Dubai’s real estate market continues its surge in both sales volume and value over the past three years, totalling approximately AED 828.5 bn ($225.8 bn) from 291,438 transactions between 2021 and 2023, following the COVID-19 pandemic, Invest-Gate reports.

The data from Dubai Land Department paints a vivid picture of the real estate market’s upward trajectory. In 2023, sales soared to approximately AED 411.7 bn (133,124 transactions), reflecting a substantial 55% and 36% growth in value and volume, respectively, compared to 2022’s AED 266.25 bn (97,392 transactions).

This represents a staggering 173.5% and 118.5% increase compared to 2021’s AED 150.5 bn (60,922 transactions).

Total real estate transactions in Dubai over three years amounted to approximately AED 1.46 tn from 373,648 transactions, including AED 550 bn for mortgages (66,368 transactions) and AED 82.8 bn for grants (15,842 transactions).