Presently, the Dubai property market is hotter than ever. Hottest Project Launches In Dubai Property Market in the first quarter of 2022. More than 20,000 transactions worth AED55 billion have been registered so far in the first quarter of 2022. Both ready property and off-plan property markets have grown by approximately 20 percent from the fourth quarter of 2021 to the first quarter of 2022.
Compared to 41,988 total transactions in 2019 and 17,942 total transactions in 2020, over 60,664 total transactions worth AED149.92 billion were registered in 2021, a combined sum total of 2019 and 2022. Taking this into account, this is undoubtedly a good sign for the market.
As of the first quarter of 2022, 20,000 transactions worth AED55 million have been recorded. Considering if moves at the same pace, Dubai might break its previous record and go over AED200 Billion worth of real estate transactions in this calendar year.
Other than Expo 2020, there are many reasons for the inevitable growth of the Dubai property market. With low financing and payment costs, eased visa regulations, and high loan-to-value ratios, the property market is expected to rebound.
Major sums of investment have been easing their way into Dubai. Most major real estate consultants in Dubai believe that most foreign investors, be it in India, the UK, Russia, the USA, or any other nationality in the world, have been taken aboard by Dubai’s his highness, Sheikh Mohammad Bin Rashid’s vision for Dubai and the UAE. Dubai Land Department’s total transactions count clearly demonstrates the results of this global approach.
In the past six months, the Dubai property market has grown immensely. It will certainly grow tenfold in the progressing months of 2022.
Some of the hottest launches in the Dubai property market in Quarter 1 of 2022 were the St. Regis Residences in Downtown Dubai by Emaar Properties, Jadeel at Madinat Jumeirah Living by Dubai Holding, Creek Palace in Dubai Creek Harbour by Emaar Properties, , and The Crest at Sobha Hartland, a community by Sobha Realty.
St. Regis Residences in Downtown Dubai is one of the newest Emaar Properties developments. It is twin-tower building development that can be seen majestically rising in the Downtown Skylines. It is just minutes away from the most pristine landmarks and attractions in Dubai. An apartment at the St. Regis Residences is priced around AED2.2 million.
Jadeel at Madinat Jumeirah Living or MJL is one of the newest developments by Dubai Holding in Dubai. The development has a strategic location at MJL with views of the Burj Al Arab, the only 7-star hotel in the world. Jadeel offers excellent connectivity to famous destinations and landmarks including ease in accessibility to beach areas. The starting price of an apartment at Jadeel is around AED1.5 million.
From a waterfront home to mesmerizing views of the Creek Beach and Dubai Skyline, the Creek Palace, located in the Dubai Creek Harbour, has been a topic of discussion among all the top real estate companies and investors in Dubai. The branded residences offer access to the Creek Beach as well. The prices for apartments in the Creek Palace begin from AED1.1 million.
In the first quarter, Sobha Hartland, located in the Mohammad Bin Rashid City or Meydan, Dubai, as a community has also been gaining popularity. A project by the same developers, Sobha Group, named The Crest at Sobha Hartland is a new waterfront destination launched by them. The crystal lagoon-facing residences offered by them have apartments starting from AED1 million.
In terms of villa community projects, Portofino – Damac Lagoons, La Violeta – Villanova by the Dubai Holding, and Bliss 2 by Emaar in Arabian Ranches have been the hottest new developments.
The most popular community in the last six months has definitely been Damac Lagoons. The community launched by Damac in the latter half of 2021 has been selling fast to this very day. One of their recent launches is that of a phase called Portofino which has been the talk of the town.
La Violeta at Villanova makes another serene addition to the hottest launches in quarter one in Dubai. It makes one of the most desirable communities to live in Dubai because of the plenty of amenities and seamless connectivity to rapidly developing regions of Dubai it has to offer. La Violeta offers mid-range villas and townhouses priced around AED1.5 million.
Bliss 2 at Arabian Ranches 3 by Emaar Properties is a newly launched residential development that is hot right now. The mid-ranged community forms an integral part of the first-ever urban village in Dubai with Townhouses starting from AED1.6 Million only.
Coming to the luxury property market, Six Senses by Select Group in Palm Jumeirah is one of the hottest ultra-luxury projects. These residences are located in the western crescent of Palm Jumeirah. The starting price for an apartment residence in the Six Senses residences is AED10 million. It is a super high-end project that also offers villas starting from AED80 million.
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