Dubai Real Estate Trends 2023
The year 2022 has been great for Dubai real estate market. The market has witnessed a boom with the registration of many new contracts and an increase in sales. The city’s tourism boom and rise in purchasing power have fueled the real estate market. According to the analysis, the prime residential market in Dubai will post a strong double-digit price growth and lead global markets in the coming year. As the new supply is going to hit the market, the price of the properties is expected to increase gradually, by 20 to 25 percent per year.
In the coming year, the prices of properties will continue to increase for the next couple of years. Note that more than 35,000 new housing units are available on the market and as many as 53,000 new units are expected to be commissioned during 2022-2023. A part of this is already completed and on sale, but the new areas will be developed based on the demand for Real Estate Investment in Dubai
This will drive the realty sector to a whole new level. The market has been attracting investors for quite some time now and in the coming year, it is going to reach its peak. The growth expected in the year 2023 of this city will not only boost the real estate sector but also will positively impact the overall economy of the country.
On the whole, Dubai is an extremely secure place to live as it offers a secure environment to enjoy luxury possessions, extremely low rates of tax, long-term visas, minimum bureaucracy, and excellent connectivity.
If you are planning to invest in the real estate market in Dubai, then now is the best time. Dubai’s tourism industry drives both international and domestic demand for real estate in the city. And the coming years, are going to witness an upsurge in the demand. If you are interested in making a real estate investment in Dubai, then make sure to keep up with the industry trends. You can also partner with our realty experts, and they will help you in finding the best properties to invest in. Check out the various investment options available at https://www.sweet-home-dubai.com/ or give us a call at +972 03-644-44-46.