Dubai Residential property has witnessed huge growth in the past few years. June 2022 has shown a total of 38,901 transaction volume i.e. huge. The rental growth is also continuing to grow.
Dubai residential market has taken the centre stage with 7,941 total transactions in June 2022 making a jump of 33.3% from a year earlier. During the period,
A total of 38,901 transaction volume has been seen this year till June. Well, this is the highest count since 2009. Over this period, the average prices have also improved by 10.1% with the rates and the sales growing amazingly well in the past few years.
SOME AREAS PERFORMED EXCEPTIONALLY WELL
Jumeirah recorded the highest average sales in the apartments segment with a price of AED 2,079 and for the villas; Palm Jumeirah recorded the highest sales with AED 3,365. In terms of investment, living, and vacationing options, these are two of the most beautiful areas in Dubai.
Over the last 12 months, the average rent has increased by 21.7%,
When it comes to the rental market the highest average annual apartment and villa rents were observed in Palm Jumeirah with rent of AED 218,413 and AED 889,225 average rent in Al Barari.
UAE property market has shown strong recovery post-pandemic and it is back on the track witnessing a huge volume of sales and an expansion in the property market. So, many steps enabled this sea-change in the market with the volume of property sale deals and the price got double. This has been a historic and prolific high witnessed in the past few years. Since 2009, June 2022 has turned out to be record-breaking.
