6 things you need to know about Dubai’s real estate market in Q3 2022 – Construction Week Online

6 things you need to know about Dubai’s real estate market in Q3 2022 – Construction Week Online

With the highest number and value of secondary market transactions seen this quarter, it is safe to safe that Dubai’s real estate market is in a good place.

Post-pandemic, the market is expecting to rise even further and the raft of demand drivers set in motion over the last few years are now bearing results, reported CORE. Dubai is becoming a leading gateway city to live, work, and play, underpinning its residential and commercial real estate demand.

Here are the top 6 things you need to know about Dubai’s real estate market right now:

1. About 5,700 residential units were delivered

In Dubai, 13,500 units are expected to be delivered in Q4 2022, moving the yearly forecast downward from 38,000 to nearly 32,500 units. Most deliveries continue to be in the apartment segment with only 22% of YTD deliveries being villas. This creates a supply deficit in the villa market.

2. Dubai’s real estate market records the highest number of sale transactions above $27.2mn this year

The city recorded 16 transactions YTD 2022 in the secondary and off-plan market compared to a total of 5 transactions in 2021.

3. Inflation creates an inherent risk for the residential market

While overall market sentiment remains positive, issues around affordability are