Dubai real estate sales soar in the midst of rising prices.

In spite of the escalating costs of both villas and apartments across Dubai, the city's real estate sector continues to register robust sales activity.

According to Unique Properties, flat prices in Dubai have surged by 21% since the start of the year, while villa prices have seen an even more substantial increase of 51%.

The Dubai Land Department (DLD) reported over 3,200 transactions amounting to AED 24.7 billion in just the past week.

Recent data from Savills reveals that approximately 60,000 units changed hands in the first half of 2023, marking a remarkable 44% surge in real estate transactions.

Dubai's property market stands out amidst global economic challenges, with the city poised to achieve the anticipated 15% growth projected for 2019.

The escalating rental costs have prompted many residents to downsize, with some experiencing price hikes exceeding 50%.

Arash Jalili, the Founder and Chief Executive Officer of Unique Properties, expressed his views, stating, "Dubai consistently reaffirms its status as a secure investment destination, with a continuous stream of forward-looking initiatives and unwavering stability during turbulent times. This resilience has been the driving force behind the real estate market's post-COVID resurgence, and all indications suggest that this momentum will persist. Despite rising prices, the demand for both buying and renting properties remains high and is expected to remain so in the foreseeable future. While other major markets may be facing challenges, Dubai, and indeed the entire UAE, are positioning themselves as the destinations of choice for years to come."