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Dubai residential sales hit 35B AED in July
The Dubai real estate market experienced a rebound in July, with residential property sales reaching approximately 35 billion dirhams—a growth of 5.2%. The number of transactions also increased by 3.8%, totaling 9,217 deals. This growth is primarily attributed to heightened activity in the secondary market and a significant rise in demand for apartments, which now account for 62% of purchase requests. The demand is mainly concentrated on studios and one-bedroom units, reflecting investors' growing appetite for high-yield, highly liquid assets. Additionally, expectations of price declines have diminished, with forecasts indicating stability or even increases, as the gap between announced and final transaction prices narrowed to less than 6%. The Sentiment Index also suggests that the market is returning to a sustainable growth trajectory, as sellers are no longer reducing prices, and the discrepancy between advertised prices and actual sale prices has decreased. There is also an increased demand for ready properties, which have become particularly favored by investors and middle-income buyers.
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