Outlook: Dubai property market likely to face headwinds in 2022 - CBRE | ZAWYA MENA Edition
Dubai’s residential property market is likely to face some headwinds this year compared to past 12 months, but villa and apartment sales will remain strong in a post-pandemic world, according to the latest analysis by real estate consulting firm CBRE.
The market performed well in 2021, with average home prices and rents increasing by 9.3 percent and 8.3 percent, respectively. Last year’s price growth was also the highest since January 2015, while rents continued to be at historic highs, particularly for villas, all thanks to strong demand from both buyers and tenants.
“Looking ahead, in 2022, we expect transaction volumes to remain robust over the course of the year,” CBRE said.
“However, with payment plans offerings tightening and mortgage rates likely to edge up, we anticipate the market will face some headwinds in 2022, at least compared to 2021.”
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