Dubai reports 43% YoY increase in property transactions in August

Dubai reports 43% YoY increase in property transactions in August

Dubai’s property investment market continues to go from strength to strength, with the total value of real estate transactions rising 43% year-on-year (YoY) in August to reach AED33.7 billion (US$9.18 billion).

According to data published by Property Finder, August saw a staggering 11,818 real estate deals, marking a 25% rise from the 9,450 transactions recorded in the same month last year.

More than 6,800 sales of off-plan properties were registered during the month, marking a 63% YoY increase. The property category also accounted for 58% of all sales transactions and half the month's transactional value at AED17 billion, up 103% YoY.

Ten key areas of Dubai, including Business Bay and Jumeirah Village, accounted for 53% of all transactions and more than 65% of the total sales value registered in the city. Both of these districts are key areas of development for The First Group.

The firm, which ranks among the UAE’s fastest-growing hotel developers, currently operates three upscale hotels under its lifestyle hospitality brand, The First Collection in both districts; The First Collection at Jumeirah Village Circle, The First Collection Business Bay and newly opened The First Collection Waterfront.

In terms of established properties, apartments accounted for 59% of all sales transactions, with investors demonstrating a preference for two-bedroom apartments.

Commenting on the sector’s overall performance, Cherif Sleiman, chief revenue officer at Property Finder, said: “Dubai’s property sector continued its steep year-on-year growth trajectory [in August]. We were pleased to see the sustained growth in investor appetite, with the market remaining robust over the holiday months and the off-plan segment witnessing an unprecedented surge.”

We have noticed you haven’t downloaded your exclusive Hotel Investment Report

Learn more about lucrative opportunities in Dubai.

Access The Report

Fill in the form to access your exclusive report!

Thank you for downloading the hotel investment report