Dubai Real Estate Records $3.6B in Weekly Transactions – Luxury Apartments and Prime Locations

The real estate market in Dubai has been on an extraordinary growth path, with almost AED 13.23 billion ($3.6 billion) done in one week in Dubai’s property market. One of the completed transactions was a sale of AED 100 million ($27 million) apartment in Dubai Marina that proves high interest for premium-class property in the region.

Being one of the most popular districts with foreign investors and residents, Dubai Marina still boasts its unique combination of luxurious residences, marina perspectives, and exclusive features. average property price of AED 2,192,250 and recent 7 days sales having a maximum of AED 19.75 million for a 5Bh unit, the area attracts HNWI who are interested to live in large units in the prime location of Dubai.

Dubai Real Estate Market Snapshot – $3.6B Weekly Transactions Visualized

Also, theoretically, the real estate sector in Dubai has been showing a gradual increase in 2023. Total real estate transactions for the first nine months attained AED 429.67 billion following increased demand in the local and foreign investors’ sector. This has raised the transactional value by 36.7% than the comparable period in 2022, attributed to favorable infrastructure, political laws, and Dubai’s emergent standing as a real estate investment city.

Other major areas such as Al Barsha South Fourth, Business Bay and Palm Jumeirah also position strong in the context of Transaction Value but mortgage volume will likely continue to be led by Dubai Marina. This real estate boost is not only about the vast property developers as it doubles the number of women investing with over AED 62 billion invested by women in 2023 alone.

The sales and investment figures touched by the Dubai property market supplement such numbers, keeping alive the global investors’ interest in stable, lucrative and high-yield opportunities.

Test Your Knowledge on Dubai Real Estate Transactions

1. Did Dubai record $3.6 billion in real estate transactions last week?
2. Which area recorded the highest transaction?
3. Select the popular investment locations in Dubai (Choose all that apply):	Dubai Marina Al Barsha South Business Bay Jumeirah Lake Towers
4. How much was the sale of the luxury Dubai Marina apartment?
5. Was Business Bay one of the top 3 areas for real estate transactions?
6. Which factors contribute to Dubai’s real estate growth? (Select all that apply):	Strong infrastructure Development-oriented leadership High taxation Global reputation

References

Arabian Business. Dubai real estate sector recorded $3.6bn of transactions last week including $27m Dubai Marina apartment. Arabian Business, September 2023.
Espace Real Estate. Dubai Marina – October 2023 Community Report. Espace Real Estate, October 2023.
Property News. In the first nine months of 2023, Dubai recorded real estate transactions worth Dh429.67 billion. PropertyNews.ae, November 1, 2023.
D&B Properties. Dubai Real Estate Sector Records $3.6 Billion in Transactions Last Week, Including a $38 Million Property Sale. D&B Properties, September 27, 2023.