This shows that there was a dramatic rise on the sales volume in the real estate segment in Dubai and this was mainly due to high demand in the first semester of the year 2023. Lauded real estate firm haus & haus reported that sales volumes are 30 percent higher compared to last year and noted that consumption high in May.
Transaction volumes in May reached 47. 7% month-on-month and 45. 9% year-on-year; Property Monitor shows this increase because the market is strong and developing as the DN’s population grows.
The managing director of haus & haus Real Estate Simon Baker showed a positive attitude towards the constantly sustaining the growth of the market and initiating that the average price in this year 2024 would be increasing nearly 7%. Further, it is quite encouraging to see that volumes in Dubai market still growing as per the projected population growth, which is quite positive sign More so, it is quite encouraging to see that the market seen in first half of this year has been maturing, where sales values are increasing at a slower and healthy pace, revealed Baker.
There was a 71% rise in buyer registrations of the company during the same period as haus & haus proving strong interest and confidence in the market. May showed rather demonstrative activity partially caused by the transactions which were shifted from April because of flooding evidencing the market’s prospects.
The villa segment stood out as one of the most dynamically developing ones, which could be explained by the increase in the population’s need for additional homes for families in Dubai. According to Property Monitor, transaction activity for villas was up in the first half such in 2023. Developers retaliated by introducing additional villa and master community projects; 3323 villas were introduced, many of which are possibly to be completed in 2028.
Large developers including Emaar are also extending some of its strategic communities including the oasis and grand polo club & resort to accommodate more people. These areas continue to attract the investors’ attention; thus, enhancing the positive market outlook.
Nonetheless, the stability in the segment id based on robust market fundamentals such as the resilience of buyer interest for the Dubai’s real estate for at least the remainder of 2023.
