Weekly Report | Dubai Real Estate Market – Residential | Week 34 – August 2023

During the 34th week, the cumulative count of transactions reached 1,574, signifying a notable 29% contraction when juxtaposed with the previous week’s figures. Notably, the week’s monetary value stood at AED 3.39 Billion, marking a substantial 31% decline relative to the preceding week. It is worth highlighting that the observed downturn in transactional activity encompassed both off-plan and ready property segments, exhibiting declines of 37% and 11%, respectively.

Week 33 was exceptionally promising compared to the other weeks within the same month. However, owing to the substantial growth and impressive metrics recorded in the preceding week, the current week exhibits a discernible decline across various parameters in comparison.