From mid-summer to the end of the first month of autumn, 15,926 property transactions totaled $11 billion. It is Dubai’s historical record in value and returns to sales that have not been available since 2009.
In the third quarter, secondary housing transactions led in the market. They accounted for 56.5% of the total number of transactions. These are 9,017 contracts for the purchase of $7.8 billion apartments, flats, and villas. In the housing market, sales reached 6,909 transactions exceeding $3.6 billion.
Dubai Hills Estate and Arabian Ranches are the most popular locations for buying houses with an isolated territory.
Apartments are more in demand in tourist and central areas of the city. These include Jumeirah Lake Towers, Dubai Marina, Jumeirah Village Circle, and Downtown Dubai.
Due to high demand, villa prices are expected to continue to rise in Dubai. At the same time, the Dubai housing stock is expected to increase by 6,000 units by the end of this year. There are new villas in Arabian Ranches 3, Dubai Land, Dubai South, and other popular communities.