Building · Transactions · 2023

MAG 550 Property Transactions 2023

8 property sales worth ⃃ 4.23M were registered in MAG 550 in 2023, 60.0% higher than 2022 by number of sales. The median sale price was ⃃ 460,000 and the median price per square foot ⃃ 700 (+6.2% on 2022).

Period: 1 Jan – 31 Dec 2023Compared with: 2022Sample: 8 salesUpdated: 18 Oct 2026
Property sales
8
+60.0% vs 2022
1 Jan – 31 Dec 2023
Total value
⃃ 4.23M
+68.6% vs 2022
1 Jan – 31 Dec 2023
Median sale price
⃃ 460,000
+47.1% vs 2022
8 sales
Median price per sq ft
⃃ 700
+6.2% vs 2022
8 sales

What types of property sold in MAG 550 in 2023?

1 Jan – 31 Dec 2023

SegmentSalesShare of salesValueMedian pricePer sq ft
Apartments8100%⃃ 4.23M⃃ 460,000⃃ 700

How were 2023 sales split between off-plan, ready, primary and resale?

Primary/resale (who sold) and off-plan/ready (the unit’s state at sale) are separate splits; each pair adds up to the total.

SegmentSalesShare of salesValueMedian pricePer sq ft
Primary (developer sales)337.5%⃃ 2.12M⃃ 715,920⃃ 710
Resale (secondary)562.5%⃃ 2.11M⃃ 440,000⃃ 690
Ready8100%⃃ 4.23M⃃ 460,000⃃ 700

How many rental contracts were registered in MAG 550 in 2023?

55 rental contracts (new and renewed) were registered in MAG 550 in 2023, at a median annual rent of ⃃ 33,000 (+17.9% on 2022). Rental yields in MAG 550

What were the most expensive property sales in MAG 550 in 2023?

The ten highest registered sale prices in the year.

DatePropertyTypeSizePriceMarket
07/02/2023MAG 5502 beds · Apartment1,040 sq ft⃃ 718,598Primary · Ready
24/06/2023MAG 5502 beds · Apartment1,005 sq ft⃃ 715,920Primary · Ready
06/02/2023MAG 5502 beds · Apartment965 sq ft⃃ 685,000Primary · Ready
25/05/2023MAG 5501 bed · Apartment642 sq ft⃃ 470,000Resale · Ready
25/10/2023MAG 5501 bed · Apartment634 sq ft⃃ 450,000Resale · Ready
24/10/2023MAG 5501 bed · Apartment642 sq ft⃃ 440,000Resale · Ready
31/07/2023MAG 5501 bed · Apartment638 sq ft⃃ 440,000Resale · Ready
08/06/2023MAG 550Studio · Apartment473 sq ft⃃ 310,000Resale · Ready

What were the last registered sales of 2023?

DatePropertyTypeSizePriceMarket
25/10/2023MAG 5501 bed · Apartment634 sq ft⃃ 450,000Resale · Ready
24/10/2023MAG 5501 bed · Apartment642 sq ft⃃ 440,000Resale · Ready
31/07/2023MAG 5501 bed · Apartment638 sq ft⃃ 440,000Resale · Ready
24/06/2023MAG 5502 beds · Apartment1,005 sq ft⃃ 715,920Primary · Ready
08/06/2023MAG 550Studio · Apartment473 sq ft⃃ 310,000Resale · Ready
25/05/2023MAG 5501 bed · Apartment642 sq ft⃃ 470,000Resale · Ready
07/02/2023MAG 5502 beds · Apartment1,040 sq ft⃃ 718,598Primary · Ready
06/02/2023MAG 5502 beds · Apartment965 sq ft⃃ 685,000Primary · Ready

How these figures are calculated

Sales
Registered sale transactions dated in the year, all property types, primary and resale, off-plan and ready.
Medians
Median sale price and median price per square foot of those sales.
Year-on-year
Changes compare 2023 with the whole of 2022.
Primary vs resale
Primary = sold by the developer; resale = sold by a previous owner. Off-plan/ready describes the unit, not the seller.

Full definitions: DXBinteract methodology · market indicators explained

Source and how to cite

DXBinteract analysis based on Dubai Land Department transaction data.

Data to
(latest registered transaction)
Last updated
— figures refresh hourly from the live dataset
Permanent URL
https://dxbinteract.com/dubai-property-transactions/mag-550/2023
MAG 550 Property Transactions 2023. DXBinteract, data to 16 Oct 2026. https://dxbinteract.com/dubai-property-transactions/mag-550/2023

Republishing? Keep the source line “DXBinteract analysis based on Dubai Land Department transaction data.” and link to this page. Attribution guidelines

Frequently asked questions

How many properties were sold in MAG 550 in 2023?
8 property sales worth ⃃ 4,229,518 were registered in MAG 550 in 2023. That is 60.0% higher than 2022.
What was the median property price in MAG 550 in 2023?
The median sale price was ⃃ 460,000 and the median price per square foot ⃃ 700 (1 Jan – 31 Dec 2023).
What share of 2023 sales in MAG 550 were off-plan or from developers?
Developer (primary) sales were 37.5% of the 8 sales and resales 62.5%. Primary/resale and off-plan/ready are different splits.

Last updated · data to 16 Oct 2026 · https://dxbinteract.com/dubai-property-transactions/mag-550/2023