The UAE’s residential market continues to showcase strong levels of demand in Q3, says CBRE

CBRE releases its UAE Residential Market Review Q3 2023

Dubai – October 26, 2023 – The UAE’s residential market continues to showcase strong levels of demand, which is helping maintain strong performance in Q3 2023.

Taimur Khan, Head of Research – MENA at CBRE in Dubai

In Abu Dhabi, the total volume of residential transactions reached 2,930 in Q3 2023, up by 84.3% from the year prior. This increase has been underpinned by a 101.6% growth in off-plan market sales and a 46.0% increase in secondary market sales. In the year to date to Q3 2023, a total of 7,844 transactions were registered, marking a year-on-year growth of 91.1%. Over this period, off-plan transactions grew by 135.5%, and secondary market transactions rose by 22.7%. In the year to the third quarter of 2023, average apartment prices in Abu Dhabi increased by 0.9%, whilst average villa prices marginally dropped by 0.1%.

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