Overall, AED 3.92 billions worth of transactions were recorded this week against AED 3.98 billions in the last week. The transactional value of villa deals was the most affected in the week gone by.
The month of July got off to a great start for Dubai's residential real estate market, continuing the trend from the previous few weeks. However, the previous week’s market remained subdued to the long holidays because of EID. A total of 1,601 residential transactions were registered during this week.
During this week, a total of 365 villas were sold worth AED 1.38 billion during the period of the last seven days out of total transaction volume of 1902 units worth AED 4.32 billion. Value-wise, the total residential value was reduced by 7% over the previous week.
Optimistic trend across Dubai’s residential real estate market has also continued into this week. However, an 8% decline has been recorded in the volume of transactions, the value of total sales deals increased by 4% from the previous week indicating the investors’ confidence in the market that is conducive for growth.
Total transaction volume of nearly 2,100 units, the residential market continues to hit the highest weekly figure since the beginning of 2023. A total of 2,053 residential transactions were recorded during the previous week.
Dubai’s residential real estate market had a very solid start to the month of June, building on the momentum from the last few weeks. High activity levels were reported in the week gone by across all categories.
Residential volume across Dubai increased marginally by 5% during the last week of May 2023 as compared to last week, which recorded a total of 1635 transactions over 1554 transactions in the previous week.
Residential demand remained resilient in the third week of May 2023 with apartments contributing heavily to the transaction volumes across key markets, as has been the case over the past few quarters. Overall Volume rose by 7% during the week, with the total number of transactions standing at 1,554 as against 1,448 transactions in the previous week.
Despite a reduction in the number of transactions, there has been a rise of 6% in the total value of transactions registered this week. Overall AED 3.43 billion worth of transactions were recorded this week against AED 3.23 billion in the last week.
During the first week of May 2023, Weekly transaction volume continues with its rising trend, registering a growth of 4% over the previous week. The total number of transactions recorded this week (1 – 7th May 2023) was 1,563 as against 1,503 sales transactions in the previous week.
