Weekly Report | Dubai Real Estate Market – Residential | Week 32 – August 2023

During the current week, transactions of residential units in Dubai witnessed a notable decline of 25% compared to the preceding week. Last week, a total of 2002 transactions took place, whereas this week saw 1510 transactions.

The overall value of residential properties also experienced a reduction of 26% in comparison to the previous week. Notably, off-plan transactions saw an 8% decrease, whereas ready transactions exhibited a significant decrease of 44%. In terms of monetary value, this week’s transactions summed up to AED 3.60 billion, marking a contrast to the AED 4.87 billion recorded in the previous week.

Among these transactions, the value of off-plan transactions bore the most significant impact during the week.