UAE Q3 2023, Market Watch Quarterly Residential Real Estate Insights
Abu Dhabi Highlights
• According to data from the Department of Municipalities and
Transport (DMT), Abu Dhabi experienced a significant surge in
total sales transactions (both residential and commercial) during
Q2 2023. The number of transactions reached a record high for a
quarter, with 2,635 transactions compared to 1,671 transactions
in the second first quarter of 2022, reflecting a substantial
increase of 57.7%.
• Residential transactions accounted for 97.6% of the total volume
and approximately 89% of the overall value. In the second
quarter of 2023, there were 2,573 residential transactions, a
notable year-on-year increase of 65% in terms of volume
compared to 1,559 transactions in the same period in 2022.
• The transaction value amounted to 6.5 billion AED, marking a
remarkable 78% increase from AED 3.7 billion recorded in the
previous year.
• According to data from the Department of Municipalities and
Transport (DMT), Abu Dhabi experienced a significant surge in
total sales transactions (both residential and commercial) during
Q2 2023. The number of transactions reached a record high for a
quarter, with 2,635 transactions compared to 1,671 transactions
in the second first quarter of 2022, reflecting a substantial
increase of 57.7%.
• Residential transactions accounted for 97.6% of the total volume
and approximately 89% of the overall value. In the second
quarter of 2023, there were 2,573 residential transactions, a
notable year-on-year increase of 65% in terms of volume
compared to 1,559 transactions in the same period in 2022.
• The transaction value amounted to 6.5 billion AED, marking a
remarkable 78% increase from AED 3.7 billion recorded in the
previous year.
Dubai Highlights
• Q2 2023 witnessed a remarkable record for a quarter over
the last decade.
• The registered sales reached 30,098 transactions compared
to 22,322 transactions in Q2 2022, recording a sharp
increase of 34.84% YoY to be the second highest
performance for a quarter for the last decade compared to
Q1 2023, driven by the outstanding performance of ready
transactions.
• In Q2 2023, a total of 158 areas saw real estate transactions,
with 58.2% of the total transactions being accounted for by
just ten areas. Leading the pack was Al Barsha South Fourth,
which contributed 10.6% of the total transactions, followed
by Dubai Marina at 10.6%, and Business Bay with almost 6%. • Interestingly, there was a significant increase in demand for
places out of the top ten areas, such as Wadi Al Safa 3 which
saw an almost 290% increase in transactions, as well as
Zabeel Second with around 314% and Al Hebiah first with
281% compared to Q2 2022.
the last decade.
• The registered sales reached 30,098 transactions compared
to 22,322 transactions in Q2 2022, recording a sharp
increase of 34.84% YoY to be the second highest
performance for a quarter for the last decade compared to
Q1 2023, driven by the outstanding performance of ready
transactions.
• In Q2 2023, a total of 158 areas saw real estate transactions,
with 58.2% of the total transactions being accounted for by
just ten areas. Leading the pack was Al Barsha South Fourth,
which contributed 10.6% of the total transactions, followed
by Dubai Marina at 10.6%, and Business Bay with almost 6%. • Interestingly, there was a significant increase in demand for
places out of the top ten areas, such as Wadi Al Safa 3 which
saw an almost 290% increase in transactions, as well as
Zabeel Second with around 314% and Al Hebiah first with
281% compared to Q2 2022.
