Dubai - Review 2022-2023 Outlook

2022 was a momentous year in the Dubai real estate market – recording the highest volume & value of property sales ever. This New Year is forecast to see mainstream citywide prices increase between 7% - 10% on average. However, competition from off-plan launches and higher mortgage interest rates are expected to put downward pressure on the secondary market. Residential rent rises are predicted to stabilise by end of 2023.