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Published on 10/23/2024

Dubai Real Estate Market Recorded 18,038 Transactions in September 2024

73% Off-plan Properties and 30% Year-On-Year Growth is Observed

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.

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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.