In this article, we review the local property market and analyse the key stats in this Q2 Dubai Market Report and share the outlook for the months ahead.
While there are many aspects that as a property investor you may weigh up when looking to purchase in a particular location, how the market is performing generally in recent times can give an extremely insightful indication as to what’s to come, especially in terms of the trends that can then be deciphered for your own portfolio as a result.
In Dubai, it’s no secret to our blog readers or social media followers that the picture has remained extremely promising in recent times, with record-breaking figures for both sales and rental yields in almost all areas of the city.
Let’s take a closer look at how the Dubai property market performed in Q2 2022, to find out what the figures suggest lies ahead for existing or potential investors.
Dubai Q2 2022 Key Takeaways
- Between June 2021 and 2022, there were 37,116 property transactions in Dubai which is a 60.78% YoY increase – Property Trends
- 37.43bn worth of property sales happened between April 1st and June 1st 2022 – Dubai Land Department
- Average annual rent in Dubai reached AED 82,000 (£18,125) in May 2022 – CBRE
- Downtown Dubai averaged the highest rent of any area in the city at AED 166,891 (£36,890) giving a MoM increase of 4.6% – CBRE
- Rents increased by an average of 16.2% in the year to April 2022 – CBRE
- The population of Dubai rose to 3.5 million in April 2022 – the UAE government is aiming to raise this figure to 5.8 million by 2040 – The National News
What do the latest statistics tell us about Dubai’s property market?
The overall picture for Dubai Q2 2022 clearly demonstrates a continual upward growth trend. The statistics about the population growth of Dubai certainly underpin all of the above findings.
Developments are happening in almost all available areas of land in the city, as the government is not only pushing but is succeeding in making Dubai a global destination for business and innovation. At present, a quarter of the world’s cranes are currently stationed in Dubai as the transformation work takes shape.
As more people flock to the city to work, visit and invest here, the demand for property naturally rises. The good news for those who are yet to invest here is that since the full plans for the city are yet to reach fruition, there is still plenty of opportunities to secure property in Dubai at a favourable rate.