- Dubai’s real estate sector recorded AED 13.7 billion in transactions in one week
Dubai, UAE: Unique Properties, one of Dubai’s leading real estate agencies, cites another strong week in the Emirates property sector for the week ending on July 7th, 2023, with the city witnessing AED 13.7 billion worth of registered transactions. During that span, 323 plots sold for AED 3.33 billion, while 2,237 apartments and villas were purchased for a total of AED5.37 billion, and the sum of the amount of mortgaged properties for the week recorded AED3.02 billion.
The increasing sales of luxury units have been a major reason for the continuous growth of the sector, which has also been aligned with the increasing influx of millionaires entering the city, especially over the last year. According to recent data by global property consultancy Knight Frank, 176 homes worth AED 36.73 million or more were recorded during the first half of 2023, leading to an annual rate price increase in all apartments and villas across the city to 15% and 46%, respectively, as of the end of June 2023.
Dubai also witnessed 92 homes worth at least AED 36.73 million each being sold during the first quarter of the year, the highest number registered across the globe ahead of counties such as Hong Kong and New York which recorded 67 and 58 respectively. Palm Jumeirah, Emirates Hills, and Jumeirah Bay Island were the key contributing areas to this strong performance, especially during Q2 where they accounted for 63% of total sales while other neighborhoods such as Jumeirah Golf Estates, Al Barari, Tilal Al Ghaf, and Jumeirah Islands are likely to soon qualify as prime areas for ultra-luxury investments.
Arash Jalili, Founder, and Chief Executive Officer of Unique Properties, commented: “Dubai has continued to be an increasingly trending destination to live in, especially for the world’s wealthiest who are entering the market with the aim of looking for greener pastures wherever they are in the world. Strong investment opportunities coinciding with a profitable career and a comfortable lifestyle are among the key reasons driving this strong demand and increase in total sales for the city by allowing new expats and residents to be content with their investment despite the increase in prices.”
Through its team of multilingual and experienced consultants, Unique Properties has been contributing to the growth of the sector by offering a range of services through both its off-plan projects, as well as a vast number of properties for sale and leasing. In 2021 alone, Unique Properties accounted for 2% of Dubai's total “off-plan” sales volume and around 1% of its overall real estate economy, which recorded transactions worth AED 300 billion.
About Unique Properties:
Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. As a multi-award-winning real estate company, it is one of the most reputable in the region. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2021, Unique Properties contributed 2% to Dubai's total “off-plan” sales volume and around 1% to its overall real estate economy, which recorded transactions worth $ 82 billion (AED 300 billion). Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients. Learn more about Unique Properties at https://www.uniqueproperties.ae/en/
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