Real estate worth almost AED 23 billion was sold in Dubai in June

Real estate worth almost AED 23 billion was sold in Dubai in June

8,897 purchase and sale transactions were made in the Dubai real estate market in June 2022. The total value of sold properties reached AED 22.75 billion, which is the highest performance for this month over the past nine years.

Off-plan properties accounted for about 40% of all transactions. Existing properties were the second most popular option among buyers (accounting for almost all of the remaining 60%). The sales volume increased by 34% compared to May 2022, while the total value of sold units grew by 24.8%.

3,554 residential properties worth AED 7.06 billion were sold in the off-plan real estate market. 5,343 buyers opted for existing properties whose total value reached AED 15.69 billion. The number of transactions with off-plan real estate increased by 28.96% compared to May; the number of transactions with existing properties, by 38%.

A total of 22,504 transactions with the combined value of AED 59.15 billion were made in the second quarter of 2022. This result broke the record of the previous ten years. The second quarter of 2022 performed 6.8% better than the first quarter of this year in monetary terms and 9.6% better in physical terms.

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