Stable real estate prices are held in their positions thanks to a powerful anti-crisis project and economic support of the population.
But any political changes in the world brings inflation, even in the most seemingly hopeful and stable country.
People from all over the world, and especially from the CIS countries, are now moving to Dubai for development and tranquility. Due to this, real estate prices are increasing. According to the Land Department, in January 2022, the cost of housing in Dubai increased by 33.4%.
Dubai attracts people primarily with its stability and strong support of foreigners:
- High quality of life;
- no income taxes;
- labor and visa reforms;
- stable economy
In 2023, the country’s economy is estimated to grow by 4.5%.
Based on the results of previous years, it is safe to say that the demand for real estate is certainly growing, and due to this, the prices will be increase. Those who bought apartments in Dubai in 2019 can now earn about 48% on renting/ selling.
The Emirate breaks its own records every year:
In 2021, 61,241 real estate purchase transactions were completed. This is the highest figure since 2013.
A simple and logical conclusion follows from this:
Real estate in Dubai is not just a comfort and an investment. This is a stable business that brings people from different parts of the world a large enough income for a comfortable life, as well as a huge number of privileges in the UAE.