The Dubai real estate market is experiencing a significant surge in transactions, with a total of 828.5 billion dirhams recorded from 2021 to 2023. This marks a 49% increase in both value and number of transactions compared to previous periods. In the first half of 2024 alone, there were 101,920 procedures, with sales worth 179 billion dirhams in the second quarter.
The top areas in terms of sales volume were Business Bay, Jumeirah Village Circle, and Palm Jumeirah. Residential units accounted for a significant portion of the transactions, with map properties leading the way at 42,493 deals. Mortgages totaled 42.9 billion dirhams, while donations amounted to 11.6 billion dirhams.
The digital era has transformed the Dubai real estate market by increasing accessibility and opening up new opportunities for buyers and sellers alike. Online casinos and digital transformations in various industries have also influenced the way people engage with real estate transactions, highlighting the importance of technology in driving growth and innovation.
The COVID-19 pandemic has had a significant impact on the Dubai real estate market, but it has also shown its resilience in facing these challenges. The market has continued to grow despite these obstacles, with a total of 344.4 billion dirhams recorded through 101,920 procedures in the first half of 2024.
Overall, the Dubai real estate market is experiencing tremendous growth and success due to its adaptability and ability to embrace new technologies while remaining committed to providing quality service to its clients.
