Market Watch 2023: UAE Real Estate Trends and Insights Revealed
2023 is over, and it’s time for a full recap on the real estate market in UAE during this year. The Market Watch full annual report is here, which is your optimum source of trusted data and insights about the real estate market in UAE.
Let’s go into more detail about the market performance during 2023, the high-in-demand areas in Dubai and Abu Dhabi, and more.
Let’s go into more detail about the market performance during 2023, the high-in-demand areas in Dubai and Abu Dhabi, and more.
Abu Dhabi Highlights
Abu Dhabi witnessed a significant increase in the total sales transitions: residential and commercial, during 2023, according to the Department of Municipalities and Transport’s (DMT) data.
The number of transactions reached a high record for a year, achieving 13,298, compared to 7,602 transactions in 2022. This reflects a 75% increase.
For residential transactions, it has a share of 97% of the total volume and around 85% of the overall value.
The transaction value reached an amount of AED 44 Billion, showing a notable 120% increase compared to AED 19.9 Billion in 2022.
The number of transactions reached a high record for a year, achieving 13,298, compared to 7,602 transactions in 2022. This reflects a 75% increase.
For residential transactions, it has a share of 97% of the total volume and around 85% of the overall value.
The transaction value reached an amount of AED 44 Billion, showing a notable 120% increase compared to AED 19.9 Billion in 2022.
Dubai Highlights
n 2023, the registered sales transactions reached 133,134, which is a significant increase compared to 96,459 in 2022.
This records an increase of 38%, showing the highest performance for a year ever recorded, owing to the amazing performance of the off-plan transactions.
During 2023, 178 areas in Dubai witnessed real estate transactions. 55.2% of the transactions took place in 10 areas where Al Barsha South Fourth is at the top of the list. It contributed 10.7% to the total sales transactions.
This records an increase of 38%, showing the highest performance for a year ever recorded, owing to the amazing performance of the off-plan transactions.
During 2023, 178 areas in Dubai witnessed real estate transactions. 55.2% of the transactions took place in 10 areas where Al Barsha South Fourth is at the top of the list. It contributed 10.7% to the total sales transactions.
