The temperatures are rising, the sea is getting warm and there is no cooling in sight in the evening - so here's to air conditioning!

Half a year has already passed and the real estate sector in Dubai continues to break records in terms of sales and transactions. With nearly 43,000 sales transactions whose total value exceeded almost AED 115 billion, this is the strongest first half performance since June 2009.

The exceptional performance of Dubai's real estate market can be attributed to the surge in foreign investors. Dubai Expo 2020, which ended at the end of March, and the various visa reforms certainly had a major impact on Dubai's attractiveness as a place to live and invest. Likewise, the efficient management of global challenges, such as the Corona pandemic, and the economic stability will make Dubai one of the best investment destinations worldwide in the long term. Especially the neutral position that the UAE is taking regarding the ongoing war in Ukraine is also boosting investors' confidence in the UAE. Many Russian speakers have been driven to flee their countries as a result of the sanctions and have been able to find sanctuary in Dubai. According to the Henley Global Citizens Report, the UAE will attract the largest net influx of millionaires in the world in 2022.

With the upcoming 2022 World Cup in Qatar, the announcement of many Russian companies relocating from Europe to Dubai and the increasing population, the Dubai real estate market will continue its positive upward trend.

We look forward to the future with excitement and look forward to the next six months. But now we wish you a nice and relaxing summer! 😊☀️

Your Terra Nova Real Estate Team