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Sales of secondary and off-plan real estate in Dubai reached a 12-year high in the third quarter

Sales of secondary and off-plan real estate in Dubai reached a 12-year high in the third quarter

Sales of secondary and off-plan real estate in Dubai reached a 12-year high in the third quarter, both in volume and value.

In the third quarter of 2022, a total of 25,456 purchase and sale transactions worth 69.72 billion dirhams (18.98 billion US dollars) were registered, which means an increase of approximately 62% in volume and more than 65% in value compared to the third quarter of 2021.

In September 2022, 4,210 transactions worth 14.66 billion dirhams were made in the secondary segment and 4,439 off-plan transactions worth 9.75 billion dirhams - a monthly maximum — as the dynamics recorded during the year in the Dubai market continued.

In September 2022, secondary real estate recorded an increase of more than 30% in physical terms and more than 32% in value terms year-on-year.

Meanwhile, according to Property Finder, off-pan transactions in September 2022 increased by more than 80% in volume and 94% in value year-on-year.

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