Dubai’s real estate market witnessed records being broken at all levels. In 2022, the market recorded 97,465 registered transactions worth AED 266,347 billion, which is remarkably higher than the total transactions recorded in 2021 by 61.88 percent in terms of volume and 78.10 percent in terms of value, to be the highest market record historically. 54.91 percent of all transactions were for secondary/existing properties,
and 45.09 percent were for off-plan properties. When we look at the volume of sales transactions, the off-plan market transacted 43,951 properties worth a total of AED 94.948 billion to witness the highest record for off-plan transactions ever recorded in terms of volume and value of the sales transactions. the off-plan transactions grew by 83.67 percent compared to 2021 while the value of the transactions increased by 112.98 percent. Likewise, the existing market witnessed a remarkable performance on an annual basis. The total registered sales for existing properties reached 53,514 transactions worth AED 171.399 billion, recording a significant increase of 47.50 percent in terms of the number of transactions while the value of the transactions grew by 63.29 percent compared to 2021.