Big start for Dubai realty as January sale deals surge 129%

Big start for Dubai realty as January sale deals surge 129%

Dubai’s real estate sector kicked off 2023 with a flourish, recording more than 128.5 per cent year-on-year jump to 9,800 in sales transactions compared to 5,739 a year ago.

Data provided by Property Finder, a leading regional property portal, shows that the value of transactions in the first month recorded a surge of 178 per cent to over Dh28 billion.

“In terms of value, the transactions for existing properties witnessed an increase of around 42 per cent YoY, reaching over Dh16 billion compared to Dh11.4 billion in January 2022, recording the highest volume and value for the month in a decade,” said the portal.

Scott Bond, UAE country manager at Property Finder, said the new year has definitely been off to a great start, with continued momentum from last year and heightened resilience for Dubai’s property sector. “Led by a steady demand for housing and a rising inclination towards ownership, the coming months seem to behold a great spike in property investments. With evolving consumer preferences and record Y-o-Y success this January, we continue to behold a positive outlook for Dubai’s multi-faceted property sector, as a trusted go-to place marketplace for our customers.”

According to data released by the real estate consulting firm ValuStrat,