Data: August results in Dubai's new-build property market — 41% more transactions
In August 2023, Tranio analysts prepared a report on off-plan property transactions based on statistics by the Dubai Land Department. The number of deals continues to grow.
In August, buyers completed 7,426 property transactions during the construction phase (off-plan property), which is 41% more than the same period in 2022 (5,269 transactions). Compared to the previous month, the number of deals increased by 15%.
The total value of off-plan properties sold in August was estimated at 5.1 billion US dollars. The figure is 68% more than in August 2022. This amount is 17% less than in July 2023.
The average price per square metre in August reached 5,448 dollars. In August last year, the average price for square metre amounted to 4,720 dollars which is 15% less.
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