Dubai real estate deals surge 43% on high investor demand

Dubai real estate deals surge 43% on high investor demand

Property market is headed for another strong year despite challenges posed by inflation and a supply glut; Resolute economic growth in the Middle East expected to drive strong levels of real estate activity in 2023, says CBRE

The real estate transactions climbed to 9,020 last month compared to 6,310 in February 2022, according to Property Finder.

Published: Thu 2 Mar 2023, 3:50 PM

Dubai real estate market continued its upward trend as sales transaction surged 43 per cent in February on high demand from the foreign investors and end-users, according to a report.

Latest data released by Property Finder shows that property transactions climbed to 9,020 last month compared to 6,310 in February 2022, generating sales revenue of more than Dh26.7 billion in February this year — an increase of 65 per cent. The emirate recorded 9,800 sales transactions in January 2023.

The existing (secondary/ready) transactions recorded approximately 20 per cent year-on-year growth in volume by registering more than 4,500 deals. The volume of the off-plan properties also surged 77.8 per cent by reaching more than 4,500 transaction last month.

In terms of value, the transactions for existing properties witnessed an increase of around 32 per cent, reaching over Dh15.6 billion compared to Dh11.8 billion in