Menu
Menu
Menu
No Data Found
Summer seasonality cools the hot streak the Dubai property market has been experiencing in H1 2023. The surge in Dubai property prices witnessed in May, reaching the highest rate of growth seen in over 2 years, experienced a moderation in June. Last month, the rate of price appreciation recorded a still notable increase of 1.2%, but that is half of May’s near-record increase.
Presently, the Property Monitor Data shows the value of Dubai properties stands at AED 1,167 per sq ft. This puts the current property values just 5.4% below the peak observed during the last market cycle in September 2014. The market continues to show resilience and significant potential for investors.
No Data Found
No Data Found
No Data Found
The AED 2m-3m price tier demonstrated the fastest pace of market share growth, surging by 11% in June, reaching a total share of 17.9%. This was instigated by a spate of sales of high-quality off-plan apartments at prominent locations such as Creek Waters in Dubai Creek Harbour, Golf Grand in Dubai Hills, and Design Quarter at D3. These locations achieved average prices of AED 2,251, AED 2,029, and AED 2,478 per sq ft, respectively.
On the other hand, the AED 750k-1m price tier experienced a decline, losing 1% and falling to 12.49% of the market share during the same period.
While the AED 2m-3m tier emerged as the leader in growth for the month, the neighboring price tiers above and below also experienced modest growth during the period.
This indicates a balanced and diverse market performance across different price ranges, providing opportunities for both buyers and sellers in various segments of the market.
There was some small movement at the lower end of the affordability spectrum with the less than 1m tiers losing a small proportion of market share against May’s position.
By submitting this form you agree to subscribe to updates from M&M Real Estate and be sent information in relation to its products and services.
A1606, The Opus by Omniyat
Business Bay, Dubai, UAE
Leave your email to be added to our mailing list
By submitting this form you agree to subscribe to updates from M&M Real Estate and be sent information in relation to its products and services.
© 2023 M&M Real Estate Brokerage. All Rights Reserved. Website by Sumner & Co.
