Dubai real estate: May 2023
Dubai real estate figures: May 2023 show exceptional growth, confirming the upward trend observed since the beginning of the year.
Foreign investment continues to play a key role in Dubai’s real estate market, accounting for over 60% of transactions and underlining the city’s enduring appeal as a real estate investment destination.
Property sales rose sharply in May, while the rental market also showed signs of strength.
Dubai Real Estate | Net brings you the latest real estate figures every month.
Here are the key figures for May 2023, compared to May 2022:
Buying real estate in Dubai :
- The number of real estate transactions rose by 75.9%, with a total of 11,757 sales.
- The value of sales rose by 87% to 34.2 billion dirhams (around 8.5 billion euros).
Apartment sale :
- Apartment sales were up by a significant 88.4% compared with May 2022.
Sale of villa / house :
- The number of villa sales fell by 7.6%.
- Villa prices have risen by 25%.
Sale of land :
- Land sales rose by an impressive 233%.
Sale of commercial premises :
- Sales of commercial premises rose by 109%.
The rental market in May 2023
- Apartment rents rose by an average of 11.7%.
- Villa rents rose by an average of 33.3%.
The neighborhoods most sought after by investors in May 2023
- Dubai Marina: 1,245 sales.
- Jumeirah Circle Village (JVC): 1,187 sales.
- Business Bay: 665 sales.
In conclusion, Dubai continues to be a preferred destination for luxury real estate, with impressive figures in May 2023.
Price growth, rising transaction volumes and the continuing attraction of foreign investors all testify to a solid and steadily expanding real estate market.
Dubai thus remains a key destination for global real estate investment.
