Property Sales in Dubai Hit 12-Year High in July

According to Property Finder, a listings portal, demand in the secondary market led Property sales transactions in Dubai to hit a 12-year high in July with 4,384 sales deals worth Dh11.18 billion.

The listings portal demand data showed that Villas and town houses in Dubai Hills Estate, Arabian Ranches, The Palm Jumeirah, Damac Hills and Mohammed bin Rashid City were the top areas for transactions.

Dubai recorded 31,757 sales transactions worth Dh73.15bn from the start of the year through to July 31, according to Property Finder estimates.

The top areas for those interested in apartments are Dubai Marina, Downtown Dubai, The Palm, Business Bay and Jumeirah Village Circle.

“In previous years, we normally saw the summer months as a slower market due to holidays and people migrating. However, not this year, despite the fact that many are now starting to travel,” said Lynnette Sacchetto, director of research and data at Property Finder.” Said Property Finder.

“We are still seeing the impressive value and volume numbers [and] July attested to this.”

The average transaction value increased in July, with the overall value of deals at Dh2.5 million, up 10.14% compared with June 2021.

The average transaction value for secondary or ready property increased by 4.62% to Dh2.9m while that for off-plan units rose by 33% to Dh1.9m.