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.