Data: record figures for deals over the last two years of Dubai off-plan property market in March 2023

The Tranio team analysed the data on property transactions in March of 2023 released by Dubai Land Department.

According to Dubai’s real estate registry, 6,957 transactions with off-plan residential properties were recorded in the Emirate in March 2023. This figure of almost 7,000 transactions is a record for the last two years. In February, less than 36% of deals were recorded — it amounted to 5,084. The number of transactions in the off-plan housing segment has nearly doubled, compared to 3,339 deals registered in March 2022.

The value of Dubai’s off-plan housing market in the past month is estimated at 3.9 billion US dollars, which is a 2 times increase year-on-year. Since October 2022, the value of properties sold in a month has been between 3.5 and 3.9 billion dollars.

The average price of off-plan housing in Dubai has reached 4,818 US dollars per square metre in March 2023. A year ago, the average price of off-plan residential properties was 5,182 US dollars per square metre, that is 7.5% more than the current figure.