Unique Properties shares Q3 insights, Q4 outlook for real estate in the UAE

Dubai’s population is expected to double and exceed 7 million in the next 20 years

• The supply of super-luxury properties has more than quadrupled this year
• 75% of buyers are looking to permanently relocate to the UAE

Unique Properties, one of Dubai’s leading real estate agencies, has shared its insights on the UAE’s real estate landscape over the past quarter and details what the industry can expect during the final quarter of 2022. The real estate agency cites that pre-construction will remain popular in Dubai, and several other factors will spur real estate growth in the UAE as the year concludes.

Over the past 20 years in Dubai, the renowned Sheikh Zayed road has almost been fully built upon, but developers are now rapidly filling the vacant plots of land with new developments. Several projects incorporating high-end infrastructure and amenities have been announced in the lead-up to Q3 and many have begun launching. With the UAE’s stature as a safe city to live and invest in, high-net-worth individuals (HNWIs) primarily from Russia, India, Germany, China, Great Britain, Pakistan, and France are increasingly buying luxury real estate.

Demand for villas is surging with the number of super-luxury properties priced at upwards of AED15 million quadrupling this year and over 75% of buyers are looking to permanently relocate. The 2022 Qatar World Cup will see this trend continue as affluent attendees will spend on luxury rentals while using the UAE as a short-term base; some will make luxury residential purchases. The UAE’s Golden Visa program, and now its Green Visa program introduced this month, will help inject further investment into the country’s economy.?

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ,?says: “Dubai’s population was recently listed at 3.5 million people and this will likely double over the next two decades. The UAE is a leading global destination that requires continued development of real estate projects to accommodate new residents and citizens. As we approach the end of 2022, updated regulations, immense investment interest, and several initiatives, among other key factors have positioned the country’s real estate sector to maintain its ongoing success.”

Unique Properties notes that prime developments in the UAE will continue flooding the market as developers aim to meet surging demand. Although real estate prices are rising, the finite land that Dubai has will eventually see projects cease and this is a welcome sign for investors looking to make purchases now and over the coming years.