Dubai's real estate market remains a testament to unwavering strength and resilience, as the latest data for the week ending on September 10th, 2023, showcases impressive performance. With a total of 2,212 property transactions amounting to a substantial 6.42 billion AED in value, Dubai continues to attract investors and homebuyers alike, solidifying its position as a global real estate leader.
Overview of Transactions
During this period, Dubai's real estate market recorded 2,212 property transactions with a combined value of 6.42 billion AED. These figures underscore Dubai's enduring appeal as a premier destination for real estate investment and a high-quality living environment.
Primary Market Flourishes
The primary market, featuring off-plan properties, continued to thrive with a total of 1,119 transactions, collectively valued at 2.48 billion AED. This sector's performance reflects sustained interest from investors and individuals eager to own brand-new properties in Dubai's ever-evolving landscape.
Secondary Market Remains Stable
In the secondary market, 1,093 transactions took place during this period, with 500 of them involving mortgage transactions. The total value of these transactions reached an impressive 3.93 billion AED, with mortgages accounting for 1.37 billion AED. This data reaffirms the stability and liquidity of the secondary market, offering attractive opportunities for both buyers and investors.
Most Expensive Property
During this week, the spotlight shone on a luxurious 6-bedroom villa located in EMOE (Palm Jumeirah), which was sold for a remarkable 202 million AED. This sale exemplifies Dubai's ability to cater to high-net-worth individuals seeking exclusive and opulent living spaces.
Top performing areas during this period
Top Performing Areas - Residential Apartments
Business Bay: Renowned for its strategic location, excellent infrastructure, and breathtaking skyline views, Business Bay continues to attract investors and residents alike.
Palm Jumeirah: As an iconic man-made island, Palm Jumeirah remains a sought-after location for residential apartments, offering extravagant properties and stunning beachfront living.
Downtown Dubai: Home to some of the city's most iconic landmarks and luxurious residences, Downtown Dubai secured a prominent position in terms of residential apartment value.
Top Performing Areas - Residential Villas
For residential villas, the top-performing areas in terms of value during this period were:
Palm Jumeirah: Known for its extravagant properties and beachfront living, Palm Jumeirah maintains its position as a highly desirable location for upscale villas.
Damac Lagoons: With unique offerings and amenities, Damac Lagoons captures the attention of those looking for distinctive villa properties in Dubai.
Jumeirah Golf Estates: Offering a blend of serene living and world-class golfing, Jumeirah Golf Estates continues to be a top choice for residential villas.
As Dubai's real estate market sustains its excellence and adaptability, these statistics reinforce the city's global leadership in real estate innovation and excellence. Dubai remains the ultimate destination for individuals and investors seeking the pinnacle of property investment and a luxurious lifestyle.
