Dubai records real estate sales record during H1 2023

Dubai records real estate sales record during H1 2023

Dubai leads the world in luxury home price growth during the same period

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Dubai, UAE: One of Dubai’s leading real estate agencies, Unique Properties, has observed an unprecedented surge in Dubai’s real estate sector, with a total of 60,440 sales transactions worth AED 177.3 billion being recorded during the first half of the year. The value of real estate sales recorded in the first six months of the year exceeds the annual sales value recorded each year in Dubai from 2009 to 2021, while also showcasing a 46.71% jump for the residential property market and 30% for the commercial sector when compared to the same period last year.

Throughout this time, Dubai witnessed the largest real estate sales deals in its history with transactions, including a land sale covering an area of approximately 203 million square feet in the adjacent Maktoum International Airport area, valued at AED 3.8 billion. Furthermore, the most expensive apartment sale ever was recorded at AED 410 million in the Bulgari Residences project on Jumeirah Bay Island.

Dubai has also witnessed a strong surge for its residential market. According to ‘Savills World Cities Prime Residential Index,’ the emirate ranks as