Dubai real estate records highest monthly transactions since 2011

Dubai real estate records highest monthly transactions since 2011

Property market attracts nearly Dh160 billion investment in first 8 months of 2022 as investors repose trust in the emirate's bright future

An aerial view of the Sheikh Zayed Road. The off-plan market transacted 4,392 properties worth Dh8.5 billion in August, the highest monthly transaction in 12 years. — AFP file photo

Published: Thu 8 Sep 2022, 5:28 PM

The Dubai real estate market continued to gain momentum as it attracted record Dh24.3 billion investment through 9,720 sales deals in August despite global headwinds. It is the highest performing month in terms of sales transactions volume and value in 12 years, latest data shows.

The emirate’s property market fetched investment worth nearly Dh160 billion in first eight months of 2022 as investors reposed trust in the Dubai's future growth and rushed to invest in residential plots, apartments and villas to enjoy a quality lifestyle in the UAE. Analysts and property experts said sales transactions may exceed expectations by year-end if the upward trend continues with the same pace.

The Dubai’s real estate attracted over Dh20 billion in sales in a third consecutive month despite some cooling measures introduced by the government. It recorded Dh22.75 billion sales in June and Dh21 billion in July through 8,897