AED 102bln Dubai real estate sales this summer, "W Capital" study

AED 102bln Dubai real estate sales this summer, "W Capital" study

- The Dubai real estate market recorded the best summer season ever in terms of sales

- Strong investment demand for Dubai real estate, thanks to wealthy individuals

- 2023 prospects is to be the best year in terms of real estate sales

Dubai- United Arab Emirates:W Capital, a Dubai based real estate brokerage, followed up a record rise in real estate sales in Dubai during summer 2023, confirming the highest numbers for the summer season, exceeding Dhs102bn.

The value of real estate sales this summer is 50% higher than the summer season of last year, which amounted to Dhs68bn.

The number of transactions also increased by 30% to 33,600 transactions this summer, compared to 25,677 transactions for the same period last year.

"The summer sales results were in line with all expectations, with the promising market recording the best summer season in its history in terms of sales value," said Walid Al Zarooni, W Capital CEO.

Al-Zarooni revealed that the market succeeded in providing more attractive opportunities and big chunks of gains that encouraged investors and buyers to pump liquidity into the real estate sector, noting that sales of ready-made villas and apartments recorded remarkable growth with the tendency towards acquiring residential units close to beaches