Off-plan real estate sales in Dubai will continue to soar in 2023

Off-plan real estate sales in Dubai will continue to soar in 2023

Dubai, UAE – According to the 2023 Premium Prediction study from international real estate firm Knight Frank, Dubai's prime residential prices are expected to experience the fastest growth internationally in 2023. Due to the growing interest in the market from high-net-worth people and overseas purchasers, prices are predicted to increase by 13.5% in the upcoming year.

Off-plan sales have had phenomenal growth, accounting for nearly 55% of overall sales volume in 2022 (up from 44% the previous year) and 56% of total sales value (up from 41% in 2021). High-end real estate in Dubai is expected to continue this increase, as the market is expected to continue to be driven by burgeoning international demand.

The Dubai Land Department has registered over 88,014 total transactions from 1 January 2022 to 1 December 2022; this is more than 60% greater than the same time period in 2021, which had 54,674 total transactions.