Dubai real estate set to tap more HNWIs as September sales climb to Dh24.42b

Dubai real estate set to tap more HNWIs as September sales climb to Dh24.42b

The real estate sector in Dubai expected to continue its high momentum as the pandemic restrictions are lifted in the emirate

Dubai’s real estate attracted over Dh20 billion in sales in a fourth consecutive month. — Supplied photo

Published: Sun 9 Oct 2022, 2:54 PM Last updated: Sun 9 Oct 2022, 2:55 PM

With wearing face masks no longer mandatory in public areas, except for public transportation, mosques, and medical facilities, the Dubai property market is expected to continue to its high momentum as HNWIs reposed trust in the growing sector despite the challenging environment across the globe.

The market is already cruising as September 2022 concluded with 8,649 transactions valuing Dh24.42 billion. This marks an increase of a little over 13 per cent and 24 per cent in terms of transaction volume and value, respectively.

Dubai’s real estate attracted over Dh20 billion in sales in a fourth consecutive month as investors continued to invest in the market. After registering D22.75 billion sales in June and Dh21 billion in July through 8,897 and 7,092 deals, respectively, it attracted record Dh24.3 billion investment through 9,720 sales deals in August despite global headwinds.

The total sales figure in 2022, at the end of September, has crossed AED 184