Sign in
Sign up
In March, Dubai recorded a 53% increase in the value of real estate transactions compared to the same indicator in 2022. The total value of concluded transactions reached 34.2 billion AED ($9.3 billion). This success is due to the growing demand against the background of a broad economic recovery.
In March, 12,000 real estate transactions were registered in the emirate, which is 45% more than in the same period last year (when 8,344 transactions were concluded).
In February of this year, 9,000 purchase and sale transactions were registered in Dubai.
Transactions with off-plan real estate under construction in Dubai accounted for 52.8% of total sales in March and 36.8% of the total value of transactions.
The Dubai Land Department recorded a 95 percent annual increase in the volume of transactions with off-plan housing: 6,400 transactions were registered last month, compared with 3,287 in March 2022.
The Dubai Creek Harbour area accounted for 12% of the total value of off-plan transactions and 10% of the total number of sales, while Dubai Marina accounted for 11.7% of the value of sales with only 3.7% of the number of transactions.
Jumeirah Village Circle accounted for 18.4% of total sales in March and 7.7% of the total transaction value.
Dubai's real estate market performance last year was described by Crown Prince Sheikh Hamdan bin Mohammed as "exceptional" after reporting that the total value of transactions reached a new high of 528 billion AED ($143.77 billion).
