Weekly Report | Dubai Real Estate Market – Residential | Week 19 – May 2023

Total residential property transactions during the week (8th – 14th May) stood at 1,498 units, witnessing a fall of nearly 7 percent from the previous week.
However, despite a reduction in the number of transactions, there has been a rise of 6% in the total value of transactions registered this week. Overall AED 3.43 billion worth of transactions were recorded this week against AED 3.23 billion in the last week.

A total of over 3,000 residential transactions were recorded in the first half of May’23. The growth in overall value was sustained by activity in the off-plan market, which posted a 20% percent growth in value terms, balancing the weakness in the secondary market, where the value of ready properties declined.