05/09/2023
๐ ๐๐๐ฏ๐ฎ๐ถ'๐ ๐ฅ๐ฒ๐ฎ๐น ๐๐๐๐ฎ๐๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐จ๐ฝ๐ฑ๐ฎ๐๐ฒ
๐ฅ In August, Dubai's property market sizzled with a 43% YoY surge in transaction value, reaching a staggering Dhs33.7 billion, as reported by Property Finder.
๐๏ธ A total of 11,818 real estate transactions took place last month, marking a 25% increase compared to August 2022.
๐ข Apartment living remains the top choice, with 59% of buyers seeking apartments, while 41% opt for villas or townhouses. Among renters, 81% prefer apartments, and 19% are interested in villas.
๐๏ธ Two-bedroom apartments were the most sought-after, comprising 34% of purchases, closely followed by one-bedroom apartments at 33%.
๐๏ธ Off-plan properties played a significant role, accounting for 58% of total sales transactions and 50% of the transaction value. Off-plan property sales surged by 63% YoY.
๐ฌ Cherif Sleiman, CRO at Property Finder, noted the robust growth and increased investor appetite, particularly in the off-plan segment.
๐ Dubai's property market continues to defy global trends, remaining vibrant amidst economic challenges in other parts of the world.
๐๏ธ The top ten areas contributing to the market's success include Business Bay, Dubai Harbour, Dubai Creek Harbour, Jumeirah Lakes Towers, Jumeirah Village Circle, Sobha Heartland, Al Yufrah 1, Arjan, Jumeirah Village Triangle, and Madinat Al Mataar.
๐ The existing property segment also saw an 11% YoY growth, reaching Dhs16.9 billion.
๐๏ธ Palm Jumeirah, Burj Khalifa, Emirates Living, Dubai Marina, Al Hebiah Fifth, Palm Deira, Arjan, Jumeirah Village Circle, Business Bay, and Dubai Hills accounted for over 40% of the sales value and 34% of the volume.
Dubai's property market continues to shine bright!
