Q2 2022 Dubai Real Estate Market Report

Q2 2022

Dubai Real Estate Market Report

Morgan’s International Realty’s quarterly reports reflects the latest market trends and gives a comprehensive view of Dubai’s residential & commercial property markets, the data is acquired from a vast number of reliable sources and it will offer our readers a deep view of the market performance, price movement, hottest communities and much more.

HIGHLIGHTS

Transaction volume increased by 9 % QOQ and 44 % year on year in Q2 2022.

The average transactional price per square foot rose by 7% from quarter to quarter and
by 22% from the same quarter last year, reaching 1,391 AED/sq.ft.

Despite recent UAE interest rate hikes, mortgage transactions remained steady.

The value of transactions above 10 AED million rose by 141 % year over year. Ultra-luxury property (USD 10 million and above) increased by 28% annually and 50% quarter on quarter

Downtown Dubai had the highest value of transactions.69% of these sales were off-plan and resale apartments for projects under development.

Office and retail sales are up 7% annually and down 4% quarterly. The transaction value is increasing 69% annually and 13% quarterly, demonstrating a consumer preference for prime property.