Saudi Crown Prince Mohammed bin Salman has notably stated that the Kingdom is "the biggest success story of the 21st century." This assertion underscores the ambitious and transformative efforts underway in Saudi Arabia, particularly in the context of Vision 2030, which includes significant developments in the real estate sector and beyond.

MENA's networking community, fueling women's careers in the real estate industry.

March 2023 took the Dubai real estate market by storm, with a total of 12,157 sales transactions according to the Dubai Land Department open data platform. This is a 44 percent increase year-on-year for sales volume and a 51 percent increase for sales value when compared to March 2022. It was also the second highest month in sales volume ever recorded, with June 2009 still holding the title.

Last year in Q1, I forecasted a strong 2022 in Dubai’s real estate market off the back of 2021, which turned out to be the foundation and laying blocks for the coming year ahead. The biggest point, which became clear when I was forecasting 2022, was the government’s involvement in shaping the overall economy. What we saw throughout Covid, of the government’s proactive measures, was remarkable to say the least and they continued to drive forward their visions and plans in 2022. Due to this and several other factors, 2022 turned out to be the best recorded year in Dubai’s real estate market history. 

Following on from a record-breaking March, in April 2022 the Dubai Real Estate market saw a total of 7,009 sales transactions worth AED 18.3 billion according to the data available on the open data platform of Dubai Land Department. This is a 46 percent increase year-on-year for sales volume and a 67 percent increase for sales value when compared to April 2021. It was also the second highest April on record for sales volume and value, with April 2009 being the highest.

Dubai’s real estate market emerged as one of the top-performing sectors in 2021. This year also started off on a great note, but will the upward trend persist? Lynnette Sacchetto, director of Research and Data at Property Finder, shares the market outlook

When we compare Q1 2022 to Q4 2021 in the Dubai property sales market, we saw a 15% increase in sales transactions volume and 18.5% increase in value which is a significant quarter-on-quarter growth.

What a year 2020 has been for real estate in Dubai. Despite the crisis and the roller coaster ride we saw in transaction flows and buyer sentiment, we are currently in a very interesting place. Prices are now stabilising in prime areas where supply is low, and in some places, rates are also rising. We are starting to see multiple offers for properties in these areas as well. So how did we get here?

Dubai's real estate market has always been one of the cornerstones of this country's success. Whether you're talking about architectural feats such as the Burj Khalifa or the probability that you bought in at the right time; Dubai's real estate is recognised globally. Despite the period of turbulence in the last decade, the property market remains an important source of income for the government and one that will continue to generate successes for investors and homeowners alike.

2017 was a year of change in the Dubai real estate market, where we witnessed real estate trends transform to new and refreshing positions, off-plan sales revive market sentiment and an abundance of supply open the doors for many affordable opportunities in the sales market and offer more options and lower rents in the rental market.

To fully understand what will happen to Dubai property prices in 2017, we need to look at the whole picture, including what transpired last year. In 2016, the stronger US dollar, relatively lower oil prices and resultant liquidity conditions impacted the purchasing power of regional and foreign investors traditionally active in the Dubai real estate market, such as GCC nationals and buyers from countries such as India, the UK and Russia.

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As it stands, there is a sizable portion of the population that the current housing market is not fully serving. Lynnette Sacchetto assesses how Dubai could benefit from the creation of an affordable housing strategy geared at getting more people into their own homes.