Continued Momentum in Dubai's Real Estate Market

Dubai's real estate market, predicted to grow by 15% in 2024, stands in stark contrast to the challenges and sluggish growth expected in the London property market in the coming year, as indicated by the latest AI-based research.  As for the final week of August 2023, Dubai's real estate market continues to showcase robust performance, solidifying its reputation as a global hub for property investment and upscale living, with a total of 2,590 property transactions amounting to a substantial 7.18 billion AED in value, reaffirming unwavering investor confidence.
Overview of Transactions
During the period from August 21st to August 27th, 2023, Dubai witnessed a total of 2,590 property transactions, amounting to an impressive 7.18 billion AED in total value. This data reaffirms Dubai's position as a top choice for real estate investment and a premier destination for those seeking a higher standard of living.
Primary Market Continues to Thrive
In the primary market, where off-plan properties are in high demand, there were 1,491 transactions, collectively valued at 3.86 billion AED. This sector's performance underscores the sustained interest from both investors and end-users in Dubai's real estate landscape, highlighting the appeal of owning brand-new properties in this vibrant city.
Stability in the Secondary Market
The secondary market remained stable, with 1,099 transactions occurring during this period. Among these, 568 involved mortgage transactions. The combined value of these transactions reached 3.32 billion AED, with mortgages accounting for 1.98 billion AED. This data reflects the enduring stability and liquidity of the secondary market, offering attractive opportunities for both buyers and investors.
Most Expensive Property
During this week, the spotlight was on a custom villa located in Frond H - The Fronds, Palm Jumeirah, which was sold for an impressive 76 million AED. This sale exemplifies Dubai's ability to cater to high-net-worth individuals seeking exclusive and luxurious living spaces.
A glimpse of the top performing areas during this period.
Top Performing Areas - Residential Apartments
In the residential apartment category, the top-performing areas in terms of value during this week were:
Palm Jumeirah: This iconic man-made island, known for its extravagant properties and stunning beachfront living, maintained its position as the most valuable area for residential apartments.
Business Bay: Business Bay, with its strategic location, excellent infrastructure, and breathtaking skyline views, continued to attract investors and residents alike.
Downtown Dubai: Downtown Dubai, home to some of the city's most iconic landmarks and luxurious residences, also 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:
The Valley: Offering a serene and family-friendly community, The Valley emerged as the top-performing area for residential villas, reflecting its appeal to those seeking spacious and comfortable homes.
Palm Jumeirah: Palm Jumeirah, with its extravagant properties and beachfront living, maintained its position as a sought-after location for upscale villas.
Mudon: Mudon, known for its modern community design, emerged as a top choice for residential villas, showcasing the diversity of Dubai's real estate landscape.
As Dubai's real estate market continues to thrive, these statistics affirm the city's position as a global leader in innovation and excellence within the real estate sector. Whether you're an investor or someone seeking a dream home, Dubai remains the prime destination for those pursuing the pinnacle of property investment and lifestyle.


Source : Research Team