Key figures for July 2023: Developments in the Dubai property market
The Dubai property market continues to attract investors and buyers thanks to its dynamism and growth potential. July 2023 brought new key figures that offer a captivating insight into the current state of the market. This article takes a closer look at this data, highlighting the neighbourhoods that dominated in terms of sales and purchase value, and comparing these results with the previous year.
Key figures for July 2023
The Dubai property market was exceptionally buoyant in July 2023. The total number of sales reached 11,129 transactions, reflecting sustained activity in the sector. The total value of sales climbed to AED 37.7 billion, underlining buyers’ continued confidence in the Dubai property market.
Quartiers en Tête : Sales and purchase value
Some neighbourhoods shone brightly on the real estate scene in July 2023. The JVC district recorded the highest number of sales, with a total of 884 transactions. This trend was reinforced by the Business Bay district, which followed closely behind with 599 transactions.
In terms of purchase value, Dubai Marina dominated the market with an impressive AED 1.9 billion. This Top Area is closely followed by Business Bay, with a cumulative purchase value of AED 1.06 billion. These districts have become epicentres of real estate activity, attracting buyers who appreciate luxury, convenience and a privileged location.
Evolution compared to 2022
A comparison with the previous year reveals some encouraging trends. In July 2022, the total number of transactions was 7120, representing a significant increase of 56.3% in 2023. In addition, the total value of sales rose by 80.6% compared with 2022. These figures reflect a robust recovery in the market after periods of global fluctuations.
July 2023 confirmed the vitality of the Dubai property market. The key figures show strong activity, with some neighbourhoods standing out for their high sales and remarkable purchase values. The positive trend compared with the previous year underlines the solid role played by real estate in the Dubai economy.
For investors and buyers, this data demonstrates the opportunity and viability of the Dubai property market. By keeping an eye on neighbourhoods and monitoring trends, market players can make informed decisions to maximise their investments.
by Dubai Vista Estate