Weekly Reports 01 – Dubai Real Estate Marke – Residential | January 2023

During the 1st week (29th December 2023 – 04th January) of January 2024, Dubai’s real estate market faced a downturn, witnessing a 13% decline in residential transactions compared to the previous week 52 of December 2023  totalling 646. However, this led to a significant 29% rise in the overall transaction value, amounting to AED 1.73 billion.

Notably, apartment prices reached a median of 1,411 AED per square foot during this period, shedding light on the prevailing market dynamics. Additional insights from the data revealed that the average size of apartments involved in these transactions was 1,090 square feet, providing valuable information about buyer preferences. The week’s real estate activities collectively indicated a good start in Dubai’s real estate sector.