Media ININ Economy We Trust
Not a day goes by in the Dubai real estate market without a new record being announced, whether in terms of the number or value of million and billion deals, or its attractiveness to foreign capital, investors and wealthy people of various nationalities looking for a center and a safe haven for housing, work and investment in the long term, and the answer comes without Think: «Dubai».
With the end of the first half of 2023 approaching, the value of housing units, whose value exceeded the barrier of one million dollars (3.67 million dirhams), resulted in 4,250 deals worth 37.5 billion dirhams (10.2 billion dollars), apartments accounted for the largest share in terms of value and number by 33.2 One billion dirhams ($9 billion) resulted from 3,506 deals, while villas approached 4.3 billion dirhams ($1.2 billion) resulting from 740 deals.
Apartments are on top
The total value of residential unit sales since the beginning of the current world (apartments and villas) amounted to 78.5 billion dirhams (21.4 billion dollars) resulting from 41,461 transactions, apartments constituted the largest share in terms of value and number, at 65.6 billion dirhams (36,845 transactions) and about 12.9 billion dirhams for villas (4616 transactions). Deal).
First Quarter
The real estate sector in the Emirate of Dubai continued its exceptional performance during the current year, as it achieved during the first quarter of 2023 real estate transactions amounting to 157 billion dirhams, an increase of 80% in terms of value over the first quarter of last year, following the historical performance of the sector in 2022, which was achieved at the time. Results exceeded half a trillion dirhams (528 billion), and strong sales amounted to 266 billion dirhams.
And he succeeded in maintaining the momentum of great growth and outstanding performance during the first quarter of 2023, after witnessing the registration of 38.7 thousand real estate transactions, a growth of 49% in terms of number, compared to the first quarter of 2022, which witnessed the registration of 26 thousand real estate transactions at a value of 87 billion dirhams. Which confirms the comprehensive and sustainable development approach enjoyed by the Emirate.
Real estate sales amounted to 89 billion dirhams during the first quarter of this year, a growth rate of 62% compared to the first quarter of 2022, in which sales amounted to 55 billion dirhams, while the number of new investors who entered the real estate market in the emirate during the first quarter of this year reached To 13,338 investors, a growth of 12% compared to the same period in 2022. Non-resident investors acquired 45% of the total, an increase of 25%.
