Overseas property
Articles

Dubai's off-plan property market in October 2023: 54% fewer transactions

85 views · Updated on
Dubai
VideoFlow / Shutterstock

The Tranio team continues to analyse statistics on off-plan property deals based on data from the Dubai Land Department. The number of transactions is decreasing.

In October 2023, buyers completed 2,253 property transactions during the construction phase which is 54% less than the same period in 2022 (4,918 transactions). Compared to the previous month, the number of transactions decreased by 34%.

Number of off-plan deals in Dubai, October 2023
Number of off-plan deals in Dubai, October 2023

The total value of off-plan properties sold in October was estimated at 2.9 billion US dollars, down 5.7% year-on-year and 9% higher than in September 2023.

Total sales of off-plan properties in Dubai, October 2023
Total sales of off-plan properties in Dubai, October 2023

The price per square metre in October averaged 5,091 dollars. In October last year, a square metre was sold for 5,586 dollars, which is 8.9% more expensive.

Average price for off-plan properties in Dubai, October 2023
Average price for off-plan properties in Dubai, October 2023
Share the article

Rate the article

Subscribe not to miss new articles

We will send you a content digest not more than once a week

Subscribe
    I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
    Done!

    Tranio’s managers offer advice on buying real estate in Dubai
    Elvira Gracheva
    Elvira Gracheva
    Head of Sales Tranio Europe
    +44 17 4822 0039
    Send a request
      I confirm that I have read and accept the Privacy Policy and Personal Data Processing Guidelines.
      • Residence permit support
      • Interest-free instalment