UAE Q1 2023, Market Watch Quarterly Residential Real Estate Insights
Abu Dhabi Highlights
• In Q1 2023, according to the Department of Municipalities and
Transport (DMT) data, Abu Dhabi sales transactions witnessed a
significant record for a quarter by registering 2,027 transactions
compared to 1,383 transactions in Q1 2022 recording a sharp
increase of 46.6%.
• The total sales transaction value in Q1 2023 witnessed an
outstanding record by reaching AED 11.602 billion compared to
AED 3.633 billion in Q1 2022. The market value of the sales
transactions witnessed a remarkable year-on-year growth of
219.4% and 77% compared to Q4 2022 due to the attraction of
global investors as a result of the stability of the economic
environment against global instability, the revival in tourism
figures, the successful vaccination procedures and the scaling
back of the COVID-19 restrictions.
• In Q1 2023, according to the Department of Municipalities and
Transport (DMT) data, Abu Dhabi sales transactions witnessed a
significant record for a quarter by registering 2,027 transactions
compared to 1,383 transactions in Q1 2022 recording a sharp
increase of 46.6%.
• The total sales transaction value in Q1 2023 witnessed an
outstanding record by reaching AED 11.602 billion compared to
AED 3.633 billion in Q1 2022. The market value of the sales
transactions witnessed a remarkable year-on-year growth of
219.4% and 77% compared to Q4 2022 due to the attraction of
global investors as a result of the stability of the economic
environment against global instability, the revival in tourism
figures, the successful vaccination procedures and the scaling
back of the COVID-19 restrictions.
Dubai Highlights
• Q1 2023 witnessed a remarkable record for a quarter over the
last decade. There were 30,952 total sales transactions
compared to 20,352 transactions in Q1 2022, recording a
sharp increase of 52% YoY to be the highest performance for
a quarter ever, driven by the outstanding performance of off-
plan transactions.
• In Q1 2023, a total of 146 areas saw real estate transactions,
with 57% of the total transactions being accounted for by
just ten areas. Leading the pack was Al Barsha South Fourth,
which contributed to 11% of the total transactions, followed
by Business Bay at 8.8% and Dubai Marina with over 7.5%.
• Interestingly, there was a significant increase in demand for
new areas, such as Al Yelayiss 2 which saw an almost 500%
increase in transactions, as well as Nadd Hessa with around
213% and Al Hebiah Third with 171% compared to Q1 2022.
last decade. There were 30,952 total sales transactions
compared to 20,352 transactions in Q1 2022, recording a
sharp increase of 52% YoY to be the highest performance for
a quarter ever, driven by the outstanding performance of off-
plan transactions.
• In Q1 2023, a total of 146 areas saw real estate transactions,
with 57% of the total transactions being accounted for by
just ten areas. Leading the pack was Al Barsha South Fourth,
which contributed to 11% of the total transactions, followed
by Business Bay at 8.8% and Dubai Marina with over 7.5%.
• Interestingly, there was a significant increase in demand for
new areas, such as Al Yelayiss 2 which saw an almost 500%
increase in transactions, as well as Nadd Hessa with around
213% and Al Hebiah Third with 171% compared to Q1 2022.
