Dubai, UAE— Real estate transactions worth AED24.34 billion ($6.62 billion) were recorded in Dubai during August, the highest monthly performance in a decade, said Moasher, Dubai’s official Sales Price and Rental Performance Index.
A total of 9,720 real estate sales were recorded during the month, an increase of 69.57 percent compared to August 2021, said Moasher, which has been launched by Dubai Land Department (DLD) in cooperation with Property Finder.
The secondary market continues to capture the real estate market with the largest transactions by 54.81 percent in terms of volume and 64.91 percent in terms of value. Comparing the overall YoY performance with the same period last year, the secondary market witnessed the second highest transaction volume ever reached in a month through the last decade, which increased by 67.55 percent in terms of volume compared to August 2021, and around 57.35 percent in terms of value.
The top areas according to Ejari Registrations for the most rental transactions in August 2022 were Jabal Ali First (1,579 contracts), Al Warsan First (1,499), Al Barsha South Fourth (1,405), Business Bay (1,399), Eyal Nasser (1,343), Marsa Dubai (1,322), Nadd Hessa (1,237), Mirdif (1,109), Al Barsha First (1,078), and Al Thanyah Fifth (968).
According to Property Finder’s proprietary data, the top areas searched for sales in August were Dubai Marina, Downtown Dubai, Business Bay, Palm Jumeirah, Jumeirah Village Circle, and Jumeirah Lake Towers. The top overall searched areas for villa/townhouse sales in August were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills (Akoya by DAMAC), Mohamed bin Rashid City and Dubai Land.
