Dubai Residential Real Estate Market Snapshot August 2023

Prices continue to soar in Dubai’s residential market in July 2023.

Key Takeaways

1. In July 2023, the total volume of transactions in Dubai’s residential market reached 10,080, registering a year-on-year growth of 53.4%.
   
   
2. The total transaction volumes in the year to date to July 2023 reached 67,818, this is the highest total ever recorded over this period.
   
   
3. In the year to July 2023, Dubai’s average residential prices increased by 18.1%, up from the 16.9% growth recorded in June 2023. Over the same period, average apartment and villa prices increased by 18.5% and 16.2%, respectively.
   
   
4. Dubai’s average residential rents grew by 22.0% in the year through July 2023, down from the 22.8% increase registered in June 2023. Over this period, average apartment rents grew by 21.9%, and average villa rents rose by 22.6%.