Monthly Report | Dubai Real Estate Market – Residential | October 2023
Year 2023 is nearby ending, as an investor it's the perfect time to consider an end-of-year valuation for your UAE property or business asset portfolio. With over 45+ years of expertise valuing properties and business assets across the region and regulated by RICS and RERA, Reliant Surveyors valuation and advisory team specialize in providing the latest market data trends with an accurate value that reflects the dynamic of UAE real estate market and businesses, helping you to shape your strategies for informed decision-making and well prepare for tax season.
Dubai's real estate market witnessed a significant surge in the 47th week, recording a remarkable 32% increase in residential transactions, totalling 1,571. This surge had a substantial impact on the overall transaction value, soaring by 29% to AED 3.70 billion as compared to the previous week.
During the 46th week, Dubai's real estate sector experienced a notable uprise with 1,188 residential transactions, marking a 43% rise from the previous week. This increment had a substantial impact on the overall transaction value, increasing by 75% to AED 2.87 billion.
During the 45th week, Dubai's real estate sector experienced a notable downturn with 829 residential transactions, marking a 33% decline from the previous week.
In the 44th week, Dubai's real estate market saw 1,232 residential transactions. This figure marked an 11% decrease compared to the previous week.
In the 43rd week, Dubai real estate market witnessed an upsurge in residential unit transactions, with a recorded total of 1,388, marking a substantial 51% increase compared to the preceding week.
In September 2023, there were a total of approximately 6,368 residential transactions. This represented a 23% decrease compared to the previous month. The significant portion of this decline was observed in off-plan transactions, which experienced a notable 57% month-on-month decrease.
In the 41st week, Dubai recorded 1,194 residential unit transactions, marking a notable 58% rise from the prior week. The total transaction value for the week reached AED 2.16 billion, representing a 19% increase compared to the preceding week.
In the 40th week, there were a total of 757 transactions in residential units in Dubai. This represents a decrease of 33% compared to the previous week. The total value of transactions for this week amounted to AED 1.81 billion, which is a decline of 20% compared to the previous week's figures.