Dubai’s residential property market is continuing its remarkable turnaround since the UAE caught the world’s attention through its excellent management of the Covid-19 pandemic, with the luxury segment registering its highest proportion of transactions last year. In Dubai’s Covid Comeback - 2022 report, Knight Frank says the number of prime property transactions made up 3.6 per cent of the total sales for the first time in 2021.
“2021 was remarkable for its deal volume, but 2022 year-to-date is explosive, surpassing transactional volume by, or shying away from, a 100 per cent when comparing data month-on-month,” says Hisham El Assaad, Head of Sales at AX CAPITAL, a leading real estate agency that deals with luxury properties in Dubai.
With increased appetite for luxury across apartments and villas and developers remaining extremely bullish during the summer announcing launches and sell-outs in record time with no signs of a project launch slowdown, he believes the market