According to research by Property Finder, Dubai’s real estate market reached a record-breaking $65 billion from more than 88,000 transactions this year.
According to its Zeitgeist 2022 report, Dubai’s registered sales increased from 60,258 transactions in 2021 to 88,028 transactions as of November 2022. This comes to a significant 46% rise and outperforms the 2013 market peak by 38%.
Up to the end of December, the real estate market in Dubai was worth more than $65 billion (AED240 billion). The amount shows a 61% increase from 2021.
The rise of off-plan deals, which increased by 86% from 2021 to now, has been a major contributor to Dubai’s real estate expansion. By volume, off-plan transactions amounted for 44% of all transactions in 2022, up from 40% in 2021, in a market that experienced a change in these two performance areas.