According to the latest report, more than 2023 residential units have been sold in Dubai in the first half of 57000, and that year is expected to be the busiest year for Dubai's real estate market transactions.
Dubai's property market is expected to reach its busiest level in 2023.
According to the latest report from Savills, the global real estate services provider revealed that real estate transaction volume increased by 44% compared to the same period last year, totaling 57700 units. Among these transactions, apartments accounted for approximately 46100 units and villas accounted for approximately 11600 units.
Deal activity levels in the first half of 2023 were 209% higher than the average over the past five years.
The UAE's summer has always been a slow season for property transactions as many people travel. However, the situation seems to have changed recently. Despite the uncertain economic environment, Dubai's real estate market remains popular with residents and international buyers. Swapnil Pillai, deputy director of Savills Middle East Research, said this is a historic shift.
The off-plan market showed strong growth in buyer activity in the first half of the year, with off-plan sales accounting for nearly 53% of units sold.
