In-Demand: Dubai's Top 5 Residential Destinations
In June, Dubai's real estate market experienced a significant 43.4% year-over-year increase with 13,436 recorded sales transactions.
Despite a slight dip from May's peak, June saw a significant rise in residential transactions, highlighting Dubai's real estate resilience. E&V Middle East's report showcases robust growth in both residential and commercial sectors, driven by strong economic fundamentals and global investor appeal.
"Our June report highlights Dubai's dynamic real estate market and continued growth, reflecting strong economic fundamentals and investor confidence. We remain optimistic about future prospects," said Hadi, CEO at E&V Middle East.
Residential Market Overview
In June, Dubai’s real estate market recorded 13,436 sales transactions, a 43.4% year-on-year increase. The primary market drove this growth with a 61.2% surge in transactions, while the secondary market saw a 23.8% rise, according to E&V
One-bedroom apartments were the most popular, making up over 30% of transactions. Over 50% of sales were priced between AED 750,000 and AED 1.5 million. Average prices climbed in key communities, showing sustained demand. Early signs suggest this year's summer slowdown might be less pronounced, especially in the primary market.
The top five communities by sales transactions in June were:
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Commercial Market Insights
In June, the commercial market recorded a 15% year-on-year decline in sales transactions, mainly due to a significant reduction in hotel apartment transactions. Excluding these, there was a 17% rise in transactions. The total sales value reached AED 7.49 billion, a 31% year-on-year increase, highlighting the market’s underlying strength.
Office space demand remained high, with transactions increasing by 19% year-on-year, The average price per square foot for office space increased by nearly 20%.
Despite a year-on-year reduction of 3,355 rental transactions, rental prices remained strong:
The top five communities by sales transactions for offices were:
Retail sales transactions were highest in:
The outlook for Dubai’s commercial real estate market remains positive, supported by strong economic fundamentals and continued global investor interest.
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Dubai's real estate market continues to showcase impressive resilience and growth, with top communities like Dubai Hills Estate and Downtown Dubai leading the way. The surge in transactions reflects the strong investor confidence and the city's vibrant appeal. At Imlaak.com, we're here to help you 10x your real estate investments in this dynamic market. ????