Insights & Research

In December 2023, the total number of residential transactions amounted to 4,997, marking a notable 37% decrease when compared to the previous month's figures. This decline was particularly pronounced in the off-plan transactions segment, showcasing a significant and noteworthy 65% month-on-month decrease.

During November 2023, the total number of residential transactions saw a remarkable upswing, reaching a substantial 7,972, which reflected a significant and noteworthy 43% increase when compared to the previous month. This surge was particularly prominent in off-plan transactions, showcasing an impressive 170% month-on-month escalation. In contrast, transactions involving ready properties experienced only a marginal 1% increase. Notably, ready-sale properties constituted a majority share, comprising 53% of the total transactions for the month, with the remaining 47% involving off-plan properties.

In October 2023, residential transactions totalled approximately 5,565, reflecting a 13% decrease from the previous month. This decline was particularly pronounced in off-plan transactions, witnessing a notable 40% month-on-month decrease. Conversely, ready transactions experienced a 3% increase.

Property valuation refers to the process of determining the monetary worth or market value of a real estate asset. the primary purpose of property valuations is to ascertain an accurate and fair market value for a property. This valuation aids stakeholders in making informed decisions related to buying, selling, financing, insurance, taxation, and financial reporting. Additionally, it provides a basis for asset management and portfolio analysis

In September 2023, there were a total of approximately 6,368 residential transactions. This represented a 23% decrease compared to the previous month. A significant portion of this decline was observed in off-plan transactions, which experienced a notable 57% month-on-month decrease. Conversely, ready transactions saw a substantial 34% increase.

The Central Bank of UAE announced in its latest economic review that the GDP of UAE in 2022 grew by 7.9% which is a slight increase from its earlier projection of 7.6%. The Central Bank now projects the GDP for 2023 to grow by 3.3% down from the earlier projection of 3.9% as it projects slower growth in the oil sector due to agreements between OPEC+ members. The Bank maintained its GDP projections for 2024 at 4.3%.

In the 35th week, there were a total of 1,532 transactions in residential units in Dubai. This represents a slight decrease of 3% compared to the previous week. 

During the 34th week, the cumulative count of transactions reached 1,574, signifying a notable 29% contraction when juxtaposed with the previous week's figures. Notably, the week's monetary value stood at AED 3.39 Billion, marking a substantial 31% decline relative to the preceding week.

Dubai witnessed a notable surge in its transaction activity, with a total of 2,224 transactions occurring. This figure represents a significant 47% increase compared to the previous week's transaction count. The cumulative value of transactions over this week reached AED 4.94 billion, reflecting a remarkable rise of 37% in terms of transaction value.

During the current week, transactions of residential units in Dubai witnessed a notable decline of 25% compared to the preceding week. Last week, a total of 2002 transactions took place, whereas this week saw 1510 transactions.

Residential volume across Dubai increased significantly by 40% during this week as compared to last week, which recorded a total of 2,003 transactions over 1,425 transactions in the previous week.