Data: 65% more transactions year-on-year for Dubai's off-plan property market in July 2023

The Tranio team has prepared a new report with data from the Dubai Department of Land (DLD).

In July 2023, buyers completed 5,850 off-plan property deals, which is 65% more than in the same period in 2022 (3,542 transactions). Compared to the previous month, the number of transactions increased by 5.8%.

The total value of off-plan properties sold in July was estimated at 4.1 billion US dollars, up 92% year-on-year. This is 4.5% more than in June this year.

The average price per square metre amounted to 5,377 US dollars. Last July, the average price reached 5,196 dollars. It is 3.4% less. Contrary to the seasonality of the market, the price per square metre is almost back to the peak levels of the last two years of 5,542 dollars.

Author: Maksim Skorykh