Weekly Report | Dubai Real Estate Market – Residential | Week 46 – November 2023
During the 46th week, Dubai’s real estate sector experienced a notable uprise with 1,188 residential transactions, marking a 43% rise from the previous week.
This increment had a substantial impact on the overall transaction value, increasing by 75% to AED 2.87 billion. Notably, apartment prices, reflecting market trends, were at a median of 1,322 AED per square foot. The average size of apartments involved in transactions stood at 1,307 square feet, providing insights into buyer preferences. The market’s fluctuations underscored the dynamic nature of Dubai’s real estate landscape, with both transaction volume and values showing significant variations.
During the week prior, Dubai’s real estate sector saw a total of 1,188 transactions, with 400 involving off-plan properties and 788 involving completed properties. Remarkably, completed property sales reached a combined value of AED 1.62 billion, while off-plan property sales totalled AED 1.25 billion. The dynamics unveiled a nuanced situation as off-plan transactions surged by 63% in quantity and experienced a significant doubling in overall value. In contrast, completed property transactions witnessed a 35% increase in number and a 75% rise in value.
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