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January 2023 | Dubai Real Estate Market Report – fam Properties
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Monday, 06 Febuary, 2023
- January 2023 marked the best-performing month of January on record for the Dubai real estate market.
- The number of apartment sales compared to January 2022 nearly doubled,indicating continued investor interest in apartments.
- For more details, visit fäm Properties.
Monthly Market Report January 2023 - Property Monitor
The Dubai real estate market kicked off the year with continued, albeit moderated, growth in property prices by recording a 0.62% increase in January. dubai property values currently stand at AED 1,096 per sq ft according to the Property Monitor Dynamic Price Index (DPI), back to a level not seen since December 2013 during the last market upswing and in August 2017 on the downcycle.For more details, visit Property Monitor.
Dubai real estate market records AED 35.2 billion in transactions in January 2023 – Zawya
Dubai, UAE – The Dubai real estate sector continues to demonstrate resilience and sustained momentum, with total transactions reaching AED 35.2 billion across 13,043 sales in January 2023. This represents a 22.9% increase in value and a 23.1% increase in volume compared to the same period last year.
For more details, visit Zawya.
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Thus Far in 2023: A Deep Dive into Dubai’s Thriving Real Estate Market
The opening months of 2023 have brought exciting developments for the Dubai real estate market. A surge in property prices, a record number of transactions, and sustained investor interest are painting a promising picture for the year ahead.Let’s delve into what these figures meen and how they impact the broader economic landscape of Dubai.
Insights from a Market Expert: Discussing Dubai’s Real Estate Boom
Senior Editor: Welcome to our interview series. Today, we have with us alexandra Har Publication Manager, an expert on Dubai’s real estate market. Alexandra,thank you for joining us.
Alexandra Har: Thank you for having me.
Market Performance in January 2023
Senior Editor: January 2023 saw remarkable growth in the Dubai real estate market. Can you shed some light on this?
Alexandra Har: Absolutely. January marked one of the best-performing months in terms of property sales and prices in recent years. Data from various sources indicates a 0.62% increase in property prices, bringing the value to AED 1,096 per square foot. This isn’t just an anomaly—it’s part of a trend of continuing growth that has been sustained over the past months.
Senior Editor: Why do you think the market has shown such resilience and robust performance?
Alexandra Har: Several factors contribute to this. Firstly, the continuous investor interest in apartments is uncanny. Comparatively, the number of apartment sales nearly doubled from January 2022, signifying a robust appetite from investors.
Transactions and growth indicators
Senior Editor: Looking at the transactions volume too,we see an impressive figure—35.2 billion AED in January alone. What does this mean for the sector?
Alexandra Har: That’s astounding growth indeed. The total transactions in January 2023 translates to a 22.9% increase in value and a 23.1% increase in volume compared to last year. This surge in transactions clearly indicates a thriving market, with both buyers and investors showing strong confidence and commitment.
Senior Editor: What are the primary drivers behind this surge in real estate transactions?
Alexandra Har: Ther are multiple drivers. Firstly, Dubai’s strategic focus on luxury properties and high-end apartments has garnered critically important international attention. Secondly, tax-free income, robust economic conditions, and a growing tourism sector have created a favorable environment for real estate investments.
The price Index and Market confidence
Senior Editor: the Property Monitor Dynamic Price Index (DPI) also reported that property values are at thier peak since 2013. How do you interpret these findings?
Alexandra har: The DPI figures are quite telling. Values standing at AED 1,096 per square foot show that the market is on a solid upward trajectory. These levels haven’t been seen since the market upswing in 2013 and the downcycle peak in 2017. For buyers and investors,this kind of stability and growth is a strong indicator of future market health.
Senior Editor: With these positive indicators, what advice would you give to potential investors?
Alexandra Har: Investors should look at this market carefully. While prices are steadily climbing, there’s a lot of room for growth. Considerations like location, the quality of the property, and the developer’s track record are crucial. Utilizing data from sources like Property Monitor and expert insights will help make informed decisions.
Concluding Thoughts
senior Editor: Alexandra, it has been extremely insightful hearing your perspective. what would you say is the key takeaway for anyone looking at Dubai’s real estate market right now?
Alexandra Har: The key takeaway is confidence. Dubai’s real estate market isn’t just performing well—it’s showing sustained growth and resilience. Investors and buyers should trust the current trajectory while keeping a keen eye on market trends. The opportunities in this market are as vast as they are promising.
Senior Editor: Thank you, Alexandra, for sharing your expertise today.
Alexandra Har: Thank you for having me.
With such optimistic figures and insights from experts like Alexandra, it is clear that 2023 is shaping up to be a pivotal year for Dubai’s real estate sector.
