
2023: Dubai’s Property Boom Leaves Expats Feeling the Heat!
The average price of an apartment in Dubai has increased by 20% over the past year and a half, the biggest increase in almost a decade, CBRE Group reported Monday. According to CBRE, off-plan sales, which are undeveloped properties purchased directly from a developer, increased by 58.7% in August 2023 compared to the same month last year, while sales of existing properties decreased by 10.2% in August. CBRE’s latest report, “Dubai Residential Market Snapshot,” shows the highest growth in apartment sales since November 2014.
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