July 2022 records the highest sales transactions in the last decade
According to Mo’asher, Dubai’s Official Selling Price and Rental Performance Index launched by the Dubai Land Department (DLD) in cooperation with Property Finder, the Dubai property market has a total of 7,092 registered sales transactions. in July 2022. Data marks the highest performance. over the past decade and demonstrates a significant increase in overall sales deal volume performance of 63.56% and 88.41 in value year over year.
The base year for Mo’asher is 2012, and the base month for the monthly index is January 2012, with the base quarter for the quarterly index being the first quarter of 2012.
In July 2022, Mo’asher recorded a monthly sales index of 1.338 and a price index of AED 1,303,493. The monthly apartment index recorded 1,414 and an index price of AED 1,218,379. Additionally, the monthly Villa/Townhouse Index recorded 1,349 and an index price of AED 2,162,530.
Additionally, Mo’asher recorded a Monthly Rental Index of 0.978 and a Price Index of AED 52,248. The monthly apartments index recorded 0.981 and an index price of AED 48,688 while the monthly villas/townhouses index recorded 0.880 and an index price of AED 135,456.
Mo’asher’s data for July shows positive sentiment on the real estate sector with steady growth in total sales transactions. The July 2022 sell trades surpassed the July 2013 trade peak which recorded 5,024, representing a 41.16% increase from the market peak on a monthly basis for July. The secondary market continues to capture the real estate market with the largest transactions with 59% in volume and 70.60% in value.
Comparing the overall year-on-year performance with the same period last year, the secondary market recorded the highest trading volume in July over the past decade, which increased by 61.17 % in terms of volume and 91.47% in terms of value.
Off-plan sales transactions reached the highest transaction volume in July 2022 and recorded a significant increase of 67.13% in terms of volume and 81.43% in terms of value, compared to July 2021.
On the other hand, the total rental contracts in July 2022 reached 42,698 registered leases of which 56.04% were new contracts while 43.96% were renewed. Annual contracts accounted for 85.94% of total contracts while 14.06% were non-annual. In addition, leases registered for residential purposes acquired 72.98% of the total contracts, while 25.66% were registered for commercial purposes.
July rental contracts remained strong and saw an increase of 4.33%, supported by renewed contracts which increased by 24.65% compared to June 2022. Annual contracts continue to dominate the rental market and have experienced an increase of 7.14% compared to June 2022 and rental leases. for residential increased by 5.67% compared to June 2022.
Top Zones by Ejari Listings
The top areas according to Ejari Registrations for the most rental transactions in July 2022 were Jabal Ali First (1,557 contracts), Al Warsan First (1,534), Business Bay (1,209), Al Barsha South Fourth (1,173), Al Qusais First (1,145), Marsa Dubai (1,133), Nadd Hessa (1,111), Al Thanyah Fifth (961), Al Barsha First (912) and Mirdif (867).
Top Domains on request
According to proprietary data from Property Finder, the top areas sought for sales in July were Dubai Marina, Downtown Dubai, Business Bay, Palm Jumeirah, Jumeirah Village Circle and Jumeirah Lake Towers. The most sought after areas for villa/townhouse sales in July were Dubai Hills Estate, Palm Jumeirah, Arabian Ranches, DAMAC Hills (Akoya by DAMAC), Mohamed bin Rashid City and Dubai Land.
To download Mo’asher, please visit the following links: