Weekly Reports 51 – Dubai Real Estate Marke – Residential | December 2023

In the 51st week, Dubai’s real estate market observed a marginal downturn, witnessing a 10% decrease in residential transactions, totalling 1,102. This decline exerted an impact on the overall transaction value, which experienced an 18% reduction compared to the previous week, amounting to AED 2.69 billion.

Notably, apartment prices in this period reached a median of 1,372 AED per square foot, thereby shedding light on the prevailing market dynamics. Further insights were gleaned from the data, revealing that the average size of apartments involved in these transactions was 995 square feet, providing valuable information about buyer preferences. The week’s real estate activities collectively underscored an overall stagnancy in Dubai’s real estate sector during the week.