Weekly Report | Dubai Real Estate Market – Residential | Week 42 – October 2023
In the 42nd week, Dubai witnessed a noteworthy decline in residential unit transactions, with 921 recorded, marking a substantial 23% drop from the prior week. Surprisingly, despite this decrease in transaction volume, the total transaction value for the week managed to rise by a marginal 1% when compared to the preceding week, reaching AED 2.17 billion.
This unexpected increase can be attributed to the shift in the composition of transactions, with a decrease in apartment sales and a concurrent increase in villa transactions. The median apartment price was 1,240 AED per square foot, with apartments typically measuring 1,116 square feet.