Weekly Report | Dubai Real Estate Market – Residential | Week 45 – November 2023

During the 45th week, Dubai’s real estate sector experienced a notable downturn with 829 residential transactions, marking a 33% decline from the previous week. This decrease had a substantial impact on the overall transaction value, plummeting by 45% to AED 1.64 billion. Notably, apartment prices, reflecting market trends, were at a median of 1,271 AED per square foot. The average size of apartments involved in transactions stood at 1,208 square feet, providing insights into buyer or renter preferences. The market’s fluctuations underscored the dynamic nature of Dubai’s real estate landscape, with both transaction volume and values showing significant variations.