Dubai real estate market. Records 2023

First half records

Over the past six months, the Dubai real estate market has seen a sharp surge in activity among buyers.

According to the Land Department, in the first 6 months alone, more than 57,737 transactions for the purchase and sale of residential premises were completed for a total of $48.8 billion ($77 billion including sales of commercial properties and land). This is more than the same period last year by 58% in terms of the number of transactions and by 42% in terms of the value of residential real estate.

At the moment, this can be considered the highest figure for the first two quarters of the year ever recorded in the history of Dubai property market statistics.

July 2023 records

At the same time, the beginning of July also turned out to be a record one.

So, in just 2 days (July 4-5), transactions were made for a total amount of more than $1 billion. 613 transactions for $496 million, plus 103 mortgage transactions for $351 million.