Dubai's real estate market had a record-breaking October with transactions, prices, mortgages and off-plan launches all reaching new highs. October saw:

• 20,460 transactions, a 13% increase from September

• Over 4,300 mortgages secured

• 15,000 new off-plan units launched

• Prices per square foot surged 20% above the previous peak from 2014, reaching AED1,473 ($401)

The market is on track for a 30% year-on-year growth by the end of 2024. With more than 100,000 new units launched across 343 developments, Dubai continues to attract both local and international investors. The median prices for properties were AED1.271 million ($346,000) for apartments, AED2.885 million ($786,000) for townhouses and AED7.298 million ($2 million) for villas.

As the year ends, the market is set to grow further into 2025.