Increase in Sales and Pricing of Properties
The housing market saw high sales of around 12,695 in the month of November which represents a 15.4 percent annual increase. Although this number is a slight decrease from the huge sales number of October. It shows a good and lasting upward trend in the market of Dubai real estate.
Some brokers saw average prices increase by 0.38% these months that continues the market's popularity with people. Sales of properties which do not cost much also rose with transactions under AED 1 million were there for 32.2% of total sales which is up from 26.7% in October.
Apartments have become the top asset class due to rising demand for cosy living options such as studios and one-bedroom apartments. In November, apartments in the group of more than 84% of total residential sales. In the residential sales market, Jumeirah Village Circle was very demanding with 1,035 units sold, followed by Jumeirah Village Triangle with 670 units, and Business Bay with 423 units.