Weekly Report 31 | Dubai Real Estate Market – Residential | August 2023

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.