Another strong month locks in for Dubai real estate market with property sales I August totalling AED47.3Bn ($12.9bn), 40.8% increase in value compared to August 2023.

16,159 transactions last month represented a 36.9% increase in volume over August 2023 and the average price per sqft rose to 6.1% to AED1,493 ($407).

Luxury apartment in Dorchester Collection in Business Bay was sold the most expensive amounted at AED 139Bn ($37.8M).

In August 2024, land sales showed great increase with sale of 1396 plots, 153.8% month-on-month increase selling at AED15.1bn ($4.1bn). While apartment sales were increased to 37.6% in volume which is 12,268 compared to August 2023. Whereas, villas sales worth AED8bn ($2.2bn) for 2,126 villas which is 4.6% increase compared to August 2023.

369 commercial property transactions at AED674M ($184) which is 19.8% increase in volume compared to August 2023.

Top Areas and Projects in August 2024

Th best selling villa is situated in Amali Island worth AED71M ($19.3) on World Islands.

Top performing area in August is same as July, Jumeirah village Circle with 1378 property transactions amounted to AED 1.4bn ($381m).

The best off-plan project at Marina Views with selling of 425 apartments worth AED1.4bn ($381M).

The top off-plan villas at The Valley successfully transacted 416 units amounted at AED1.3bn ($354M).

71% over 29% off-plan sales were observed compared to ready property while 72% against 28% in value were recorded. While 8% of total sales amounted with properties worth more than AED5M ($1.4) and 29% were seen in AED 1-2M.

The sustained real estate market of Dubai has been an attraction for local and international investors making it a top investment destination.

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