Espace Real Estate reveals most successful quarter for its Dubai luxury property sales in Q1

Espace Real Estate reveals most successful quarter for its Dubai luxury property sales in Q1

- Achieved a 28% increase in buyer registrations YoY

- Achieved 55% YoY revenue growth, exceeding its 35% growth target

UAE: Dubai’s leading property brokerage, Espace Real Estate has experienced its most successful quarter within the city’s Luxury Property market, achieving a YoY 150% increase in total sales transactions above AED20M.

Espace Real Estate’s phenomenal performance in the first quarter of the year includes a new record for company revenue achieving a 55% increase above the brokerage's previous best quarter. In other signs of growth in the market, it also saw an increase of 28% in the number of buyer registrations, while also securing a YoY 31% increase in the number of properties sold by the Espace team.

Dubai has been ranked as the world’s fourth-most active market in the luxury residential segment according to a recent global wealth report. Globally, with 219 US$10 million+ home sales during 2022, Dubai ranks just behind New York (244 sales), Los Angeles (225 sales), and London (223 sales). While Dubai's residential market activity recorded a 29% YoY increase across every price bracket in Q1 2023 the luxury end of the market saw the biggest increase in activity.

Transactional Volume Increase Per Price Segment (AED) (Secondary Market Sales)

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