The cost of real estate in Dubai in 2022 raised by about 20% in comparison to 2021. And this tendency will remain for the next years as Dubai has been recognized as a “leading world-class residential destination.”
Let’s look at the average residential property prices in 2022 in comparison with 2021.
1. Price per sqft
ALL (off-plan and ready apartments and villas)
Median Price: AED 1,247
Increased by 21.8% vs. 2021
OFF-PLAN
1. Apartment — AED 2K
Increased by 17% vs. 2021
2. Villa — AED 1K
Increased by 22.8% vs. 2021
READY
1. Apartment — AED 1K
Increased by 13.8% vs. 2021
2. Villa — AED 838
Increased by 8.6% vs. 2021
2. Property Price
OFF-PLAN
1. Apartment — AED 1.4M
Increased by 27.5% vs. 2021
2. Villa — AED 1.9M
Increased by 6.6% vs. 2021
READY
1. Apartment — AED 1M
Increased by 4% vs. 2021
2. Villa — AED 2.7M
Increased by 3.9% vs. 2021
As we can see the main trend in price rising is off-plan properties.
Experts explain the phenomena — “it is no longer true to say that an off-plan home will be less expensive than a ready-to-move home. Customers today want products of a far higher caliber; while prices may be more due to organic spaces, distinctive ideas, high-quality materials, and sustainable solutions, the products themselves are of a far higher caliber.”
All data is provided by dxbinteract.