Q1 2023

Q1 2023 RESULTS

Dubai real estate sector registered 30,895 sales transactions worth $24.1 billion according to Dubai Land Department. This is the best Q1 number of sales ever on record. According to global commercial real estate services, CBRE. For the Q1 2023, average prices increased by 12.8%:

• Apartments rose by 12.4% ($3,600 per sqm)
• Villas rose by 14.8% ($4,300 per sqm)

The highest average sales prices were recorded in areas:

• Apartments – Jumeirah ($7,150 per sqm)
• Villas – Palm Jumeirah ($13,100 per sqm)

Rent prices inceased by 26%:

• Apartments rose by 26.3% ($27,500 per year)
• Villas rose by 26,2% ($81,900 per year)

The highest rental prices were recorded in Palm Jumeirah:

• Apartments – $72,000 per year
• Villas – $272,400 per year