One-bedroom flats in Dubai were the most popular choice, accounting for over 30% of transactions.
Dubai’s real estate sector demonstrated ongoing expansion in June, according to the latest report. The residential market recorded 13,436 sales transactions, a 43.4 percent increase compared to the same period last year. The primary market led this growth with a 61.2 percent surge in transactions, while the secondary market saw a 23.8 percent rise.
One-bedroom flats were the most popular choice, accounting for over 30 percent of transactions. More than half of all sales were priced between AED750,000 and AED1.5 million.
The top five communities by sales transactions were Arabian Ranches, Business Bay, Damac Hills, Downtown Dubai, and Dubai Hills Estate.
Dubai real estate resilient
In the commercial sector, sales transactions declined by 15 percent year-on-year, citing a “significant reduction” in hotel apartment transactions.
However, when excluding hotel apartment transactions, there was a 17 percent increase. The total value of commercial sales reached AED7.49 billion, a 31 percent year-on-year increase. Office space demand remained high, with transactions increasing by 19 percent year-on-year. The average price per square foot for office space increased by nearly 20 percent. Despite a reduction of 3,355 rental transactions, rental prices showed increases across key segments. Office rents rose by 20 percent year-on-year, retail rents by 11 percent, and warehouse rents by almost 19 percent.
The top five communities by sales transactions for offices were Deira, DIP, Business Bay, Dubai Industrial City, and Business Bay, while retail sales transactions were highest in Deira, Bur Dubai, International City, JLT, and JVC.