With a value of more than 180 billion dirhams
Dubai real estate sales hit an all-time high in 9 months from 2022
The value of monthly sales has increased since the beginning of September until now 76% on an annual basis.
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Walid Al Zarooni: "The real estate market in Dubai continues to break its records, setting a new level, never seen before."
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Monitoring conducted by "W Capital" real estate brokerage showed the trend of the real estate sector in the Emirate of Dubai, towards recording new record sales during the first nine months of 2022, with a value exceeding 180 billion dirhams, through more than 67,000 transactions, to be the largest sales value. At all during that period, based on the latest data issued by the Land Department in the emirate.
This is the first time that the value of real estate sold in Dubai for the period from January 1 to September 30 of each year exceeds 180 billion dirhams, and the largest value achieved before that period was 116 billion dirhams in 2009, followed by 102.6 billion dirhams last year 2021. Monthly sales since the beginning of this September until now, an increase of 76% year-on-year compared to its counterpart last year.
September of this year also witnessed the highest total value of real estate sales deals in the Emirate of Dubai, with a value exceeding 21 billion dirhams to date, distributed over about 7,425 deals, which is the highest value ever for the month of September, followed by monthly sales of 16 billion dirhams last year. , then 12.6 billion dirhams in 2013.
The third quarter of this year witnessed the highest quarterly sales value ever, exceeding 68 billion dirhams, spread over more than 25,000 deals.
Comparing quarterly data, the third quarter achieved an increase of 9.2% in volume and 13% in value.
The third quarter also showed a remarkable performance and achieved a 55% increase in volume and a 60% increase in value year-over-year compared to the third quarter in 2021.
Commenting on this, Walid Al Zarouni, Chairman of the Board of Directors of the Real Estate Brokerage Company, W Capital, said, “The real estate market in Dubai continues to break its records, period after period, and month after month, setting a new level not seen before in terms of values and volumes. Sales, in a strong indication of the continued momentum and exceptional performance, which started since late last year, and is a strong evidence of the increasing investment attractiveness enjoyed by the real estate sector in the emirate.”
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