Dubai Marina Q3 2023 Market Report
Home to some of the world’s tallest residential towers, Dubai Marina has become the place to be for urban waterfront living. Average sales prices remained stable during this quarter, with some luxury sales significantly bumping up the 5 bedroom average. Most transactions were for 1 and 2 bedroom properties – particularly popular with first-time buyers and investors thanks to their high investment returns, especially on the short term rental market. Sales transactions slowed down slightly, which was anticipated due to the slower summer months. However, we expect activity in the area to pick up towards the end of the year. On the other hand, the rental market dodged the seasonal slowdown as we saw a significant increase in both new contracts and renewals.