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In the categories of apartments and villas in the Dubai real estate market, there was an increase in both sales volume and cost.
According to reports, 6,050 apartments with a total value of 11.7 billion dirhams were sold in Dubai in August of this year. According to Zoom Property Insights, these figures show an increase of about 37% in physical terms and 33% in value terms compared to the previous month.
During this time, it was found that apartments cost an average of 1,508 dirhams per square meter. In August 2022, the cost of apartment transactions ranged from 73,974 to 400,178 thousand dirhams, respectively.
With 1,380 purchase and sale transactions in the villa segment in August 2022, this segment also maintained an upward trend. With an average price of 845 dirhams per square meter, the total value of these transactions amounted to 3.8 billion dirhams. Compared to July 2022 to July 2023, sales volume increased by about 30%, and the cost of sales increased by 3.5%.
By the end of August 2022, the total value of sales will reach 160 billion dirhams, surpassing the previous record set in July 2022, when 9,720 transactions totaling 24.3 billion dirhams were made, according to Zoom Property Insights.
Speaking about the performance of Dubai real estate in 2022, he said that due to its ability to overcome obstacles on a global scale and achieve amazing results, Dubai has surpassed other competing megacities.
