Weekly Report | Dubai Real Estate Market – Residential | Week 43 – October 2023

In the 43rd week, Dubai real estate market witnessed an upsurge in residential unit transactions, with a recorded total of 1,388, marking a substantial 51% increase compared to the preceding week. This remarkable spike in activity resulted in a significant 34% rise in the total transaction value, reaching a substantial AED 2.90 billion.

The unexpected surge can be primarily attributed to a notable increase in apartment transactions as opposed to the prior week.  Notably, the median price for apartments during this period stood at 1,305 AED per square foot, and the average apartment size across all transactions measured 1,116 square feet.