The Dubai property market closed strong in 2023, ending the year on a record-breaking high with a 37.1 percent increase in transactions and 55.4 percent growth in sales value.
Dubai's real estate market thrived, with apartments leading the way with a remarkable 46.6% increase in transactions, while villas, although only slightly higher at 10%, also contributed to the market's growth.Â
Prices in the market are on a promising upward trajectory, gradually recovering from the dip experienced in 2020. This positive trend reflects the resilience and strength of the real estate sector, offering encouraging opportunities for both buyers and sellers as we move ahead.
In terms of off-plan property deliveries, it's noteworthy that 2023 witnessed a significant milestone. An impressive 72% of the properties that were initially in the off-plan phase successfully reached completion during this year. This translates to a substantial sum of 36,739 units delivered to eager homeowners and investors. Such a high delivery rate reflects the efficiency and dedication of the real estate sector in keeping pace with market demands and ensuring that properties are handed over to their rightful owners in a timely manner.
For more insights and detailed statistics, you can download our full Dubai Real Estate Market Annual Report for 2023. Dubai's property market is abuzz with excitement, and the future offers even more growth and investment opportunities in this ever-evolving cityscape.
Download the full Dubai Real Estate Market Report for 2023: