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Dubai Residential Real Estate Market Snapshot August 2023
August 10, 2023 5 Minute Read
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Prices continue to soar in Dubai’s residential market in July 2023.
Key Takeaways
- 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%.
- 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.
- 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.
- 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%.
