Media ININ Economy We Trust
Sales of residential units (apartments and villas) in the real estate market in Dubai set a new record since the beginning of 2023, as it achieved more than 80 billion dirhams resulting through 39,690 transactions, exceeding in terms of number and value the total achieved in 2021 as a whole, and more than half of what Check out the full 2022.
And the data of the website of the “Department of Lands and Properties” in the emirate revealed that sales were distributed to 35,300 sales transactions for apartments, at a value of 68.76 billion dirhams, and 4,390 transactions for selling villas, at a value of 11.9 billion dirhams.
And the year 2021 had recorded sales of apartments and villas, with a value that touched 58.7 billion dirhams, resulting through 27,245 deals, while sales of residential units in the first half of 2022 achieved about 114.5 billion dirhams.
Villa sales in Dubai increased 26% in 2022 to 25 billion dirhams, compared to 19.9 billion dirhams in 2021, and the number of villas sold increased 15% from 8,726 villas in 2021 to 10,077 in 2022.
According to the available data on apartment sales, the year 2022 recorded more than 63,367 apartment sales deals worth 121.5 billion dirhams, compared to 36,170 deals worth 58.7 billion dirhams in 2021.
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First quarter 2023
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 historic performance of the sector in 2022, which achieved At that time, results exceeded half a trillion dirhams (528 billion), and strong sales touched 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.
It also recorded real estate sales of 89 billion dirhams during the first quarter of this year, with 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, it reached 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%.
2021
The total value of real estate transactions in the emirate during the year 2021 amounted to about 299 billion dirhams, resulting from 84,681 procedures, which included 60,922 pledges of allegiance at a value of 150.5 billion dirhams, 20,090 mortgage procedures at a value of 127.8 billion dirhams, and 3,669 gifts worth 20.6 billion dirhams.
