Dubai’s real estate market saw a total sales transactions volume worth AED21 billion ($5.7 billion) in July – making it the highest in that month in the past 12 years.
Transactions volume reached 7,092, according to a report by Property Finder, which is a jump of 63.6 percent year-on-year. In terms of value, July recorded an 88.41 percent rise.
“The market reflected solid performance for July supporting all expectations and breaking the market volume peak in 2013, resulting in the highest year-on-year market value transactions,” Scott Bond, the company’s UAE country manager, said.
Ready properties dominated the sales transactions in July at 59 percent – or over 4,000 units. The off-plan market, which had the 41 percent share of all the transactions, saw nearly 3,000 deals, the report showed.
Top searched areas for real estate sales include Dubai Marina, Downtown Dubai, Business Bay, Palm Jumeirah, Jumeirah Village Circle, and Jumeirah Lake Towers, according to the proptech’s own data.
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