– Market Share Breakdown
Using a number of select communities* as a proxy to gauge the overall status of the luxury market, we can see a noticeable pattern emerge over the last three and a half years. The communities in question have comprised 14% of the total citywide residential sales value since January 2021, despite themselves being made up of relatively few transactions. However, we can see that their share of Dubai’s residential sales value has been declining, as has their share of high end luxury sales volumes.
– Sales Volume Analysis
If we examine the communities themselves on an individual basis, we can see that sales volumes peaked between mid-to-late 2023 (generally speaking). However, sales trajectories are now in decline, or beginning to stagnate at best. This suggests a move towards newer communities and upcoming projects, as well as a general shift towards the mid market.