A review of real estate trends in April 2023 in Dubai

April 2023 has seen a month-to-month drop in Dubai’s Off-Plan and Ready Property markets, in both the total number and value of overall transactions. There are several possible reasons for the dip in sales, amongst those being the Eid holidays and school spring break, as well as there simply being fewer developer launches this past month.

Despite the current drop in transactions, off-plan properties actually increased in price by roughly 35%. This brings the average cost from AED 3.12M (USD 850,000) to AED 4.22M (USD 1.15M). In contrast, ready properties saw a decrease in price as they fell this month from AED 3.2M (USD 871,000) to AED 2.29M (USD 624,000), a 28% difference.

Considering the top choice properties for investors to buy, one-bedroom apartments far surpassed the rest with 12,418 transactions, followed by two-bedroom apartments and studios, with 7,732 and 6,148 transactions, respectively.

Another important sector to review is the lucrativeness of property investment by location. Current research shows the top three communities to invest in for off-plan properties include Dubai Marina, Dubai Hills and Jumeirah Village Circle. As for ready properties, the most popular communities are Downtown Dubai, Palm Jumeirah and Dubai Marina.