18 October 2023, ZAWYA
Haus & haus Real Estate – one of Dubai’s leading property companies – has released its Dubai Market Reports for Q3, combining key insights from the company with notable trends observed on Property Monitor.
These are individual reports showing trends and community updates for different communities such as Arabian Ranches, Dubai Hills Estate, Jumeriah Golf Estates, The Palm Jumeirah and Downtown Dubai.
There is also a separate Off Plan report, showcasing this rising segment.
REPORT HIGHLIGHTS INCLUDE
86% of all Off Plan transaction were apartments, 12% were townhouses, and only 2% were villas.
Total value of all off plan transactions was 29,238,109,781 (just under 30 billion). That’s a 93% increase from Q3 2022.
Total sales value of secondary sales market increased by 58% in Q3 compared to same period last year.
Total transactions of secondary sales market increased by 21% in Q3 compared to same period last year.
Average price of secondary sales up by 31% in Q3 compared to same period last year.
Buyers are more active changing their plans, changing their holiday arrangements, and even flying home if it means buying/selling.
It is the people who have been here for many years who are now deciding to buy as Dubai becomes their permanent home. Some have been thinking of buying for a while and are watching prices increase so are no longer waiting around.
There is still a lack of supply across most major communities and while this continues prices are likely to keep rising.