In June 2023, more than 10.400 real estate transactions worth AED 30.41B (USD 8.3B) were completed in Dubai. Compared to June of the previous year, the number of sales increased by 17.8% and the value by 34.1%. These are the highest results in the past ten years, indicating the emirate’s intensive development of the real estate market.

The number of sales of off-plan properties grew by 46.6% year-on-year, reaching nearly 5.200. This accounts for 49.6 % of all real estate transactions. Such a surge in demand has led to an increase in the cost of real estate currently under construction by 80.3%, to AED 12.6B (USD 3.4B). The most popular off-plan properties for buyers were in the Burj Khalifa District, Dubai Design District, Dubai Creek Harbour, Dubai Harbour, Dubai Hills, Dubai Marina, Jumeirah Lakes Towers, Jumeirah Village Circle, Palm Jumeirah and Umm Suqeim Third. The total value of sales in these areas accounted for nearly 68% of the entire amount of off-plan real estate transactions, with the number of sales reaching 54%.

In the ready property segment, there was a slight dip in the number of sales by 1.3%. That being said, the transaction costs for the year grew by 13.4% to AED 17.8B (USD 4.8B).

According to Property Finder, in June 2023, 57.5% of buyers were in search of apartments, while 42.5% were looking for villas or townhouses. The most popular of these are 2-bedroom apartments at 34.1%, with 1-bedroom apartments coming in second at 33.4%.