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The real estate industry in Dubai continues to rise

In the eight years since purchasers were continuing to grab villas and houses in June, the newest data has shown their most busy month on Dubai's property market.

Property Finder announced in a study Tuesday that in June there were a total of six,388 sales totaling DHR 14.79 billion ($4 billion), the most since December 2013.

The monthly transactions rose by 44% in volume and by 33.2% in value compared with May.

The overall annual transactions for the second quarter were 15,638, with a joint value of DHR 36,86 billion, with a total annual figure of DHR61,97 billion, to 27,373 transactions.

Since Covid-19 regulations were lifted last year as buyers benefit from low record pricing and interest rates and favorable credit-to-value ratios, demand for houses in the United Arab Emirates is booming.

However, the secondary market continues to focus on business purchasing, accounting for 61.5 percent of the property business alone in June.

38.5 percent of the trades accounted for off-plan property.

The best choice for apartment buyers was Meydan (15%), followed by Jumeirah Lakes Towers (9.3%), Dubai Marina (8%), Business Bay (6.8 percent), City of Dubai (6.6%), Mohammed Bin Rashid City (6.3%), Jumeirah Village Circle (5.4%), Palm Jumeirah (3.9%), Jumeirah Beach (3%) and Dubai Harbor (three percent).

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