Dubai Market Update Q3 2022 (image)

Dubai Market Update Q3 2022

Dubai’s real estate market continues to see robust growth across performance indicators for all asset classes.

Dubai Office Market

  • Demand for quality office spaces in centrally located areas is outstripping supply
  • Citywide office rents up by 23% year-on-year, with all office districts surpassing pre-pandemic rental levels
  • The sharpest year-on-year rise in office rents were seen in Business Bay (40%) and JLT (36%) office districts.
  • City-wide office occupancy at 83%, with an absorption of over 5.4 million sq. ft witnessed in the last 12 months

Dubai Residential Market

  • Off-plan project launches up by 61% year-on-year
  • Highest ever number and value of secondary market transactions recorded in Q3 2022
  • City-wide villa sales price up by 16% and apartments by 8% year-on-year
  • Sharper rental rises witnessed with city-wide villa rents up by 28% and apartments by 26% year-on-year

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