In the first quarter of 2022, the Dubai real estate market broke another record – 8,897 properties sold with a total value of AED 22.75 billion, which was the highest monthly sales since 2013.
About 60% of the total number of registered transactions fell on secondary housing and about 40% on real estate under construction (off-plan). During this period, there was also an increase of 34% in physical terms and 24.8% in value terms compared to May figures.
The real estate market under construction showed a result of 3,554 transactions, the total value of which amounted to AED 7.06 billion. In the secondary real estate market, 5,343 properties were registered for sale in the amount of AED 15.69 billion. The number of transactions on properties under construction in June increased by 28.96%, and the number of transactions with secondary real estate – by 38%.
The second quarter of 2022 was marked by the largest volume of sales in the last ten years – a total of 22,504 residential units sold in the amount of AED 59.15 billion.