Dubai Residential Real Estate Market Snapshot October 2023

Key Takeaways:

• In September 2023, a total of 7,523 transactions were recorded in Dubai’s residential market, registering a decline of 8.3% compared to a year earlier.
• In the year to date to September 2023, the total transaction volumes reached 87,154. This is the highest figure registered over this period.
• In the year to September 2023, average prices in Dubai increased by 19.6%. Over this period, average apartment prices increased by 19.7%, and average villa prices increased by 18.9%.
• In the 12 months to September 2023, average residential rents increased by 20.6%, down from the 21.7% growth registered a month earlier. Over this period, average apartment and villa rents rose by 20.7% and 20.1%, respectively.