Dubai Real Estate Market Booms with 7.86B AED in Transactions: 3rd of April 2023

The Dubai real estate market has been on the rise over the past week, with a total of 2,430 transactions and a value of 7.86 billion AED recorded between the 25th and 31st of March. It is clear that the market is growing at an unprecedented pace. This article takes a closer look at the current state of the Dubai real estate market and provides insights into its performance over the past week.

The primary market has been particularly active over the past week, with a total of 1,327 transactions and a value of 2.57 billion AED recorded.
The secondary market has also seen some activity, with a total of 1,103 transactions recorded, including 485 mortgage transactions. The total value of the secondary market transactions was 5.29 billion AED, with 3.79 billion AED of that being attributed to mortgage transactions.
The most expensive property sold over the past week was a 4 bedroom villa in Kempinski Palm Residence, Palm Jumeirah, The Crescent, which sold for a staggering 82 million AED.
Jumeirah Bay Island was home to the most expensive land sold, which went for 67 million AED.
The most expensive apartment sold over the week was a 4 bedroom apartment in Orla Palm Jumeirah for 57 million AED.
In terms of value, the top performing areas for residential apartments are Dubai Creek Harbour, Palm Jumeirah, and Business Bay.
For residential villas, Palm Jumeirah, Villanova, and Dubai Hills have been the top performing areas in terms of value.

Dubai real estate market continues to be a hotbed for investment and development, with strong demand from buyers and consistent growth in certain areas. The primary market continues to thrive, with developers launching new projects to meet the growing demand from buyers. The secondary market has also seen some activity, with mortgage regulations helping to boost transactions. Luxury properties continue to be a key feature of the Dubai real estate market, with some of the most expensive properties in the world located in the city. Buyers looking for high-end luxury properties have a range of options available, with areas like Palm Jumeirah and Dubai Creek Harbour offering some of the best properties in the city.


Source : Research Team