FEM: This year has been a remarkable year for the real estate market in the emirate, with a significant growth in sales
Villa prices in Dubai will rise by more than 100% during 2021
It is expected that villa prices will continue to increase slightly over the next year.
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Firas Al-Masdi: "The real estate sector in Dubai has sufficient capacity to withstand during crises, and is fortified by the system of laws and legislation."
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Real estate expert and CEO of "FEM" Real Estate, Firas Al-Masdi, said that this year was very special for the real estate market in Dubai, where sales witnessed significant growth, especially for villas, with the increase in demand for them by many investors, explaining that « Villa prices in the emirate have increased by more than 100%, compared to last year, amid expectations that prices will continue to increase slightly during the next year.
Al-Masadi said in exclusive statements to "Emirates Today", on the sidelines of a press conference held by the "FEM" company in Dubai yesterday, that "residential apartments will maintain their prices in general during 2022," noting that there will be a discrepancy in prices according to age. The project is close to the sea.
projects
Al-Masdi added that "the real estate market in the emirate has witnessed, during the past two years, the launch of several real estate projects, which include a large number of housing units," pointing to the increase in supply against a slight decrease in demand in separate areas of the emirate.
He explained that "there are 142,500 housing units under construction in Dubai, including 116,000 apartments, 48,000 of which will be delivered during the next year, along with 26,500 villas, including 6,000 villas that will be ready in 2022 as well."
Al-Masdi pointed out that there is a responsibility on the investor with regard to purchase contracts, stressing that whoever wants to buy an apartment must read the contract or go to specialists to know the terms of the contract.
expertise
Al-Masdi stated that the “Corona” pandemic has affected the whole world significantly in various fields and sectors, but he stressed that the real estate market in Dubai has successfully overcome the crisis, with what we are witnessing a remarkable recovery in the sector thanks to government initiatives.
He added, "Dubai has experience in dealing with the pandemic, which will enable it to deal with any developments of its own in the future."
Al-Masdi also stressed that the real estate sector in Dubai in general has a sufficient capacity to withstand during crises, as it remains strong and able to overcome difficulties, whatever their type or source, as the market is fortified by the system of laws and real estate legislation and modern regulations for the sector.
Vacation Homes
In addition, Al-Masdi pointed out that holiday homes in Dubai had the largest share in operating the real estate market during the current year, as it contributed to expanding the range of accommodation options available to visitors throughout the city, especially since these properties and operating companies are fully licensed, and thus meet the requirements of All visitors from all over the world.
• 142.5 thousand housing units under construction in Dubai, including 116 thousand apartments and 26.5 thousand villas.
• Delivering 48 thousand apartments and 6000 villas during the next year.
Most expensive square foot
Real estate expert and CEO of "FEM" Real Estate, Firas Al-Masdi, said that the most expensive square foot sold in Dubai this year was in the "Jumeirah Bay" project, where the price per square foot was 7,000 dirhams.
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