CORE Dubai report Q1 2022

CORE Dubai report Q1 2022

The report highlights “Dubai saw nearly 6,700 units being delivered in Q1 of 2022, while a further 31,000 units are expected over the remainder of the year, keeping the total forecast for 2022 at 38,000 units. Villas continue to form only a small fraction of 14% of all expected deliveries in 2022, while apartment units constitute the remainder. Realization rates may be slightly lower subject to supply chain issues, however, many developers are accelerating their completion timelines and aiming for handover this year in order to take advantage of favourable market conditions.”

Prathyusha Gurrapu, Head of Research and Advisory at CORE says, “Residential sales transaction volumes continue their upward trajectory, with March 2022 transaction volumes being the highest recorded in Dubai’s history. Overall secondary market transactions in Q1 2022 saw a 56% increase compared to Q1 2021 while the off-plan market saw a 120% rise.”

“While secondary market transaction volumes continue to be higher than the off-plan market, the off-plan market is making a stronger rebound after witnessing a sluggish recovery over the last two years. With the recently announced reforms on Golden visas linked to property investment, we expect a further boost to both the secondary and off-plan market.”

Prathyusha adds “Coming