On the other hand, month on month average prices for off-plan properties increased by 35% from AED 3.1M (USD 850K) to AED 4.2M (USD 1.1M). Ready properties saw average transaction prices decrease: a 28% drop from AED 3.2M (USD 871K) to AED 2.3M (USD 624K).
The total year to date (April 2023) transactions in Dubai constitutes AED 66.5B (USD 18B). There were 19,733 off-plan transactions, amounting to AED 43.3B (USD 11.7B), and 13,088 deals for ready real estate, amounting to AED 23.3B (USD 6.3B).
Apartments with one bedroom have been the most popular properties for investors so far this year. The number of transactions by bedrooms this year up to April 2023 are as follows:
- Studios – 6,148
- One-bedroom apartments – 12,418
- Two-bedroom apartments – 7,732
- Three-bedroom apartments – 4,611
- Four-bedroom apartments – 1,714