Unique Properties forecasts 13.5% growth in Dubai’s prime property segment

Unique Properties forecasts 13.5% growth in Dubai’s prime property segment

- Dubai’s mainstream residential market expects an average price increase of 7%

Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, is observing continued growth in the UAE’s prime real estate segment. The nearly 11,000 transactions worth AED 30.5 billion that were recorded in November are being spearheaded by the Qatar World Cup (QWC), the holiday season, and a consistent influx of high-net-worth individuals (HNWIs) entering the country.

Dubai registered a 58.5% year-on-year increase in real estate transactions last month with 10,941 sales, compared to 6,905 deals in the same month in 2021. The emirate is attracting 4,000 high-net-worth individuals (HNWIs) this year, the largest number of any country around the globe, to add to the nearly 70,000 millionaires that currently reside in the city. This has proven to fuel growth in the luxury property segment in 2022 and it is projected that the prime market will carry this upward momentum into the next year as well.

The 2022 QWC has seen immense investor interest make its way into the UAE with many attendees of the event transiting through Dubai. The most sought-after areas for sales in November included Downtown Dubai, Palm Jumeirah, and Business Bay among other locations. Various new