Dubai real estate market shows strong growth and emerging opportunities

Dubai real estate market shows strong growth and emerging opportunities

Dubai residential market performance In Q2 2023, Dubai's residential market saw a significant increase in sales volume and value, with over 30,000 property transactions and a total sales value of over AED 91 billion. This was by far Dubai's best-performing Q2 on record, showing a 35% increase in transactions and a 54% increase in sales value compared to Q2 2022. Apartments experienced a surge in demand, with the median price per square foot reaching AED 1,336, the highest on record for Q2. Off-plan villa prices also saw a rapid rise, increasing by 32% compared to Q2 2022, largely due to increased interest in luxury villa communities and attractive post-handover payment plans offered by developers. Affordability has also driven demand in emerging locations. Dubai Marina was the top-selling area for ready properties, while Jumeirah Village Circle led in off-plan sales. Damac Lagoons led the off-plan villa market sales, with 642 transactions valued at AED 1.8B. Prime market demand Dubai's prime real estate market is flourishing, positioning the city as a luxury destination on par with established global markets. The Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island are attracting relentless demand from ultra-high-net-worth individuals (UHNWI) and solidifying Dubai's status as a