Dubai’s real estate market reached a record high in total sales value for Q3 2024, marking the highest ever for a single quarter. This surpasses the previous record set earlier this year and reflects significant year-on-year growth.
A recent market update reported a substantial increase in total sales transactions compared to the previous quarter and year-over-year.
Apartment sales dominated, making up the majority of all transactions and showing a notable increase in volume from the same period last year. Villa sales also experienced a rise in both volume and value compared to Q3 of the previous year and the previous quarter.
The median price per square foot has continued to rise, reflecting the ongoing appreciation in property values.
Additionally, the sale of plots saw a significant increase in volume, along with commercial real estate sales, which experienced steady growth.
The market’s resilience has been emphasized, with these figures boosting investor confidence and attracting increased interest from both global and regional buyers.
Over the past few years, Q3 property sales have shown steady growth, reflecting the market’s upward trend.
Top-performing areas included popular locations across the city, showcasing the strong demand in key real estate hubs.
The most expensive property sold was a luxury unit in a prestigious area.
In terms of property value, a significant portion of sales fell within specific price ranges, demonstrating a healthy diversity in market offerings.
Sales from developers outpaced resales, both in volume and value.
Source: Propertynews.ae
