by Naya Properties 
The upward trend in Dubai's real estate market continues, with this quarter seeing a record number of transactions. Dubai thus remains a favorable destination for real estate investors in 2022.
With robust growth observed across all performance indicators, the market continues to prosper, thanks to the exponential increase in demand. This increase is notably due to a sharp rise in sales of properties off-plan, which reached 11,774 (+30.9% vs. Q2 2022).
Dubai real estate market surpasses 2013 record in September
Due to rising demand, real estate transactions reached their highest level since 2013. Indeed, the market recorded 8,649 in transaction volume and AED 24.42 billion in value. This corresponds to an increase of almost 50% compared to September 2021.
According to Mr. Scott Bond of Property Finder, this increase comes as no surprise, given the UAE's proactive strategies. He added that "the influx of high net worth individuals and millennials, will consolidate the prominence of Dubai's real estate market". In addition, it demonstrates renewed investor confidence in Dubai's growing real estate market.
Record transactions from January to September 2022
In the first nine months of 2022, Dubai's real estate market recorded AED 125.2 billion in transactions. This total sales value exceeds that achieved in 2013 (AED 119 billion). Off-plan sales also reached a record level, recording 29,339 transactions (24,077 in 2021).
In addition, according to the CORE consultancy, sales prices continued to rise in all neighborhoods. The market recorded a 16% increase for villas and 8% for apartments. However, this rise in prices (2% quarter-on-quarter) has slowed relatively compared with Q1 2022 and Q2 2022 (4%).
Q3 2022: the best-performing quarter in the history of the Dubai real estate market.
Dubai's real estate market recorded 25,456 transactions worth Dh69.725 billion. This is the highest volume and value of sales transactions in 12 years. Compared with Q3 2021, this represents an increase of 61.69% (volume) and 65.64% (value). Q3 2022 is therefore the best-performing quarter in the history of the Dubai real estate market.
On the other hand, when comparing the secondary or off-plan market, Dubai recorded an increase of 52.44% in volume and 56.94% in value compared to 2021. In addition, off-plan transactions grew steadily compared to Q3 2021 in terms of both volume (74.03%) and value (84.58%).
