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Dubai Residential Real Estate Market Snapshot November 2023

November 8, 2023 6 Minute Read

Residential transactions in Dubai surpass 2022 record.

Key Takeaways:

In October 2023, the number of transactions in Dubai’s residential market totalled 6,407, marking a decline of 23.6% from the year prior.
In the year to date to October 2023, a total of 93,590 residential transactions were recorded, surpassing the 2022 full year total of 92,178, which was the highest total ever recorded in a year until now.
Dubai’s average residential prices increased by 19.1% in the year to October 2023, marginally down from the 19.6% rate of growth registered a month earlier. Over the same period, average apartment and villa prices rose by 18.7% and 21.4%, respectively.
In the year to October 2023, average rents in Dubai increased by 19.7%, registering a decline from the 20.6% growth recorded in September 2023. Over this period, average apartment rents rose by 19.9%, and average villa rents grew by 18.0%.