Dubai's property market continues to be active, with a significant number of transactions taking place and a high total value of those transactions in the week completed from 10th to 17th March 2023 as per the Data by Dubai Land Department (DLD). The primary market is slightly less active than the secondary market, but still makes up a significant portion of the overall market.
Dubai's property market has seen a total of 3,085 transactions worth 7.19 billion AED. Out of these, the primary market recorded 1,631 transactions worth 3.27 billion AED. On the other hand, the secondary market recorded 1,454 transactions, including 440 mortgage transactions, worth 3.92 billion AED, with a mortgage value of 2.14 billion AED.
- Most expensive property sold: 5-bedroom villa in Palm Jumeirah for 150 million AED.
- Most expensive land sold: Al Jaddaf for 38.50 million AED.
- Most expensive apartment sold: 4-bedroom apartment in Bulgari Lighthouse in Jumeirah Bay Island for 80.35 million AED.
- Top performing areas in residential apartments market during the week: Dubai Marina, JVC, Dubai Creek Harbour.
- Top performing areas in residential villas market during the week: Jumeirah Golf Estates, South Bay 1, The Valley.
Overall, the data highlights a robust and active real estate market in Dubai, with a range of options available for both primary and secondary market buyers. While the high-end listings may grab headlines, the top-performing areas for apartments and villas provide useful insights for those looking to invest in the market. Whether you're a first-time buyer or a seasoned investor, keeping an eye on these trends and data points can help you make informed decisions in Dubai's dynamic property market.