Looking back at 2022
Karina Meirmann
Head of Sales | Real Estate Leader | Driving Revenue Growth in Dubai's Property Market
Records have been broken this year for transaction numbers, highest sales price and highest rental price. Prices are likely to end the year about 50 per cent higher than in 2021, it said, while they are projected to grow a further 13.5 percent next year.
In 2022, developers outdone the previous year by launching a total of 193 new projects, compared to 120 launches for the whole of 2021.?
Dubai hosted 11.4 million overnight international visitors in the first 10 months of the year, up 134 per cent from the same period in 2021. The UAE’s foreign trade is expected to reach Dh2.2 trillion ($599.4 billion) by the end of 2022 as the country's economy proves to be an exception, going against the weakening global trade growth trend amid growing macroeconomic headwinds.
Given the rally in oil and gas prices and the expected increase in production, 2022 has witnessed higher government revenue, boosting public spending further. Government revenue increased in the first half of 2022 by 46.7 percent on a yearly basis to Dh305.6 billion due to an increase in taxes and social contributions. On the expenditure side, current spending rose by 6.1 per cent yearly in the first half of 2022 to Dh180.1 billion compared to 5 per cent during the same period of the previous year.
Top 5 performing areas in 2022:?
Total of:
领英推荐
- 97 projects delivered
- 32,040 units handed over?
- 95,191 sales volume
- 258.7 Billion sales value
Ready vs. Off-Plan Property sales volume:?