Downtown Dubai Q3 2023 Market Report

An iconic destination in the heart of the city, Downtown Dubai is loved by homeowners, buyers, investors and tenants alike – and they’re willing to pay the increased prices to be part of the Downtown lifestyle. Most transactions this quarter were for 1 and 2 bedroom properties. We saw an increase in average sales prices overall, with some ultra luxury sales significantly impacting the averages for 4 and 5 bedroom properties. Despite a slight decrease in sales transactions – which is typical during the summer months – there was a substantial surge in both new rental contracts and renewals.