as falling demand, have driven housing prices in Dubai down more than 30% since the market peaked seven years ago. Property prices fall in Dubai the fall was exacerbated by the COVID-19 pandemic.
How real property prices in Dubai may change in comparison 2021/2022
The average house price fell 8% in 2022, while rents fell 12% and are now about 4% below their lowest level reached in 2012.
On the other hand, the market is showing some positive signs. Dubai property prices trend of price decline is slowing gradually, end users benefit from lower prices, favorable payments and interest rates. Dubai property price index despite its decline over the past years, it is starting to go up.
According to Property Finder, in the first three months of 2022, the Dubai property market completed 10,243 transactions. This indicator is 9.8% higher than the achievements of the first quarter of 2021. This is also the highest result of this market since 2017.
With the wide range of installment plans offered by developers on the market today, the opportunity to purchase property at a bargain price will expand for home buyers for themselves, as well as for those who want to move from a rented home to their own. According to the Dynamic Property Price Index, which tracks property price trends in 42 residential communities in Dubai, real estate is becoming more affordable for a large segment of the population.
How the company «K Capital Real Estate» looks at the change in property prices in Dubai
Despite all the changes in the property prices trend, all the problems associated with Covid 19 — our company K Capital Real Estate guarantees that the quality of our product will be at the highest level. High-quality apartments and apartments at the most affordable prices remain our feature and responsibility. We are ready for price changes and we can say with confidence that such a factor will not affect the provision of services in any way.