The emirate recorded 12,000 real estate transactions last month, a 45 per cent annual increase in volume compared with 8,344 deals during the same time last year, according to a report by real estate listings website Property Finder.

Dubai Recorded 95% increase in off-plan transactions from March 2022 to last month, when 6,400 transactions were recorded, up from 3,287. 

In comparison to Dubai Marina, which represented 117% of the sales value but only 37% of sales, Dubai Creek Harbour represented 12% of the total off-plan transaction value and 10% of the total number of sales. 

Only 7% of the total transaction value was attributable to Jumeirah Village Circle, which accounted for only 18% of all sales in March. 

According to Scott Bond, UAE country manager at Property Finder, "March 2023 has recorded an interesting spike in both demand and value for the UAE's thriving property sector.". 
 

"We have observed the emergence of new consumer preferences, such as an increasing propensity for ownership and an equivocally steady growth in the rental market. ".

Meanwhile, Dubai registered a 34 per cent annual growth in the value of secondary or ready property transactions to Dh21.6 billion last month from Dh16.1 billion in the corresponding period last year, Property Finder said.

The volume of secondary or ready properties also went up by 13 per cent annually, with more than 5,700 deals recorded.

This marked the highest volume and value for the month of March in a decade, Property Finder said.