Dubai records highest real estate results in 10 years

The real estate market in the emirate of Dubai saw about 7,092 real estate transactions worth AED 21 billion in July 2022, the highest monthly market in the month of July in a decade.

The data shows a significant increase in overall sales volume of approximately 63.56%, while the value of sales saw an increase of 88.41% year-on-year, according to the Official Sales Price and Rent Index. launched by the Dubai Land Department in collaboration with Property Finder.

The official index data, taken from January 2012 as the base year and the first quarter of 2012 as the base quarter, shows that the total monthly sales index for July 2022 was about 1,338 points at a price of AED 1,303,493.

While the monthly apartment index scored 1,414 points at a price of AED 1,218,379, and the monthly villa/townhouse index scored about 1,349 points at an index price of AED 2,162,530.

In addition, the overall monthly residential rental performance index in July 2022 was about 0.978 points at a price of AED 52,248, while the monthly index for apartments scored about 0.981 points at a price of AED 48,688.

Source: gulf