Mumbai, July 7 -- Dubai's real estate market recorded its highest-ever monthly rental activity in June, while property sales rose sharply in both value and volume, reflecting sustained demand across the emirate's residential and commercial sectors.
According to a market analysis by fam Properties based on DXBinteract data, 40,022 rental contracts were registered during the month, the highest monthly total on record. New rental contracts increased 48.6 per cent year on year to 19,245, while renewals rose 28.5 per cent to 20,777.
Property sales reached 13,933 transactions worth AED33.2 billion in June, representing a 35.5 per cent month-on-month increase in volume and a 14.9 per cent rise in value. This took total second-quarter sales to 38,157 transactions valued at AED110.2 billion, while first-half sales reached 86,077 deals worth AED286.2 billion.
Apartment sales increased 32.3 per cent month on month to 11,605 transactions worth AED17.8 billion, while villa sales rose 46.5 per cent to 1,474 transactions valued at AED7.5 billion. Commercial property sales climbed 42.7 per cent to 478 deals, and plot sales surged 68.3 per cent to 276 transactions.
Dubai South remained the emirate's top-performing real estate market for the fourth consecutive month, recording 2,869 transactions worth AED3.3 billion, driven largely by strong off-plan sales. Primary market transactions continued to dominate, accounting for 10,398 sales worth AED21.6 billion during June.
Published by HT Digital Content Services with permission from Construction World.