Dubai’s real estate transactions exceed $24bn in Q1 2023

Dubai’s property market hit a new peak in the January-March quarter of 2023, with real estate transactions reaching over $24 billion (AED88.73 billion), posting a whopping 60 percent jump over the same year-ago period, according to the latest industry data.

Importantly, Dubai’s real estate market is expected to see more highs in the coming months, with industry insiders predicting a 10-12 percent surge in the next two quarters.

Robust growth in Dubai’s real estate market

Other industry insiders in Dubai also said the robust growth in the first quarter of 2023 is expected to continue throughout the year, which is a positive indication of the health of the real estate market in the UAE.

Akhtar said the industry data for the first quarter also showed that demand for off-plan residential assets were particularly robust, with a surge in demand for villas, townhouses, and apartments.