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The total volume of transactions in the Dubai residential real estate market in June 2022 reached 7,941, which is 33.3% more than a year earlier. During this period, sales of off-plan real estate increased by 46.7%, and sales on the secondary market - by 24.4%. The total volume of transactions for the year to June 2022 reached 38,901, which is the highest since 2009 for the same period.
Average prices for apartments increased by 8.7%, and for villas - by 19.3%.
As of June 2022, the average prices for apartments in Dubai were 1,103 dirhams per square meter, and the average prices for villas were 1,324 dirhams. Compared to the highs recorded at the end of 2014, these indicators per square meter are 25.8% and 8.3% lower than the peak values for apartments and villas, respectively.
The average rent for the 12 months to June 2022 increased by 21.7%, while the average rent for apartments and villas increased by 21.2% and 24.7%, respectively. As of June 2022, the average rent for apartments and villas was 85,294 dirhams and 255,437 dirhams per year, respectively.
In the rental market, the highest average annual rental rates for apartments and villas, respectively, were found in Palm Jumeirah, where the requested rent averaged 218,413 dirhams, and in Al Barari, where the requested rent averaged 889,225 dirhams.
