Apartment Rentals In Dubai Marina, Business Bay, And JVC Were Among The Most Popular Searches.
According to Mo’asher, Dubai‘s official sales price and rental performance index, the real estate market in Dubai had 8,897 sales transactions worth Dh22.75 billion. The greatest number of sales transactions for the month of June in the previous nine years. Nearly 40% of all sales transactions were for off-the-plan homes. While around 60% of all registered sales were for secondary properties. In comparison to May 2022, the period saw a 34 percent rise in volume and a 24.8 percent increase in value.
On the off-plan market, 3,554 houses were traded for a total of Dh7.06 billion. While 5,343 properties worth a combined Dh15.69 billion were traded on the secondary market. The proportion of off-plan transactions increased by 28.96%. In addition, the number of secondary property transactions increased by 38% in June compared to the same time previous month. With 22,504 transactions of Dh59.15 billion in the second quarter of 2022. In the previous ten years, this quarter’s amount of sales transactions was the highest. When comparing statistics from one quarter to the next, Q2 saw increases of 6.8% in value and 9.6% in volume.
Jebel Ali First (1423 contracts), Al Warsan First (1311), Al Barsha South Fourth (1250), Marsa Dubai (1202), and Business Bay were the top regions with the most rental transactions in June 2022. (1148). These were the most popular locations for apartment rentals in June, according to statistics from Property Finder.
The top locations for villa/townhouse searches were Dubai Hills Estate, Jumeirah, Al Barsha, Akoya, and The Springs. While top locations for condominium searches were Dubai Marina, Downtown Dubai, Business Bay, Jumeirah Village Circle, and Jumeirah Lake Towers.
The entire monthly sales index for June was 1.323, with an index price of almost Dh1.29 million. The monthly index for villas and townhouses also registered 1.347 and an index price of about Dh2.2 million. The monthly apartment index was 1.393, with an index value of Dh1.2 million.
Additionally, in June 2022, the total monthly rental index registered a 0.971 and an index price of Dh52,498. Apartments’ monthly index showed a reading of 0.974 and an index cost of Dh48,226. The monthly index for townhomes and villas showed a reading of 0.870 and an index cost of Dh133,330.
The aggregate quarterly sales index for Q2 2022 was 1.328, with an index price of around Dh1.27 million. The quarterly index for flats was 1.352, with an index price of Dh1.15 million, while the quarterly index for villas/townhouses was 1.264, with an index price of Dh2.11 million.
Additionally, the flats quarterly index recorded 0.979 and an index price of Dh47,764. The quarterly index for villas and townhouses was 0.858, with an index price of Dh133,085. In addition, the total quarterly index for rental in Q2-2022 recorded 0.968 and an index price of Dh52133.