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