The Dubai real estate market has displayed intriguing trends in September 2023. The total property sale transactions in Dubai for September 2023 reached 8,235, indicating a slight decrease of 4.8% compared to the same month in the previous year. The off-plan sector has witnessed a more significant decline, especially in the apartments sector, while JVC continues to be one of the most in-demand areas for both off-plan and ready property in Dubai. Let’s delve into the numbers!
1. Total Property Sale Transactions
ALL (off-plan and ready): 8,235
-4.8% vs. September-2022
OFF-PLAN: 3,416
-30.5% vs. September-2022
OFF-PLAN Apartments: 2,085
-45.4% vs. September-2022
2. Total Sales Value
ALL (off-plan and ready): AED 26.1B
Up 7.5% vs. September-2022
OFF-PLAN: AED 9.6B
-17% vs. September-2022
OFF-PLAN Apartments: AED 4.2B
3. Top 5 Areas in Demand for Off-Plan & Ready Property:
JVC
Business Bay
Al Barsha South Third
Al Merkadh
Damac Lagoons
4. Average Rental Property Prices
Apartments: AED 70K
Up 20.7% vs. September, 2022
Villas: AED 180K
Up 30.4% vs. September, 2022
Commercial: AED 55K
Up 37.5% vs. September, 2022
*All data is provided by dxbinteract.com