Dubai Sales House Price Index - January 2022

It has been 120 days since Expo2020 started and the greatest show in the world had ripple effects on the Dubai real estate market. January 2022 is the best start to the year on record with 5,797 sales transactions worth AED 16.69 billion.

In January 2022, 53 percent of all transactions were for secondary/ready properties and 47 percent were for off-plan properties. When we look at the volume of transactions, the off-plan market transacted 2,706 properties worth a total of AED 5.32 billion. The ready market transacted 3,091 transactions worth AED 11.37 billion.

Comparing January 2022 month-on-month to December 2021, off-plan value fell by more than 6 percent but the volume increased by 5.58 percent. Secondary volume increased by more than 1.74 percent and value increased by 13.68 percent. Looking at overall transactions, total transaction value increased by 6.40 percent and volume increased by 3.5 percent compared to December.

Comparing overall performance for the month compared to January 2021, January 2022 had 74.56 percent more transactions with 145.31 percent more in value. Comparing it to the exact time period last year, the secondary volume increased by 30.70 percent and value by 106.77 percent .

The rebound we have seen in the off-plan market has been significant, as off-plan sales transaction value increased by 307.88 percent and volume increased by 183.05 percent. There are many questions as to how 2022 will pan out.

Based on numerous factors such as the data and trend patterns, it looks like 2022 will continue on an upward trajectory when it comes to sales volumes and price increase in prime, popular areas. New supply will be low in prime areas and in certain asset classes, such as villa/townhouses, therefore we can continue to expect price increases in these areas as demand continues to be strong. The off-plan segment will most likely not cool down anytime soon due to investor sentiment, attractive pricing, the lure of Dubai and overall good projects launching in the market. During the pandemic, many developers took a step back and really assessed the market to understand what type of projects to build which checked all of the boxes for investors and consumers alike.

Download the full report here: Sales House Price Index - January 2022