Dubai residential real estate to reach record levels

Transactions in Dubai’s residential property sector reached their highest-ever monthly level in March, according to real estate management firm CBRE.

In total, there were 11,597 residential transactions recorded in March 2023. This amounts to a 47.3% increase from the previous year.

Transactions for the quarter reached 29,323 – another record.

One record for the increased level of deal-making is the growth in off-plan market transactions and secondary market transactions which have increased by 96% and 12.4%, respectively.

At the same time, average residential prices in Dubai rose by 12.8% through the year as of the end of March.

©2023 funds global mena

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