Key Highlights:
1
In February 2023, total transaction volumes in Dubai’s residential market reached 8,515, a 43.9% increase from the previous year and the highest February figure on record.
17,741 residential transactions have been recorded in the year to date to February 2023, the most on record during the first two months of the year.
2
In the year to February 2023, average prices in Dubai rose by 11.5%, where average apartment prices rose by 11.2% and average villa prices by 13.6%.
3
AED 1,211
Average apartment
price per square foot in Dubai
AED 1,432
Average villa
price per square foot in Dubai
AED 2,388
Highest average apartment
price per square foot in
Dubai, in Jumeirah
AED 4,309
Highest average villa price
per square foot in Dubai, in
Palm Jumeirah
AED 100k
Average annual rent for
an apartment in Dubai
AED 295k
Average annual rent for
an villas in Dubai
Key Takeaways:
Apartment
Villa
AED 260k
Highest average annual
apartment rent in Dubai,
in Palm Jumeirah
AED 1.0m
Highest average annual
villa rent in Dubai, in
Palm Jumeirah
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Record levels of demand recorded in Dubai’s residential market during first two months of 2023.
Read CBRE’s Dubai Residential Market Snapshot, an overview of the key trends and metrics driving Dubai’s residential real estate market.
Dubai Residential
Real Estate Market Snapshot March 2023
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In the year through February 2023, average rents in Dubai have increased by 27.7%. Over this period, average apartment and villa rents have increased by 27.9% and 26.3%, respectively.
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