A week of Growth & Stability: 10th March 2023

Dubai's Real Estate Market continues to perform well in the beginning of March 2023, showing an impressive growth and stability in the luxury properties market. According to Dubai Land Department data(DLD), in the week spanning from March 3rd to March 10th, 2023, the market recorded a total of 3,030 transactions worth 9.08B AED.

- The primary market (off plan) saw a total of 1,590 transactions valued at 3.15B AED. Meanwhile, the secondary market recorded 1,440 transactions worth 5.94B AED.

- Out of these secondary market transactions, 476 were mortgage transactions, amounting to 4.29B AED.

- The most expensive property sold in the week was a custom villa located in Al Barari, which was sold for 72M AED. The most expensive land transaction recorded was in Dubai Creek Harbour, with a value of 1.58B AED.

- In terms of luxury apartments, a four-bedroom apartment located in Orla Palm Jumeirah was sold for 65.2M AED, making it the most expensive apartment sold in the week.

- Business Bay, JVC, and Palm Jumeirah emerged as the top-performing areas in terms of value in residential apartments.

- In the luxury villas segment, Arabian Ranches 3, The Valley, and District 11 MBR City were the top-performing areas in terms of value.

The Dubai Real Estate Market is expected to continue performing well in the coming weeks, with high demand for luxury properties and strong investor sentiment.

Source : Research Team