Dubai’s real estate market continued to perform strongly in October 2023, with sales transactions and prices rising across all asset classes. According to data from the Dubai Land Department, there were a total of 7,523 real estate sales transactions registered in October, up 8.3% from the same month last year. The total value of transactions reached AED 19.5 billion, up 12.6% year-on-year.
The residential sector was the main driver of market growth, with sales transactions increasing by 10.1% year-on-year to 4,685 units. The value of residential sales transactions also rose by 11.7% to AED 8.7 billion.
The villa segment performed particularly well, with sales transactions increasing by 15.2% year-on-year to 696 units. The value of villa sales transactions also rose by 17.8% to AED 2.3 billion.
The apartment segment also saw strong growth, with sales transactions increasing by 8.2% year-on-year to 3,989 units. The value of apartment sales transactions rose by 9.3% to AED 6.4 billion.
The commercial sector also saw positive growth in October, with sales transactions increasing by 4.7% year-on-year to 327 units. The value of commercial sales transactions rose by 3.2% to AED 585.9 million.
The plots sector also saw strong growth, with sales transactions increasing by 12.6% year-on-year to 1,410 units. The value of plots sales transactions rose by 10.2% to AED 17.8 billion.
Highest Price Land Sales in October 2023
|Jumeirah Bay||Land||Dh125 million|
|Al Sufouh||Land||Dh630.79 million|
|Business Bay||Land||Dh456.25 million|
|Al Wasl||Land||Dh397 million|
Most Selling OFF Plan Apartments in October 2023
|The Autograph||61||63 million|
|Mar Casa||49||82 million|
|Azizi Riviera 27||47||31 million|
|Palace Beach Residence||35||62.5 million|
|Azizi Riviera 28||35||22 million|
Most Selling OFF Plan Villas in October 2023
|Jasmine Lane||17||64 million|
|Arabian Ranches Lll – Ruba||11||26 million|
|La Violeta 1||10||21 million|
|The Valley – Eden||09||17 million|
Most Selling Ready Apartments in October 2023
|Sky Courts||57||30 million|
|1 Residences||38||61 million|
|The Nook||34||27 million|
|Act One | Act Two 32||32||102 million|
Most Selling Ready Villas in October 2023
|Rukan 3||51||35 million|
|The Pulse Villas||19||31 million|
|Nad Al Sheba Gardens Phase 3||19||229 million|
|Parkside 2||17||26 million|