Week 03 – Dubai Real Estate Market Report – Residential | May 2024

The Weekly total transactions for the third week of May reached to 3,099 units. This was a mod-erate rise of 4% when compared to the previous week, and almost 2X higher than the same period last month. The overall transaction value reached around AED 6.85 Billion which was 7% lower than the previous week, however, in line with the weekly average of past 6 weeks and 1.8X higher than the 3rd week of April.

The weighted average size of transacted units witnessed a moderate dip of 10%, however, was 85% higher than the previous month, reaching at 1,264 sft. The median price on the other hand, was on similar levels as the previous week, and witnessed an increase of 1.8X on a monthly basis. Overall, The transactions during the week showcased a healthy trend, which is expected to continue in the coming weeks owing to changing consumer preferences.