ZāZEN Properties, a homegrown sustainable property developer in the UAE, cites that Dubai’s real estate market is fairly valued despite an ongoing surge in demand for both renting and buying. Prices in the emirate have been soaring since 2021 with the cosmopolitan city recording annualized real price growth of 14.6% and annualized rental price growth of 20.3% from mid-2022 to mid-2023; rates that are among the highest worldwide[1].
Dubai’s real estate sector has maintained its momentum with Q3 results reinforcing this notion. The Dubai Land Department (DLD) reported 31,216 transactions from July to October, comprising 23,042 units, 3,158 buildings, and 5,016 plots. These figures convincingly exceed the 25,503 sales that were registered during the same period in 2022 to reflect 22% Year-over-Year (YoY) growth.
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