The market highlights for the week of May 22nd to May 28th, 2023 indicate that the Dubai real estate market continues to grow at a steady pace. With a significant number of transactions and an impressive total value, the market demonstrates its appeal to both domestic and foreign investors.
Total Transactions and Value:
- Dubai witnessed 2,641 real estate transactions with a total value of 8,42 billion AED during the specified week. These numbers indicate a flourishing market that is attracting significant investment.
Primary Market (Off-plan)
- In the primary market, there were 1,262 transactions, amounting to a total value of 3.16 billion AED. This segment demonstrates consistent activity in the off-plan segment by investors.
- There were 1,379 transactions on the secondary market, 560 of which were mortgage transactions. The total value of secondary market transactions reached a staggering 5.26 billion AED, with mortgage transactions accounting for 1.74 billion AED.
Most Expensive Property
- The most expensive property sold during this period was a 6-bedroom villa located in the World Islands, fetching an impressive 60 million AED.
Top Performing Areas - Residential Apartments:
1. Dubai Harbour
3. Jumeirah Village Circle
Top Performing Areas - Residential Villas:
2. The World Islands
3. Al Yelayiss 2
The performance of main residential apartment and villa markets reinforces Dubai's real estate industry's diversity and strength. As the market continues to evolve, it presents investors and homeowners with promising opportunities. In addition to the market highlights, last week also saw the highly anticipated launch of Bugatti Residences in Business Bay
, a prestigious Branded Residence that garnered significant attention. Bugatti Residences by Binghatti presents a stunning collection of 182 units spanning 42 floors. Offering an array of penthouses, each residence is named after iconic destinations like Cannes, St Tropez, and Monaco. Inspired by the beauty of the French Riviera and the allure of Dubai's dunes, the exteriors of Bugatti Residences feature captivating contours reminiscent of beach ripples.