According to the Latest Property Insights, the sales of luxury properties in Dubai will increase significantly in 2022, boosted by a spike in interest from foreign investors as high oil prices will actively encourage investments in the GCC region,
while geopolitical upheaval will reinforce Dubai’s image as a safe refuge and will further help in expanding the market. The real estate market had a significant price increase of 35.1% per sq foot, particularly in popular locations like
The Palm Jumeirah, Jumeirah Bay, District 1, and Dubai Hills.
Primary causes of Dubai’s real estate boom
- Limited fraction of propositions, particularly in areas of excellent reputation and value.
- Low or affordable mortgage rates.
- Interest from foreign investors.
- Policies favoring foreigners.
- Strong potential for financial gains.