The real estate sector in Dubai achieved its highest monthly performance ever during April after hitting AED26.3bn in sales, recording a growth of 44.5%, compared to about AED 18.2 bn in sales in April 2022, Invest-Gate reports.

The data shows that 7,980 transactions are recorded in April 2023, an increase of 14.3% in terms of the number of transactions, compared to April of last year, which witnessed the registration of 6,983 transactions.

And by comparing the overall performance for the first four months of 2023 with the same period of 2022, it is clear, according to the data on an annual basis, that there is an outstanding performance of the total sales value, with a growth rate of 57.2%, to reach AED 115.15 bn, compared to AED 73.25 bn.

The data shows that 38,927 transactions are recorded during the period from January to the end of April 2023, compared to 27,507 transactions in the same period last year, with a growth of 41.5%.

The data indicates that Dubai real estate sales during the first third of this year represent about 44% of the total value of sales recorded in 2022, amounting to AED 265.5 bn.

In addition, the real estate expert Walid Al Zarouni, founder and Chairman of W Capital Real Estate Brokerage, expects that the summer season of 2023 would be exceptional for the real estate sector in Dubai, compared to the same period in previous years, which witnessed some slowdown in demand.

Al Zarouni says that the sector will continue to record strong real estate sales during the remainder of this year, supported by the continued momentum within the market and the strong incentives provided by Dubai’s economy.