June was a bumper month for Dubai's real estate market with 8,897 sales transactions worth AED 22.75 billion.
That's the highest volume of sales for the month of June in the past nine years, according to Mo’asher, which is Dubai Land Department's (DLD) official sales price and rental performance index.
Nearly 40 per cent of the transactions were linked to off-plan units.
The month of June witnessed a 34 per cent increase in terms of volume and a 24.8 per cent increase in terms of value compared to May 2022.
Meanwhile, Q2 2022 saw the highest quarterly volume of sales transactions in a decade with a total of 22,504 transactions worth AED 59.15 billion.
Comparing the quarter-on- quarter data, Q2 obtained 9.61 per cent more in terms of volume and 6.77 per cent more in terms of value.
Rental index
The Rental Performance Index in June recorded a total of 40,924 rental contracts of which 63.2 per cent were new and 36.8 per cent were renewals.
Q2 2022 had a total of 123,856 rental contracts of which 59.48 per cent were new.
The top areas that observed the highest rental transactions in June were Jebel Ali First (1,423 contracts), Al Warsan First (1,311), Al Barsha South Fourth (1,250), Marsa Dubai (1,202), and Business Bay (1,148).
According to Mo’asher, #Dubai’s official Sales Price and Rental Performance index, Dubai’s real estate market records a total 8,897 sales transactions worth AED 22.75 billion, the highest volume of sales transactions for the month of June in the past nine years. pic.twitter.com/ipJ2D3R4TE
— Dubai Media Office (@DXBMediaOffice) July 29, 2022
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