Espace Real Estate releases comprehensive data on sales and rentals across 30 well-known communities in Dubai

Espace Real Estate releases comprehensive data on sales and rentals across 30 well-known communities in Dubai

- Espace Real Estate’s H2 report for 2023 reveals why more people are choosing to become homeowners, why sales transactions are up in more affordable communities and which communities have seen the biggest rental increases

Dubai, United Arab Emirates: A report published by Espace Real Estate has revealed some of the secrets behind the company’s 46% revenue growth in 2023.

Tracking the last six months of activity across 30 communities in Dubai and concentrating solely on the residential sector, the market insights report explains why transactions are down in some of Dubai’s most established communities and why the supply and demand imbalance in the secondary sales market is leading to substantial increases in the rental market.

Location, location, location?

The report indicates that Dubai’s more affordable communities are benefitting from the inflated prices of more established locations. In the villa and townhouse market, transaction volume was down in H2 2023 in areas such as Palm Jumeirah, The Lakes, Dubai Hills and Jumeirah Park, whereas communities a little further out of the city, such as Mira and Mudon, experienced an uptake in transactions.

A deep-dive into the sales figures, looking at the overall market

- Total property sales transactions are up in both the off-plan and secondary