According to a recent report by a digital real estate business, Property Finder, there were more than 88,000 transactions of in the real estate sector in the year 2022 worth of record breaking $65 billion.
In its report, Zeitgeist 2022, Property Finder said that sales of 88,028 in the year to November were 60,258 more than last year.
The growth of the property sector in the city is 61 percent higher than in the previous year. Off-plan deals increased by 86 percent when compared to 2021. The structures that are not yet completed are referred to as off-plan property.
The Country Manager at Property Finder, Scott Bond, stated that the turbulent market in 2022 influenced consumer behavior. He said that the real estate market demonstrated outstanding performance due to growing demand and the launch of different events and initiatives like the FIFA World Cup, the golden visa, and the UAE government’s efforts to adopt a digitally powered economy and the off-plan market was stimulated by the aforementioned factors.