Real estate sales in the emirate totalled 46,835 units over the same period

Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, cites a continuously strong surge in the emirates property sector for the second half of the year with recent data indicating that both its resident and commercial markets grew by considerable margins when compared to the same period last year (2022). The residential property market registered AED 93.18 billion in sales between January until June 7th, 2023, a 46.71 percent jump from the same period last year, while the commercial sector experienced a 30 percent jump from the first half of 2022 to reach AED 2.86 billion.

During this time, a 35.25 percent increase in volume was observed, resulting in total sales of 46,835 units, compared to 34,627 units for the residential sector from the previous year; furthermore, the emirate’ commercial sector saw its volume grow to 1,681 units from 1,495 units. This consistent growth highlights a strong and healthy growth for the overall property market in Dubai. The month of May specifically accounted for the highest growth rate for both sectors over the same year-ago period; the residential sector grew 102 percent and logged AED 22.74 billion while the commercial sector grew by 118 percent to reach AED 644.61 million.

Recent data also indicated a 78% increase in sales volume in May 2023, when compared to the same period one year ago, with 11,700 real estate transactions logged last month; this almost doubled the 6,587 sales that were registered in May 2022. Furthermore, Dubai Land Department (DLD) data that shows 691 sales transactions worth AED 1.56 billion were logged in a single day at the top of this week (Monday, June 19th).

Arash Jalili, Founder and Chief Executive Officer of Unique Properties, commented: “Dubai has witnessed a tremendous surge for its property sector this year and this has only continued to increase every month with our best results being witnessed in May. With an increasing influx of ultra-high-net-worth individuals (UHNWIs) entering the market, expatriates who are always seeking a good balance of high quality life, and an always existing demand for properties in the off-plan market in several different areas, we should expect this to continue growing throughout the rest of the year.” 

Along with the myriad/plethora of business opportunities that Dubai has to offer, it was also ranked first regionally and fifth best city to live in by the World’s Best Cities report 2023, a leading global advisor in tourism, real estate and economic development. As the UAE continues to implement forward-thinking policies, Dubai’s appeal as a key attraction for expatriates will be strengthened, and those who are looking for a good work-life balance,  comfortable lifestyle, and profitable career and investment opportunities will continue migrating to the emirate.

About Unique Properties:
Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. As a multi-award-winning real estate company, it is one of the most reputable in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2021, Unique Properties contributed 2% to Dubai's total “off-plan” sales volume and around 1% to its overall real estate economy, which recorded transactions worth $ 82 billion (AED 300 billion). Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients. Learn more about Unique Properties at https://www.uniqueproperties.ae/en/

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E-mail: uniqueproperties@atteline.com