Weekly Report | Dubai Real Estate Market – Residential | Week 47 – November 2023

Dubai’s real estate market witnessed a significant surge in the 47th week, recording a remarkable 32% increase in residential transactions, totalling 1,571. This surge had a substantial impact on the overall transaction value, soaring by 29% to AED 3.70 billion. Noteworthy trends were observed in apartment prices, reaching a median of 1,197 AED per square foot, reflecting market dynamics. The average size of apartments involved in these transactions was 1,362 square feet, shedding light on buyer preferences. The week showcased robust market activity, signalling positive momentum and resilience in Dubai’s real estate sector.

Dubai Real Estate Market- Residential

In the current week, the real estate landscape witnessed 1,064 transactions in the apartment sector and 507 in the villa market, indicating a noteworthy departure from the previous week. Apartment transactions saw a modest 5% increase in volume without any corresponding change in total value. Conversely, villa transactions experienced a threefold surge in volume and a substantial 84% rise in value. These fluctuations highlight the dynamic nature of the real estate market, showcasing distinct shifts in both transaction volume and value within the apartment and villa segments. These changes reflect evolving trends and preferences, providing insight into the dynamic dynamics influencing the real estate market during the present week.

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