Dubai’s real estate market reports double-digit surge in June 2023

Dubai’s real estate market reports double-digit surge in June 2023

Dubai’s property market has continued its growth run for the month of June. It has defied trends for a mid-year dip to log 10,419 real estate transactions. The emirate’s real estate market saw a 17.78 per cent increase in volume compared to 8,846 in June 2022, reported real estate portal Property Finder. The value of the real estate transactions witnessed a surge of 34.1 per cent compared to the same month last year, reaching Dhs30.41bn. This marks the highest transaction volume and value for the month of June in a decade. Ten areas contributed to almost 68 per cent of the total sales value and 54 per cent of the total number of transactions in the off-plan market. These are – Dubai Marina, Palm Jumeirah, Dubai Harbour, Dubai Creek Harbour, Dubai Hills, Burj Khalifa, Jumeirah Lakes Towers, and Jumeirah Village Circle, as well as Umm Suqeim Third and Dubai Design District. The real estate portal reported that the top areas that buyers looked at for purchasing apartments were Dubai Marina, Downtown Dubai, Business Bay, Jumeirah Village Circle, and Palm Jumeirah. While, Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills, and Al Furjan were the most looked-up areas for those