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.