The off-plan market in May is still going strong, driven by high demand and the continuous release of new properties.
1. Total Property Sale Transactions
ALL (off-plan and ready): 11,757
Up 75.9% vs. May-2022
OFF-PLAN: 6,011
Up 83.6% vs. May-2022
OFF-PLAN Apartments: 4,824
Up 102.7% vs. May-2022
2. Total Sales Value
ALL (off-plan and ready): AED 34.2B
Up 87% vs. May-2022
OFF-PLAN: AED 15.6B
Up 98.2% vs. May-2022
OFF-PLAN Apartments: AED 11.8B
Which is 75% of all off-plan property sales value
3. Top 5 Areas in Demand for Off-Plan & Ready Property:
Dubai Marina
JVC
Business Bay
Downtown Dubai
Al Barshaa South Third
4. Average Rental Property Prices
Apartments: AED 52K
Up 11.7% vs. May 2022
Villas: AED 160K
Up 33.3% vs. May 2022
Commercial: AED 102.1K
Up 7.7% vs. May 2022
May proved once again that Dubai’s real estate market is more stable than ever. That’s why, as we enter the summer months, it will be fascinating to see how outbound and inbound travel trends will influence the Dubai real estate market.
*All data is provided by dxbinteract