Back with a bang: Dubai property market hits AED10bn in the first week of 2023

Yes, you read that right. During the first week of January, over 2,700 property sale transactions took place across Dubai, totalling AED10 billion ($2.7bn).

Sales transactions stood out in three locations across the city, starting with Al Hebiah Fifth with 133 transitions, Jebal Ali First which saw 49 and lastly, Al Merkadh with 12 transactions.

The highest mortgage transaction to take place was in the cities iconic Burj Khalifa - worth a whopping AED300 million!

Thought that was all?

If that wasn’t impressive enough, nearly 270 plots and 1,903 apartments and villas were sold with a combined total value of AED7.2 billion and in just one day alone the market saw 505 sales transactions!

That’s right, valuing up to AED2.17 billion, 460 villas and apartments were sold and 98 mortgage deals complete.

Interested in learning more about the Dubai Real Estate Market?

January has without a doubt been a very exciting month for the property market and we are most definitely looking forward to the months ahead!

Keep your eyes peeled for more market insights as the Allsopp & Allsopp end of year report comes out tomorrow.

The report is intended for buyers, sellers, landlords, and tenants, and offers clear and easy-to-understand market analysis to assist you in navigating the Dubai Real Estate Market in 2023.

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