The Ajman real estate market performed well in the first half of 2023 (H1’23), with a total of more than AED7.17 billion in real estate transactions.
The Department of Lands and Real Estate Regulation’s real estate report included this number, which highlights the booming economic activity in the emirate’s property sector and represents a significant growth rate of 15.6% when compared to the corresponding period in 2022.
A total of 5,310 real estate transactions took place during the aforementioned time period, according to Omar bin Omair Al Muhairi, director-general of the Department of Lands and Real Estate Regulation. He added that the fact that these transactions totaled more than AED7.17 billion highlights the strong demand for homes.
3,980 trading operations totaling AED4.57 billion made up the trading volume. There were 972 mortgage transactions, with a total market value of AED1.55 billion.
Al Muhairi added that this performance is consistent with the emirate’s real estate industry’s rising trend and is mostly attributable to a persistent demand for homes and a constant infusion of capital into a variety of real estate projects inside the emirate.
Particularly in May, real estate transactions reached a peak value of AED 1.9 billion, representing an amazing growth rate of more than 133 percent when compared to the same month in 2022.
Additionally, these figures demonstrate the determination and vibrancy of the Ajman real estate market.
