Dubai April 2024: Market Watch Monthly Performance Report
The market witnessed a 45% YoY increase in recorded sales transactions, reaching 11,607 compared to 7,999 in April 2023.
The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 32 billion, marking a YoY increase of 21.13%.
The Existing property transactions revealed a YoY increase of approximately 6.45% in volume, with 4,404 transactions. The value of these transactions decreased by -2.45% YoY, touching AED 18.1 billion, compared to AED 18.5 billion in April 2023.
The Off-plan showed more demand, with a YoY increase of approximately 86.51% in volume, and 7,203 recorded transactions. Values experienced a surge of around 77% YoY, reaching roughly AED 13.8 billion, compared to AED 7 billion in April 2023.
The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 32 billion, marking a YoY increase of 21.13%.
The Existing property transactions revealed a YoY increase of approximately 6.45% in volume, with 4,404 transactions. The value of these transactions decreased by -2.45% YoY, touching AED 18.1 billion, compared to AED 18.5 billion in April 2023.
The Off-plan showed more demand, with a YoY increase of approximately 86.51% in volume, and 7,203 recorded transactions. Values experienced a surge of around 77% YoY, reaching roughly AED 13.8 billion, compared to AED 7 billion in April 2023.
Market Preference
58% of interested property buyers were searching for an apartment, while 42% sought villas/townhouses.
In contrast, 79% of tenants in the rental market were found to be looking for apartments, while 21% were searching for villas/townhouses. Approximately 36% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 21% for studios. For villas/townhouses, 42% were looking for three-bedroom units, and 37% sought four-bedroom or larger options. As for ownership, 33% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios. Regarding Villas/Townhouses, 41% were primarily looking for three-bedroom units, while 45% were searching for four-bedroom or larger options.
In contrast, 79% of tenants in the rental market were found to be looking for apartments, while 21% were searching for villas/townhouses. Approximately 36% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 21% for studios. For villas/townhouses, 42% were looking for three-bedroom units, and 37% sought four-bedroom or larger options. As for ownership, 33% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios. Regarding Villas/Townhouses, 41% were primarily looking for three-bedroom units, while 45% were searching for four-bedroom or larger options.
