Property prices across Dubai continued to rise in March, driven by an increase in investor demand, CBRE says.
The total volume of transactions reached 7,865 last month — an increase of 83.4 per cent compared to a year earlier, while off-plan sales were up 94.6 per cent and secondary market sales up 76.1 per cent.
Total transaction volumes in the first three months reached 19,009.
Average residential property prices rose by 11.3 per cent in the first quarter of this year, CBRE said in its market snapshot. Average apartment prices were up by 10 per cent and villa prices by 20.2 per cent.
Click through the slideshow above to see where apartment prices have risen and fallen.
Where were the highest price increases in Dubai?
In the apartment sector, Green Community saw the biggest month-on-month increase in sales prices in March at 4.9 per cent.
It was followed by Dubai Sports City (4.5 per cent increase), Jebel Ali (4.2 per cent), Remraam (4 per cent) and Business Bay (3.9 per cent).
Palm Jumeirah was up 3 per cent, as was Downtown Dubai, which is the most expensive area for apartments in the city by square foot.
In the villa segment, prices on Palm Jumeirah rose the most at 4.8 per cent, along with Jumeirah, on a monthly basis in March. District One and Jumeirah Islands also had notable price increases of 3.8 per cent.
See the apartment price rises and falls in the slideshow below.
What's driving the rise in prices?
The UAE property market has been rebounding on the back of government initiatives, such as residency permits for retirees and remote workers, as well as the expansion of the 10-year golden visa programme and the economic boost from Expo 2020 Dubai.
The market has also benefited from the country's widespread coronavirus vaccination programme, which has kept cases relatively low.
“Despite the continued increase in the cost of financing and further tightening of payment plans, we have yet to see this impact transactional activity in Dubai’s residential market," said Taimur Khan, Mena head of Research at CBRE.
"In fact, the total number of transactions in March reached 7,865, up from 5,598 a month earlier. As a result, this has been the strongest first quarter on record for Dubai in terms of residential transactions.
"While average prices and average rents continue to increase, we are seeing a moderation in both sales and rental growth rates in the villa segment of the market.”
The UAE economy is expected to grow 4.9 per cent in 2022, Japan's largest lender MUFG Bank said, while Emirates NBD forecasts growth of 5.7 per cent and Abu Dhabi Commercial Bank estimates a 5 per cent expansion.
Meanwhile, S&P Global Ratings said last month that property prices and rents in Dubai's residential market will continue to increase in 2022, in line with the trend seen in 2021.
Properties are also "relatively affordable", with prices 25 to 30 per cent below 2014 levels, despite a significant rise in 2021, the agency said.
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Dubai price changes in March - apartments
- Downtown Dubai - up 3 per cent
- Jumeirah - down 0.2 per cent
- Palm Jumeirah - up 3 per cent
- DIFC - up 2.4 per cent
- The Old Town - up 1.4 per cent
- Jumeirah Beach Residence - down 0.6 per cent
- Business Bay - up 3.9 per cent
- MBR City - up 2.6 per cent
- Dubai Hills Estate - 2.1 per cent
- Dubai Marina - down 1.1 per cent
- The Views - up 0.9 per cent
- Dubai Festival City - up 1.1 per cent
- Meydan City - down 0.5 per cent
- The Greens and The Views - up 1.7 per cent
- Jumeirah Lakes Towers - down 0.4 per cent
- Damac Hills (Akoya) - up 2 per cent
- Dubai Science Park - down 1.9 per cent
- The Greens - up 0.1 per cent
- Jebel Ali - up 4.2 per cent
- Arjan - up 4.2 per cent
- Jumeirah Village Circle - up 1.2 per cent
- Town Square - up 1.1 per cent
- Green Community (DIP) - up 4.9 per cent
- Motor City - up 2.8 per cent
- Dubai Sports City - up 4.5 per cent
- Dubai Production City (IMPZ) - down 2.5 per cent
- Living Legends - down 1.3 per cent
- Dubai Silicon Oasis - down 2.6 per cent
- Remraam - up 4 per cent
- Discovery Gardens - down 1.6 per cent
- Dubailand Residence Complex - down 1.3 per cent
- Liwan - down 2.9 per cent
- International City - up 0.1 per cent
Dubai price changes in March - villas
- Palm Jumeirah - up 4.8 per cent
- Emirates Hills - up 2.9 per cent
- Jumeirah - up 4.8 per cent
- District One - up 3.8 per cent
- MBR City - up 0.2 per cent
- The Meadows - up 2.7 per cent
- Dubai Hills Estate - up 0.8 per cent
- Jumeirah Islands - up 3.8 per cent
- The Lakes - up 2.6 per cent
- Jumeirah Golf Estates - up 2.9 per cent
- Arabian Ranches - up 1.1 per cent
- Meydan City - up 1.2 per cent
- The Springs and The Meadows - down 1.8 per cent
- Al Barari - down 2.6 per cent
- Jumeirah Park - down 2 per cent
- Victory Heights - down 2 per cent
- The Springs - down 0.5 per cent
- Damac Hills (Akoya) - up 0.7 per cent
- Mudon - up 1.9 per cent
- The Sustainable City - down 0.4 per cent
- Jumeirah Village Triangle - down 2.5 per cent
- The Villa - up 1.7 per cent
- Reem - up 1.6 per cent
- Town Square - up 1.4 per cent
- Al Furjan - down 0.5 per cent
- Living Legends - up 2.3 per cent
- Green Community (DIP) - down 1.9 per cent
- Falconcity of Wonders - up 0.2 per cent
- Jumeirah Village Circle - up 0.1 per cent
- Akoya Oxygen - down 0.2 per cent
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1) Breast cancer is men is rare but can develop rapidly. It usually occurs in those over the ages of 60, but can occasionally affect younger men.
2) Symptoms can include a lump, discharge, swollen glands or a rash.
3) People with a history of cancer in the family can be more susceptible.
4) Treatments include surgery and chemotherapy but early diagnosis is the key.
5) Anyone concerned is urged to contact their doctor
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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