The Dubai real estate market continued to make headlines in August 2023, demonstrating remarkable growth and resilience. Last month’s report brings us an in-depth look at the key trends, transactions, and statistics that define the current state of Dubai’s real estate landscape.
1. Property Transaction Breakdown
Dubai saw a total of 12,035 property sale transactions in August 2023, marking a significant 23.7% increase compared to the same period in 2022.
The breakdown of property types reveals some interesting insights:
– Apartments dominated the market with 8,983 transactions, representing a substantial 33.2% increase compared to August 2022, with a total value of AED 18.1 billion.
– Villas, while showing a slight decline of 11.7% compared to the previous year, still managed 2,142 transactions with a total value of AED 8.6 billion.
– Commercial properties, numbering 309 transactions, experienced a 15.7% growth, totaling AED 487.2 million in value.
– Plot sales witnessed a staggering 105.1% increase, with 601 transactions amounting to a total value of AED 6.5 billion.