Dubai Residential Real Estate Market Snapshot September 2023

Key Takeaways:

1. The total volume of transactions in Dubai’s residential market stood at 11,328 in August 2023, this is the second-highest monthly figure ever registered, up by 22.0% compared to the previous year.
   
   
2. In the year to date to August 2023, a total of 79,605 transactions were registered, the most on record over this period.
   
   
3. In the 12 months to August 2023, average prices rose by 19.6%, up from 18.1% a month earlier. Over this period, average apartment prices rose by 20.0%, and average villa prices rose by 17.3%.
   
   
4. Average rents in Dubai rose by 21.7% in the year to August 2023, down from 22.0% in July 2023. Over this period, average apartment and villa rents increased by 21.5% and 22.6%, respectively.