According to Mo’asher, Dubai’s official sales price and rental performance index, the real estate market in Dubai saw a total of 8,897 sales transactions worth Dh22.75 billion, the largest number of sales transactions for the month of June in the last nine years.
Nearly 40% of all sales transactions were for off-the-plan homes, while about 60% of all registered sales were for secondary properties. In comparison to May 2022, the period saw a 34 percent increase in volume and a 24.8 percent increase in value.
3,554 homes for a combined Dh7.06 billion were traded on the off-plan market, and 5,343 properties worth a combined Dh15.69 billion were traded on the secondary market. The number of off-plan deals climbed by 28.96% and the number of secondary property transactions increased by 38% in June compared to the same time last month.
With a total of 22,504 transactions of Dh59.15 billion in the second quarter of 2022, it was the largest quarterly volume of sales transactions in the previous ten years. When comparing data from one quarter to the next, Q2 saw increases of 6.8 percent in value and 9.6 percent in volume.
Index numbers
The overall monthly sales index for June was 1.323, with an index price of almost Dh1.29 million. Additionally, the villa/townhouse monthly index recorded 1.347 and an index price of almost Dh2.2 million. The apartment monthly index recorded 1.393 and an index price of Dh1.2 million.
Moreover, in June 2022, the overall monthly rental index registered 0.971 and an index price of Dh52,498. The monthly index for apartments registered 0.974 and an index price of Dh48,226; the monthly index for villas/townhouses registered 0.870 and an index price of Dh133,330.
The overall quarterly sales index for Q2 2022 was 1.328, with an index price of roughly Dh1.27 million. The quarterly index for flats was 1.352, with an index price of Dh1.15 million, and the quarterly index for villas/townhouses was 1.264, with an index price of Dh2.11 million.
Additionally, the flats quarterly index recorded 0.979 and an index price of Dh47,764, the villas/townhouses quarterly index recorded 0.858 and an index price of Dh133,085, and the total quarterly index for rental in Q2-2022 recorded 0.968 and an index price of Dh52,133.