October Real Estate Market Results

October 2023 – Real Estate Market Results

According to the Dubai Land Department data:

– In October 2023, 7,099 property transactions worth $8.07 billion were completed in Dubai.

Property deals show 18% volume reduction and 19% value rising compared to October 2022.

• 79% – 5,578 transactions worth $6.98 billion – Existing Properties

• 21% – 1,521 transactions worth $1.09 billion – Off-plan Properties

Compared to October 2022:

– Existing volume rose by 38%, the value increased by 84%

– Off-plan volume dropped by 67%, the value fell by 64%

TOP Projects by Sales Value:

Apartments

1. One Za'abeel – $83.4 million

2. AVA at Palm Jumeirah by Omniyat – $59.9 million

3. Il Primo – $43.3 million

4. Atlantis The Royal Resort and Residences – $35.6 million

Villas

1. Aura – $24.7 million

2. Jasmine Lane – $17.5

3. The Fields At D11 – $17 million

4. Elan – $16 million

1st Place by Sales Volume:

Apartments – The Autograph

Villas – Aura