Data: deals and sales value of Dubai off-plan property market have doubled in January 2023

The Tranio team analysed the data on property transactions of January’23 released by Dubai Land Department. The data showed that the real estate market started setting new records this year.

According to Dubai’s real estate registry, 5,775 transactions with off-plan residential properties were recorded in the Emirate in January 2023. The number of transactions in the off-plan housing segment has doubled, compared to January 2022.

The sales value of Dubai’s off-plan housing market in January is estimated at nearly 4 billion US dollars. The volume increased 2.8 times compared to January 2022.

The average price of off-plan housing in Dubai has reached 5,451 US dollars per square metre in January 2023. A year ago, the average price of off-plan residential properties was 4,790 US dollars per square metre. As shown in the graph, the price of off-plan projects has increased by 56% over the past two years.