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According to Mo'asher, the official Dubai sales and Rental Price Index, a total of 8,897 purchase and sale transactions worth 22.75 billion dirhams were made in the Dubai real estate market, which is the largest number of purchase and sale transactions for June in the last nine years.
Almost 40% of all purchase and sale transactions were made for off-plan homes, while about 60% of all registered sales were made for secondary real estate. Compared to May 2022, during this period, the volume increased by 34%, and the cost increased by 24.8%.
3,554 houses with a total value of 7.06 billion dirhams were sold on the OTC market, and 5,343 properties with a total value of 15.69 billion dirhams were sold on the secondary market. The number of transactions outside the plan increased by 28.96%, and the number of transactions with secondary real estate increased by 38% in June 2022 compared to the same period last month.
In the second quarter of 2022, a total of 22,504 transactions worth 59.15 billion dirhams were made, which was the largest quarterly volume of purchase and sale transactions in the previous ten years. When comparing the data for one quarter with the next, in the second quarter there was an increase of 6.8% in value terms and 9.6% in physical terms.
