Dubai’s residential real estate market had a very solid start to the month of June, building on the momentum from the last few weeks. High activity levels were reported in the week gone by across all categories.
Residential volume across Dubai increased marginally by 5% during the last week of May 2023 as compared to last week, which recorded a total of 1635 transactions over 1554 transactions in the previous week.
Residential demand remained resilient in the third week of May 2023 with apartments contributing heavily to the transaction volumes across key markets, as has been the case over the past few quarters. Overall Volume rose by 7% during the week, with the total number of transactions standing at 1,554 as against 1,448 transactions in the previous week.
Despite a reduction in the number of transactions, there has been a rise of 6% in the total value of transactions registered this week. Overall AED 3.43 billion worth of transactions were recorded this week against AED 3.23 billion in the last week.
During the first week of May 2023, Weekly transaction volume continues with its rising trend, registering a growth of 4% over the previous week. The total number of transactions recorded this week (1 – 7th May 2023) was 1,563 as against 1,503 sales transactions in the previous week.
Dubai’s weekly transaction volume and value (off-plan, ready and overall) recovered significantly from the previous week’s lows. Overall Volume rose by 71% during the week. The total number of transactions recorded this week (24th – 30th Apr 2023) was 1,503 as against only 881 sales transactions in the previous week.
Weekly Residential Transactions (both volume and Value) continued to decline further by 41% and 51% respectively from the previous week to record total transactions of 881 units only. Total transactions recorded in the previous week were 1,482 units.
Residential volume across Dubai reduced by 3% compared to last week, a consecutive decline for the third week. The total number of transactions recorded this week (10 – 16th April 2023) were 1,482 as against 1,520 transactions in the previous week.
Weekly Residential Transactions (both volume and Value) in Dubai continued to decline further in this week (3-9th Apr 2023). Residential Volume, on one hand, declined by 7% from the previous week to record total transactions of 1,520 units.
Residential activity across Dubai remained subdued for the week. Both the transaction volume and value of the sales deals continued to move southwards for the second consecutive week. Overall transaction volume reduced by 8% from the previous week to record a total volume of 1,629 units.
