Dubai’s real estate market recorded its stronges ransaction
volumes exceeding previous highs.
The Russian-Ukrainian conﬂict had minimal impact on the ﬁrst quarter performance, since
Russians started acquiring property in the emirate by the end of the ﬁrst quarter.
The impact is yet to be reﬂected on the second quarter results.
Primary market (off-plan) sales increased 125 percent year on year, yet ready property deals
accounted for 58 percent of all transactions in Dubai during the quarter.
Townhouse and villa supply makes up 15.9% of overall upcoming property supply
Demand for apartments in key areas across the city, most notably Downtown Dubai,
continues to rise, resulting in a 25% increase in prices year-on-year
Penthouse sales increased significantly throughout the quarter.The most expensive
apartment sale in Q1 was a full-floor penthouse in the Burj Khalifa for AED 73 million.
AED 280 million (US $76.2 million) was spent for the most expensive property ever sold in
Dubai, a custom-built mansion on the Palm Jumeirah.