Dubai property market may break more records in 2023

Dubai property market may break more records in 2023

Many people were of the view that the rising interest rate is a threat to Dubai real estate. There were no major effects noticed in this regard in 2022.

There comes a stagnant period after a continuous streak of highs, where the growth stops, and things start to go downwards. This is something the Dubai property market is far from experiencing.

It’s moving upwards, and only upwards, surpassing other global real estate destinations. Of course, the Covid-19 pandemic proved to be a roadblock, but even the global pandemic wasn’t able to halt the Dubai property market’s growth for a long period. It eventually got back on track in no time, and the results are there for everyone to see.

I have the same expectations from Dubai real estate in 2023 as well.

With the official sales figures indicated a strong performance in 2022, the Dubai property market is expected to continue the same trend this year. I expect 2023 to be an even better year for the Dubai property market as it continues to attract the attention of HNWIs and foreign investors.

Speaking of HNWIs and foreign investors, they had their eyes on Dubai’s prime areas in 2022. According to early estimates, the luxury sector