Dubai reports 214,500 new residential leases in 7 months
During the first seven months of the year, Dubai's real estate market recorded a total of 214,500 lease agreements for residential units, with a 41% increase in demand for one-bedroom and studio apartments, reaching 38,200 contracts in July alone. Most of the sales were concentrated in ongoing projects, which accounted for 9,585 transactions valued at 20.5 billion dirhams, while July's sales totaled 34.5 billion dirhams, including deals involving apartments, villas, and land plots. The best-performing area was Dubai South, with 2,351 transactions worth 2.6 billion dirhams. The most expensive apartment was sold for 166 million dirhams in Jumeirah Second, while Al Warsan First topped the list in the number of recorded deals.
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