Dubai property market continues to boom with the highest transactions in 13 years

The Dubai real estate market recorded a record-breaking increase of sales transactions worth over AED 114.5 billion during the first half of this year. The highest number of sales transactions in over 13 years.

June 2022 proved to be a record-breaking month for the Dubai property market as it recorded over 8,850 real estate transactions worth over AED 22.69 billion and the highest sales since 2009. A further breakdown shows over 5,880 transactions worth AED 10.9 billion for apartments and around 2,000 transactions worth AED 7 billion for villas.

Business Bay, Dubai Marina, Damac Hills, Jumeirah Village Circle, and Downtown Dubai ranked the highest transactions.
Meydan, Dubai Creek Harbour, and Palm Jumeirah also produced significant results.

This progress highlights the UAE’s post-pandemic recovery programme and strenghtens the key role of Dubai’s real estate sector in transforming the country’s economy. The Golden Visa has also boosted the attraction of Dubai as one of the world’s most attractive and safest cities.

Despite a price drop between 2014 and 2020, residential property prices increased from 6% to 20% in 2021. With a high quality of life, digital development, one of the safest cities to live and no income taxes will continue to attract investors as well as business professionals will continue to boost the real estate sector.