February 2023 records 43% YoY increase with over 9,000 transactions, reveals Property Finder

February 2023 records 43% YoY increase with over 9,000 transactions, reveals Property Finder

- February 2023 transactions recorded more than 43% YoY increase in volume

- The existing (Secondary/ready) transactions recorded around 20% YoY increase in volume by registering more than 4,500 transactions

- The volume of the off-plan properties in February 2023 increased by 77.8% YoY by reaching more than 4,500 transactions

DUBAI, UNITED ARAB EMIRATES: Recent data found by Property Finder, the leading property portal in the MENA region, revealed key figures on Dubai’s consistently flourishing property market. According to Property Finder’s data, February 2023 real estate transactions recorded around 43% YoY increase in volume by crossing 9,020 sales transactions compared to 6,310 in February 2022.

The value of transactions witnessed an outstanding increase recording over AED 26.7 billion, an increase beyond 65% compared to the same month last year. In terms of value, the transactions for existing properties witnessed an increase of around 32.% YoY, reaching over AED 15.6 billion compared to AED 11.8 billion in February 2022, recording the highest volume and value for the month of February for in a decade. Furthermore, the data revealed updated figures showing a significant evolution in property preferences for both owners and tenants.

According to Property Finder’s data, 59.4% of people who have the desire to own