Dubai set a record for real estate transactions in the first half of 2023

In the first six months of 2023, the Dubai real estate market set an absolute record in comparison with similar periods of previous years. According to preliminary data, 61,000 transactions were made totaling AED 179.34 billion ($48.83 billion). The record was achieved largely due to the outstanding performance of March, May and June 2023.

In comparison with the first half of 2022, the number of transactions increased by 42%, and their total amount - 57%. In the first half of 2022, 42,971 transactions were made for a total of AED 114.5 billion ($31.17 billion)

Experts expect that by the end of 2023, the total volume of the Dubai real estate market will exceed AED 300 billion ($81.67 billion) for the first time. This is largely facilitated by unprecedented demand from foreign buyers and investors.

In June alone, 17 major real estate projects were launched in Dubai. Most of them are skyscrapers with expensive penthouses.