Dubai real estate sector recorded $4.3bn of transactions last week. Dubai real estate to see steady growth as more serious buyers invest in local markets. Dubai property prices up 21%.
Land transactions in June 2024 was 48.07% of the total transactions. The overall market saw a decrease of approximately AED 4.7 billion from May 2024 to June 2024.
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Last week, the Dubai real estate market witnessed transactions worth AED 4,247,502,132. Off-Plan Properties contributed 66.9% whiles Ready Properties contributed 33.1% to the total.
In Dubai, 270 rentals over Dh1 million annually in the first five months of 2024. Rents for three-bedroom properties surged by 15% year-on-year and 21% from 2023 to 2024.
Illegal evictions amid rent hikes spark concern among residents. Home prices surge over 27% compared to May 2023.
Last Week, the Dubai real estate market saw a robust performance with a grand total of AED 10,080,389,190 in transactions, a 27% increase over the week before.
Dubai South Properties sells out the final phase of South Bay in four hours. The UAE economy grew by 3.6% in 2023, surpassing estimates, driven by a 6.2% rise in the non-oil sector.
Abou Eid Real Estate completed the Dhs70 million Celia Residence in Dubai Studio City seven months early and sold all units of its second project. Arada Developments LLC issued a $400 million sukuk.
