Residential property prices in Dubai are expected to continue to grow in 2022. Real estate volumes should stay at multi-year highs, according to Arqaam Capital. Real estate consultancy Knight Frank expects prices to jump between 4-6 percent. Meanwhile, brokerage firm Haus & Haus expects 18 months of buoyant market conditions, and Savills says prices will continue to rise, but at a more sustainable pace than in 2021. Patterns of demand for villas and high-end properties seen in 2021 will continue in 2022, for example in Palm Jumeirah, where villa price increases of 20 percent were recorded in 2021. There is a shortage of ultra-prime properties in the Emirate, with price increases of 23 percent seen for Burj Khalifa apartments in 2021. Such ‘frenetic’ price increases may not be seen in 2022, said Swapnil Pillai, associate director, research at Savills Middle East, as while the most popular communities have seen the largest growth in 2021, others will play catch up this year.
Momentum will continue in FY 22e as EMAARDEV targets 7k unit launches (2x FY 21e launches), although unlikely to beat FY 21e sales as most of the premium inventory was offloaded in FY 21e. Steady price growth throughout 2022. There is a strong demand for prime off-plan projects and only limited stocks are available in villa communities. Efficient COVID-19 management and Dubai’s attractiveness as a location for digital nomads are being cited as reasons for market buoyancy. High net worth clients continue to see Dubai as a haven, reinforcing the luxury sector and interest is high and constant from international investors.