Dubai Residential Real Estate Market Snapshot December 2023

Dubai’s residential transactions reach new record highs in November 2023

December 12, 2023 6 Minute Read


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Key Takeaways:

  1. In November 2023, the total number of residential transactions in Dubai stood at 9,034, down 13.2% compared to the previous year.
  2. In the year to date to November 2023, the total volume of transactions reached 112,356, this is the highest level on record to date.
  3. In the year to November 2023, average prices grew by 18.9%, down from 19.1% a month earlier. Over this period, average apartment prices increased by 18.3% and average villa prices by 22.2%.
  4. In the year to November 2023, average residential rents in Dubai grew by 19.2%, down from 19.7% a month earlier. Over the same period, average apartment and villa rents increased by 19.6% and 16.6%, respectively.