The UAE Real Estate Market – Q2 2023
Dubai and Abu Dhabi witness soaring off-plan transactions, signalling continued investor confidence
- Faraz Ahmed
- Muhammad Aijaz
- Sara Alameddine
Off-plan transactions in the residential markets of Dubai and Abu Dhabi continued to see a robust growth momentum in Q2 on the back of resurgent investor confidence and robust absorption of newly launched projects.
Residential market performance continued to improve in Dubai, with a 16% uptick in sale prices and 24% in rentals in May 2023 when compared to the same period last year. Demand for high-quality luxury products persisted in established mixed-use communities. In the capital, sale prices and rentals were marginally up by 1% each as outdated stock on the main island continued to face pressure from newer high-end communities.
Read our latest UAE Real Estate Market report to find out more.