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In 2023, real estate transactions worth AED 378B (USD 97B) were registered in Dubai

In 2023, the luxury property market in Dubai demonstrated an unprecedented growth. The most expensive penthouse in the UAE to date, was sold this year with record-breaking investment volumes.

In the period from January 1 to December 12, real estate transactions worth over AED 378B (USD 97B) were registered in the emirate. To date, more than 124,000 transactions have been made during the year, including 96,083 residential units, 11,503 buildings and 16,808 land plots sold.

In Dubai, the real estate market reached its peak in April 2023, when transactions amounting to AED 5.38B (USD 1.38B) were made in just one day. Another high-performing day was March 27, when the volume of sales of existing real estate reached AED 3.89B (USD 1B). And on October 9, property transactions worth AED 4.65B (USD 1.2B) were recorded.

The emirate’s real estate market has seen a significant increase in homeownership among expats in 2023. Dubai surpassed previous market peaks and achieved new sales records, which proves the extremely high investment attractiveness of the emirate among foreign nationals.

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