In 2022, **** percent of sales transactions in the real estate market were secondary market transactions. Meanwhile, the rest of the sales transactions in the real estate market were off-plan transactions.

The UAE Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Mode of Sale (Primary and Secondary), Business Model (Sales and Rental) and Emirates (Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah and Rest of UAE). The Market Forecasts are Provided in Terms of Value (USD).

In 2019, there were just under ** thousand investment villas in urban areas of the Emirate of Dubai, which were by far the most common type of buildings in the area. Meanwhile, the number of private villas amounted to approximately **** thousand. In rural Dubai, the most common types of building that year were also investment and private villas, totaling respectively *** thousand and *** thousand buildings. Real estate market on the recovery After the 2014 oil crash and the global economy’s disruption due to the COVID-19 pandemic, Dubai’s real estate market finally started to show signs of recovery with the value of real estate transactions reaching just under ** billion U.S. dollars as of the first quarter of 2021, reflecting an increase from the fourth quarter of 2020. The United Arab Emirates’ property sector in general and Dubai’s, in particular, would likely benefit tremendously from the pandemic-delayed Expo 2020 Dubai as the ************* U.S. dollars Expo continues to garner attention and investment from foreign investors. The infrastructure sector has also witnessed growth as the Expo stimulated residential and commercial development at the site, including luxury housing, roadways, shopping centers, hotels, and restaurants. Upcoming trends in the housing market In line with increasing housing demand in the entire Gulf Cooperation Council region, housing supply in Dubai is projected to increase to *** thousand residential units by 2022. In the next few years, house rentals and residential sales in the city would likely rebound from record lows in 2020.