According to the official indicator of sales and rental performance
May 2022 records the highest number of real estate transactions in Dubai in 10 years
The official indicator of the performance of sales and rents in Dubai "Musher", which was launched by the Dubai Land Department in cooperation with "Property Finder", showed that the real estate market in Dubai witnessed the highest number of real estate transactions recorded last May for more than 10 years, with a total of 6,652 transactions Real estate sale, with a value of about 18.4 billion dirhams, achieving a significant increase in the number of sales transactions by 51.60%, and about 66.14%, an increase in the value of sales transactions, compared to the same period last year.
sell indicator
The general monthly real estate sales index scored 1,296 points during May 2022, bringing the value of the index selling price to 1,261,379 dirhams, while the monthly residential apartments index scored 1,368 points, and the index value reached 1,175,363 dirhams. The villas and townhouses index also recorded House» monthly scored about 1,338 points, and the value of the index was about 2,150,469 dirhams.
In turn, the general monthly rent index scored about 0.962 points, and the value of the index's rental price was 52,013 dirhams;
While the monthly residential apartments index scored 0.966 points, and the value of the index amounted to 47,910 dirhams.
The monthly index of villas and townhouses recorded 0.867 points, and the value of the index amounted to 132,401 dirhams.
positive performance
Index data for the month of May highlights the continuation of the positive performance achieved by the real estate sector in Dubai during 2022, as the total number of real estate sales transactions continues to rise to exceed the average monthly transactions for 2021, while the general selling price index shows strong growth since June 2020. .
secondary market
In turn, real estate sales in the secondary market continue to dominate the real estate market transactions by achieving stable growth, which witnessed the registration of the largest number of real estate transactions by 58.55% and a growth in their value by 66.29%.
The growth in the number and value of transactions confirms the strong performance of ready-made properties. As for residential apartments, they accounted for 82.34% of the total transactions, while villas and townhouses represented 17.66%.
sales transactions
Real estate sales transactions recorded an exceptional annual performance in terms of the number of transactions during the first five months of this year, as they witnessed the registration of about 34,126 real estate transactions, compared to about 20,713 transactions in the same period in 2021, which reflects a significant growth of 64.76% over annual basis.
Registered contracts
The total lease contracts registered in May amounted to about 35,327 contracts, 59.6% of which are new contracts, and 40.4% are renewed contracts.
The percentage of residential real estate lease contracts amounted to 73.8% of the total contracts, while 25.3% of the lease contracts were for commercial real estate.
Residential demand
Property Finder data revealed that the most requested areas in searches for apartment sales in May 2022 were "Dubai Marina", "Downtown Dubai", "Palm Jumeirah", "Business Bay", Jumeirah Village Circle, and Jumeirah Beach Residences.
The most popular villa/townhouse communities in sales searches were: “Arabian Ranches 2”, “Dubai Hills Estate”, followed by “Arabian Ranches 3”, “Palm Jumeirah” and DAMAC Hills (Akoya by DAMAC). , and springs.
"Dubai Marina" was the most sought-after in searches for apartment rents in May 2022, followed by "Downtown Dubai", Business Bay, Jumeirah Village Circle, and Jumeirah Lakes Towers.
The most requested villa/townhouse communities in the searches were "Dubai Hills Estate", followed by "Palm Jumeirah", "Arabian Ranches", Mirdif, and Al Barsha.
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