Dubai: The Demand for Luxury Real Estate Exceeds the Supply
- Publish date: Monday، 24 October 2022
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Realtors reported that the demand for Dubai real estate, in all its categories, is constantly increasing, reducing the volume of supply in the market. They also pointed out that the percentage of demand growth varies from one category to another, as it grows at natural rates in the modest housing categories, while it grows at a great pace in the luxury housing categories, where demand outweighs the supply.
In light of this, the prices of prime real estate in Dubai have jumped by 89% in the past 12 months, buoyed by an influx of wealthy buyers who have bought second homes in the city. In the short to medium term, prices are expected to grow by 5-7 percent by the end of 2022.
It is also noteworthy that 152 high-quality sales deals were concluded, exceeding the 93 deals recorded last year during the first nine months of this year.
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