Due to factors including the growing desire for Dubai as an investment destination, the loosening of land ownership laws, the growing number of foreigners moving to the Emirate, and developers’ flexible payment plans, the real estate market in Dubai is still expanding at an exponential rate.
This increase in activity, which has been a recurring pattern in the post-pandemic market, demonstrates the ongoing demand for real estate in Dubai, particularly from domestic and foreign investors. The third quarter’s 50,423 sales transactions reflected a 37.9% YoY and a 16.6% QoQ rise in sales volume.
This is the highest quarterly sales number ever recorded, surpassing the previous record of Dhs 124.07 billion ($33.8 billion) achieved in the second quarter of this year, a 14.4% QoQ rise. With first-sale properties leading the way, this impressive performance record represents a 30.1% YoY value gain.
With an astounding 39,054 sales transactions in Q3 valued at almost Dhs 70.5 billion ($19.2 billion), or 77% of all transactions, the apartment market remained in the lead. When compared to the same quarter last year, this figure represents an astounding 43.9% rise in volume. With 8,156 units sold for approximately Dhs 39.2 billion ($10.7 billion), villa sales came in second place with a significant contribution, showing a rise of 16.6% YoY and 18.4%.
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