Dubai real estate market trends: a comprehensive overview with experts - Arabian Business | Blog

Dubai real estate market trends: a comprehensive overview with experts - Arabian Business

The review of real estate supply in Dubai in the first quarter of 2022 is complete. The number of apartments offered totaled 6,000 units and the number of villas offered totaled 260. However, no new office space was noted.

Despite this, the first half of 2022 was successful for the real estate market due to optimism and concrete projects launched after a surge of interest in the market. That said, construction costs and supply issues have become risks for developers and may cause delays for projects in the early stages of construction.

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However, most of the projects have already been sold and it is beneficial for developers to complete them on time or even earlier.

The second quarter of 2022 the number of''proposed apartments increased to 7,000 units and the number of completed villas doubled to 520. About 25,000 more residential units are expected to be completed by the end of the year. Demand for large living spaces and quality apartments continues to grow, especially in famous neighborhoods such as Palm Jumeirah and Dubai Marina.

The office market is also expected to recover, and the Business Bay area has become the top area for office rentals.