Data: Dubai’s off-plan property deals still on the rise in June 2023

The Tranio team has analysed new data released by the Dubai Land Department (DLD). In June 2023 fewer off-plan property transactions were recorded compared to May. However, comparing the periods on a year-on-year basis, buyers have completed more deals this year with a higher total value of properties.

In June, buyers completed 5,525 transactions for off-plan, which is 26% more than the same period in 2022 (4,362 transactions). The number of deals has decreased 9% for a month.

The total value of off-plan properties sold in June reached 3.9 billion US dollars, up 51% year-on-year. This figure is 11% less than compared to May 2023.

The average price per square metre amounted to 5,496 US dollars. In June last year, a square metre was sold for an average of 5,164 dollars, which is 6% less. Over the month, the price per square metre in new buildings in Dubai rose by 5%.