Report
Residential Sales
2023
Total Transaction Value
156788
Primary transactions (developer under construction) valued at:
AED 67Bn
568
Secondary ready units transacted at:
AED 67Bn
9843
Secondary under construction transactions valued at:
AED 67Bn
Year-on-Year Market Evolution: Narrative vs Reality
Dubai Population Growth (2017 – 2026)
Residential Transaction Value (Total Transactions Shown Below)
Dubai Population vs Residential Transactions (2017-2026)
| YEAR | POPULATION | POPULATION Y/Y | NET POPULATION ADDITION | RESIDENTIAL TRANSACTION VALUE (AED BN) | TRANSACTION VALUE Y-O-Y | OFF-PLAN TRANSACTIONS | READY TRANSACTIONS | TOTAL TRANSACTIONS |
|---|---|---|---|---|---|---|---|---|
| 2017 | 3 | - | 0 | 40.9 | - | 19,084 | 434 | 19,518 |
| 2018 | 3 | 12% | 0 | 60.8 | 48.7% | 83,944 | 43,567 | 127,511 |
| 2019 | 4 | 32.1% | 1 | 70.7 | 16.3% | 349,084 | 8,654 | 357,738 |
| 2020 | 4 | 13.5% | 1 | 77 | 8.9% | 53,656 | 76,778 | 130,434 |
| 2021 | 5 | 16.7% | 1 | 76.4 | -0.8% | 5,362 | 4,676 | 10,038 |
| 2022 | 5 | 6.1% | 0 | 80.7 | 5.6% | 2,577 | 45,563 | 48,140 |
| 2023 | 6 | 11.5% | 1 | 85.1 | 5.5% | 674 | 24,665 | 25,339 |
| 2024 | 6 | 3.4% | 0 | 89 | 4.6% | 35,545 | 67,889 | 103,434 |
| 2025 | 7 | 16.7% | 1 | 90 | 1.1% | 34,563 | 76,543 | 111,106 |
| 2026 | 8 | 12.9% | 1 | 92.9 | 3.2% | 24,626 | 36,677 | 61,303 |
Population Growth: Consistent and Resilient
Key Insight:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Residential Transactions: Capital Growth Far Outpacing Population
Key Insight:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Top 5 developers share of Dubai residential transaction value (2023)
| DEVELOPER | PRIMARY (AED BN) | SECONDARY - OFF PLAN | SECONDARY - READY (AED BN) | TOTAL TRANSACTION VALUE | % SHARE WITHIN TOP 5 DEVELOPERS |
|---|---|---|---|---|---|
 Al SAQR DEVELOPERS | 344,545 | 45,643 | 345,655 | 735,843 | 100% |
Capital is concentrated:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Emaar anchors the market:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Pricing power is uneven:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
2025 is conviction-led:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
2023 Transaction Value:
Apartment vs Villa
Price based segmentation: Apartments
Dubai apartment market 2023 – Segmentation by price
| Segment | Price Range (AED MN) | 2023 Value (AED BN) | Share of 2023 Value (%) | Market Role |
|---|---|---|---|---|
| Affordable | <1M | 435 | 7.4% | Entry-level; necessity-driven |
| Mid-Market | 1M – 2M | 4543 | 77% | Entry-level; necessity-driven |
| Upper Mid-Market | 2M – 5M | 435 | 7.4% | Entry-level; necessity-driven |
| Luxury | 5M – 12M | 245 | 4.2% | Entry-level; necessity-driven |
| Ultra-Luxury | >12M | 245 | 4.2% | Entry-level; necessity-driven |
Dubai Apartment Market 2023 – Transaction Value by Price Segment
The apartment market is anchored in the AED 1M–5M band:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Affordable housing plays a supporting role, not a driver:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Luxury and ultra-luxury remain selective, not speculative:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Price based segmentation:
Villas
Dubai villa market 2023 – Segmentation by price
| Segment | Price Range (AED MN) | 2023 Value (AED BN) | Share of 2023 Value (%) | Market Role |
|---|---|---|---|---|
| Affordable & Mid-Market | <1M – 2M | 4324 | 5.4% | Entry-level; necessity-driven |
| Upper Mid-Market | 2M – 5M | 4556 | 5.7% | Entry-level; necessity-driven |
| Luxury | 5M – 12M | 65467 | 81.8% | Entry-level; necessity-driven |
| Ultra-Luxury | >12M | 5644 | 7.1% | Entry-level; necessity-driven |
Dubai Villa Market 2023 – Transaction Value by Price Segment
Population growth in
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Key takeaway:
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
2022 vs 2023
Year-on-Year Comparison (vs 2022)
| Metric | 2022 | 2023 | Change |
|---|---|---|---|
| Total transactions | 454 | 533 | +17.4% |
| Total sales value (AED Bn) | 435 | 4,545 | +944.8% |
| Average price per sqft | 4,543 | 5,444 | +19.8% |
| No. of Off-plan transactions | 2,345 | 4,455 | +90% |
| No. of ready transactions | 5,454 | 5,890 | +8% |
Population growth in Dubai has proven structural, durable, and self-reinforcing
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Month on Month trend
Dubai Residential Market: Transactions & Value (Jan–Dec 2023)
Population growth in Dubai has proven structural, durable
Population growth in Dubai has proven structural, durable, and self-reinforcing, surviving global shocks and re-accelerating as capital and talent inflows resumed.
Key Inferences & Conclusions
Population growth
Population growth
Population growth
Sources: Public government data (Dubai Pulse) & Licensed market data (REIDIN)
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