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