As August 2023 came to a close, Dubai's real estate market continues to exhibit remarkable resilience and growth. The latest statistics for the week reaffirm Dubai's status as a global real estate powerhouse. With a total of 2,561 property transactions and a combined value of 6.56 billion AED, the market remains vibrant and attractive to investors and home buyers alike.
During this period, the real estate market in Dubai saw a total of 2,561 property transactions with a cumulative value of 6.56 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, which includes off-plan properties, continued to thrive with a total of 1,570 transactions, amounting to a substantial 3.34 billion AED in value. This sector's performance highlights the sustained interest from investors and individuals looking to own brand-new properties in Dubai's dynamic landscape.
Secondary Market Remains Stable
In the secondary market, a total of 991 transactions took place during this period, with 464 of them involving mortgage transactions. The combined value of these transactions reached an impressive 3.23 billion AED, with mortgages accounting for 2.92 billion AED. This data confirms the stability and liquidity of the secondary market, providing attractive opportunities for both buyers and investors.
Most Expensive Property
During this week, the spotlight fell on a luxurious 10-bedroom villa located in Sector E of Emirates Hills, which was sold for a remarkable 209 million AED. This sale exemplifies Dubai's ability to cater to high-net-worth individuals seeking exclusive and opulent living spaces.
A glimpse of the top performing areas during this period.
Top Performing Areas - Residential Apartments
In terms of residential apartments, the top-performing areas in value during this week were:
Known for its strategic location, excellent infrastructure, and stunning skyline views, Business Bay continues to attract investors and residents alike.
This development showcases its appeal as a prime location for residential apartments, offering a blend of luxury and modern living.
With its picturesque waterfront location and world-class amenities, Dubai Harbour remains a sought-after destination for contemporary waterfront living.
Top Performing Areas - Residential Villas
For residential villas, the top-performing areas in terms of value during this period were:
Known for its modern community design, Mudon has emerged as a top choice for residential villas, reflecting the diversity of Dubai's real estate landscape.
This well-established community continues to maintain its allure for those seeking upscale villa living.
With its unique offerings and amenities, Damac Lagoons captures the attention of those looking for distinctive villa properties in Dubai.
As Dubai's real estate market thrives and adapts to changing dynamics, these statistics reinforce the city's position as a global leader in innovation and excellence within the real estate sector. Dubai remains the prime destination for individuals and investors pursuing the pinnacle of property investment and lifestyle.