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The latest market report highlights another exceptional performance in Dubaiโs real estate market. With record-breaking numbers and solid fundamentals, the city remains one of the most dynamic markets globally.
๐๐ฒ๐ ๐๐ป๐๐ถ๐ด๐ต๐๐ ๐ณ๐ฟ๐ผ๐บ ๐๐ต๐ฒ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐
๐ฅ๐ฒ๐ฐ๐ผ๐ฟ๐ฑ ๐ง๐ฟ๐ฎ๐ป๐๐ฎ๐ฐ๐๐ถ๐ผ๐ป ๐ฉ๐ผ๐น๐๐บ๐ฒ๐
A total of ๐ฎ๐ฌ,๐ฐ๐ฒ๐ฌ sales were recorded in October โ a ๐ญ๐ฏ.๐ฐ% increase compared to September, marking the highest monthly volume ever. Of these, 94.9% were for apartments, villas, and townhouses, with median prices of:
ย โข Apartments: AED 1,271,374
ย โข Villas: AED 7,298,000
ย โข Townhouses: AED 2,885,000
๐ฃ๐ฟ๐ถ๐ฐ๐ฒ ๐๐ฟ๐ผ๐๐๐ต
The Property Monitor Dynamic Price Index indicates a ๐ญ.๐ณ๐ฏ% monthly increase, bringing the average price per square foot to AED 1,473 โ now 19.4% above the previous market peak in 2014.
๐ข๐ณ๐ณ-๐ฃ๐น๐ฎ๐ป ๐ฆ๐๐ฟ๐ด๐ฒ
2024 has exceeded expectations with 100,000 new residential units from more than 343 projects launched so far. Off-plan transactions remain dominant, underlining the sustained demand for new developments.
๐ ๐ผ๐ฟ๐๐ด๐ฎ๐ด๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐๐ถ๐๐ ๐๐น๐น-๐ง๐ถ๐บ๐ฒ ๐๐ถ๐ด๐ต
With 4,318 registered loans (+๐ฏ.๐ฎ๐ฒ% month-on-month), mortgage activity reached historic levels. The average loan amount stands at AED 1.75 million, with a loan-to-value ratio of ๐ณ๐ฒ.๐ฑ%.
๐ฆ๐๐๐๐ฎ๐ถ๐ป๐ฎ๐ฏ๐น๐ฒ ๐๐ฟ๐ผ๐๐๐ต ๐ข๐๐ฒ๐ฟ ๐ฆ๐ฝ๐ฒ๐ฐ๐๐น๐ฎ๐๐ถ๐ผ๐ป
Unlike previous cycles characterized by speculation, the current market is driven by sustainable growth. Prices have risen steadily at an average of ๐ญ.๐ฎ๐ฐ% per month over the past four years, reflecting long-term stability.
๐๐ผ๐ผ๐ธ๐ถ๐ป๐ด ๐๐ต๐ฒ๐ฎ๐ฑ
With 250 additional projects in the pipeline and 135,000 new units expected by year-end, the market remains dynamic. The key challenge will be ensuring demand keeps pace with supply, supported by population growth and economic activity.
๐ฉ Get in touch for a personalized consultation and discover how to become part of this success story.
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