Q2 2023 Real Estate Market Results – Dubai

Results of Real Estate Market in Dubai in Q2 2023

According to the consulting group, ValuStrat, Real Estate Research:

– Dubai villa market has exceeded market peaks of 2014 by 1.2%

Compared to Q1 2023, ValuStrat Index (VPI) rose by 3.4%:

• For Villas increased by 4.3%
• For Apartments went up by 2.6%

Compared to Q2 2022, VPI rose by 11.7%:

• For Villas went by 15.8%
• For Apartments increased by 8.1%

Compared to Q1 2023:

Sales volume

• Ready increased by 9.3%
• Off-plan decreased by 10.6%

Residential asking rents went up by 3.5%

• Villa rentals grew by 3.7%
• Apartment rentals rose by 3.4%

Compared to Q2 2022:

Sales volume

• Ready increased by 11.8%
• Off-plan rose by 75.7%

Residential asking rents went up by 32.6%

• Villa rentals grew by 52%
• Apartment rentals rose by 19.7%

In Q2 2023, the average rental prices:

• Studios – $13,600
• 1 Bedroom Apartments – $19,600
• 2 Bedrooms Apartments – $29,000
• 3 Bedrooms Apartments – $46,000
• Villas – $107,400

Residential occupancy – 86%