The United Arab Emirates has won 169 billion real estate deals in the Gulf region

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The UAE (Dubai and Abu Dhabi) accounted for 33.4% or $ 46 billion (169 billion dirhams) of total real estate transactions in the Gulf Cooperation Council countries in 2021, according to a recent economic report.

Kuwait Comco Invest reported yesterday that the value of real estate deals in the GCC countries was $ 137.4 billion (505 billion dirhams) in 2021, $ 90.5 billion in 2020 and about $ 96.5 billion in 2019.

The number of transactions last year reached 663,323 compared to 570,080 contracts in 2020, which is due to the fact that real estate transaction activities increase year-on-year by taking advantage of better buying opportunities and mortgaging investors who are interested in mortgaging operations. .

Real estate deals

The report points out that in markets such as Saudi Arabia, the average value of each real estate transaction has risen by 29.7% in Saudi Arabia and 21.6% in Dubai over the past year, indicating investor hunger. Properties characterized by their attractive prices. The report pointed out that the attractiveness of prices in Dubai has contributed to the increase in investor demand for projects under construction put forward by developers, as the value of contracts for projects under construction exceeds 45 billion dirhams by 2021.

After the epidemic casts a shadow over 2020 and pushed prices and investor sentiment to its lowest level, in 2021 it began to gain some momentum as investors continued to seize the buying opportunities available on residential land. Department of Estate throughout the year. As a result, prices in key markets rose at single-digit high rates, with Dubai at least on a percentage basis, seeing an annual increase of about 17% year-on-year, according to the Asset Surveillance Report.

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Townhouse

The villas and townhouse sectors benefited from the demand for real estate hunters, and mortgage investors were eager to obtain lower mortgage rates, and discussions about the potential implications of raising interest rates on credit rates escalated.

By 2022, the report finds that the residential real estate market is now more balanced because the markets have come a long way in the recovery journey, and rents are now moving towards the recovery phase. As investors watch decisions regarding interest rates and wait for the stability of the growth path of net operating income and the stability of real estate capitalization rates, the pace of opportunities is likely to slow.

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  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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