Dubai real estate: Sales transactions record over 128.5% YoY rise in Jan, reveals Property Finder

Dubai real estate: Sales transactions record over 128.5% YoY rise in Jan, reveals Property Finder

Recent data shared by the property portal, Property Finder, on Dubai’s real estate sector has revealed that in January real estate sales transactions crossed 9,800 compared to 5,739 in January 2022. These figures reflect a more than 128.5 per cent year-on-year (YoY) increase in volume. The value of transactions witnessed an outstanding increase, recording over Dhs28bn, an increase beyond 178 per cent compared to the same month last year. In terms of value, the transactions for existing properties witnessed an increase of around 42 per cent YoY, reaching over Dhs16bn compared to Dhs11.4bn in January 2022, recording the highest volume and value for the month for in a decade. The data showed a significant evolution in property preferences for both owners and tenants. Scott Bond, UAE country manager at Property Finder said: 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. 2023 has definitely been off to a great start, with continued momentum from last year and heightened resilience for Dubai’s property sector. With evolving consumer preferences and record YoY success this January, we continue to behold a positive outlook for Dubai’s multi-faceted property