Weekly Reports 52 – Dubai Real Estate Marke – Residential | December 2023

During the 52nd week, Dubai’s real estate market faced a downturn, witnessing a 33% decline in residential transactions as compared to previous weeks, totalling 741. This led to a significant 50% reduction in the overall transaction value, amounting to AED 1.34 billion. 

Notably, apartment prices reached a median of 1,199 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 1,122 square feet, providing valuable information about buyer preferences. The week’s real estate activities collectively indicated an overall stagnancy in Dubai’s real estate sector.