Dubai Real Estate Market 2023 Results

Dubai Real Estate Market – 2023 Results

Property Sales

Compared to 2022:

Total volume increased by 38% – 133,134 transactions

Value rose by 56% – $112 billion

Highest performance for a year ever recorded

Existing properties’ volume increased by 20.7% – 64,351 transactions

Value rose by 46.8% – $68 billion

Off-plan volume increased by 59.4% – 68,783 transactions

Value rose by 39% – $44 billion

Sales prices in Dubai for a 1-bedroom apartment in TOP 5 popular areas:

1. Dubai Marina – $395,000

2. Downtown Dubai – $517,000

3. Jumeirah Village Circle – $231,000

4. Business Bay – $422,000

5. Palm Jumeirah – $790,000

Property Rental

Compared to 2022:

Rental contracts’ volume increased by 3.7% – 625,661

92.1% of them were annual contracts

Annual rental prices in Dubai for a 1-bedroom apartment in TOP 5 popular areas:

1. Dubai Marina – $30,000

2. Jumeirah Village Circle – $19,000

3. Downtown Dubai – $35,000

4. Business Bay – $26,000

5. Jumeirah Lake Towers – $22,000