The latest data from Mo’asher, Dubai’s Official Residential Real Estate Performance Index, recorded for May this year, showed sales transactions worth Dhs18.4bn, the highest volume of transactions for the same month in the past decade.
Overall, sales transactions continued to surpass 2021’s average monthly transactions; the overall sales price index also showed a healthy growth since June 2020.
The base year for Mo’asher – launched by Dubai Land Department (DLD) in cooperation with Property Finder – is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being Q1 2012.
Here are the highlights of the sales and rental index from March to May:
Total rental contracts in May showed 35,327 registered leases, of which 59.6 per cent included new contracts whereas 40.4 per cent were renewed. Annual contracts acquired 80.9 per cent of the total contracts while 19.1 per cent were non-annual.
The registered leases for residential purposes acquired around 73.8 per cent of the total contracts, while 25.3 per cent were registered for commercial purposes.
Most sought-after residential locations in Dubai
Here’s a ready reckoner of the most popular areas in Dubai residential real estate market, with details about the average sales and rental rates. Favourites include Dubai Marina, Downtown Dubai, Palm Jumeirah, Dubai Hills Estate, Damac Hills and Arabian Ranches.
Source: Property Finder Demand Data (March 2022 – May 2022)
Taking the lead
We look at the areas in Dubai that recorded the largest number of residential sales transactions in the last three months (March, April and May). The list included Business Bay, Downtown Dubai, Arabian Ranches, Dubai South, Dubai Marina, Villanova, The Valley, Rukan and Damac Hills (Akoya) among others.
Source: DLD Transactions Registry