The Dubai property market is one of the most dynamic and exciting in the world, attracting investors and homeowners from all over the globe. This week's performance figures highlight the continuing strength and vibrancy of the market, with a total of 2,378 transactions recorded, valued at 6.58 billion AED.
- The primary market accounted for 1,189 transactions, totaling 2.35 billion AED, while the secondary market saw 1,189 transactions, including 412 mortgage transactions, and a total value of 4.23 billion AED, of which 1.52 billion AED was mortgage value.
- The most expensive property sold during the week was a custom villa in Palm Jumeirah, which fetched a staggering 74 million AED, while the most expensive land was sold in Jumeirah Bay Island for 68.43 million AED.
- In terms of apartments, the most expensive sale was for a five-bedroom apartment in Bluewaters Bay, which sold for 51.90 million AED.
- Meanwhile, in the residential apartments, Dubai Marina continued to be the top-performing area in terms of value, followed by Dubai Creek Harbour and Hadaeq Sheikh Mohammed Bin Rashid. Among residential villas, The Valley emerged as the top-performing area in terms of value, followed by The Fields and Arabian Ranches 3.
The figures for the week of 18th to 24th March 2023 suggest that the Dubai property market is continuing to grow and thrive, with a range of opportunities for investors and homeowners alike. The strength of the market can be attributed to several factors, including the city's reputation as a global business and tourism hub, the availability of world-class infrastructure and amenities, and the government's efforts to attract investment and stimulate economic growth. For investment opportunities and more in-depth analysis, download our latest Q4 2022 Dubai Real Estate Report