Dubai real estate market recorded 18,038 transactions in September making a record high of all times with 73% off-plan properties. The record shows that transactions in September crossed the previous record of 17,139 in May 2024, reflecting continued growth.
30% YOY growth is expected by year-end. Residential transactions with 17,151 sales were reported, 95% of the total. Emaar ranked at top with 2,343 registrations followed by Damac with 1,516 and Sobha with 810.
The highest apartment sales were observed in the month of September 2024 worth AED275M for a 5-bedroom apartment at Palm Jumeirah while the lowest was reported at AED124,000 at Dubai South for studio.
Increase in property price by 1.14% in September compared to August, at an average of AED1448 sq ft and increase in mortgage activity was seen up by 16.6% month-on-month, registering 4200 in September. The month seemed promising, continuing to drive demand for existing and off-plan property market.