Dubai real estate market has reached a record growth in 9 years

By June 2023, the Dubai real estate market has come close to the price indicators of 2014, American analysts say. It is believed that it was in 2014 that the market reached its last peak.

By the end of 2023, the average salary in the fork segment was $16,415 ($4,469), which is 5.5% more than in 2014. In some elite areas, the price has long exceeded the 9-year maximum. For example, in Palm Jumeirah, the cost per square meter in June was AED 52,151 ($14,198).

The average price in the segment of apartments reached AED 13,929 ($3,792) per square meter. This is 13% lower than the 2014 average, but more and more individual districts and residential complexes are overcoming the average mark. First of all, we are talking about Downtown Dubai with a price of AED 26,264 ($7,150).

In the first half of 2023, 57,737 residential real estate transactions were made in Dubai. Analysts note that this is an absolute record in the history of the local market.