UAE real estate market analysis for 2023

At the end of May: the average price per square meter rose to $5,000; the average price of properties in the 5 months of this rose by 9.2%. Sales for the first 5 months of 2023 totaled $32.26 billion, bolstering confidence in the forecast to take the $80 billion mark for all of 2023 (up 33% from 2022).

These numbers were achieved despite the seasonal downturn in April, which was also seen last year. And the decline in April is justified by the fact that the entire month of April is the Ramadan holiday in Muslim countries. Real estate deals are mostly postponed until after Ramadan.

Preliminary results of the first half of this year: a total of 61,000 property sales in Dubai for a record amount of 179.34 billion AED ($ 49 billion).

The most popular apartment building in June was DAMAC Bay by Cavalli. In the first three weeks of June, there were $416.5 million in deals at the complex, according to the land department.

On our platform, you can view the twin project – DAMAC Bay 2 by Cavalli