Dubai February 2024: Market Watch Monthly Performance Report
The market witnessed a YoY increase of %27 in recorded
sales transactions, over 11,912 compared to 9,371 in February
2023.
The Sales transaction value witnessed a significant surge in
the value of transactions reaching AED 36.65 billion, marking a
YoY increase of %35.
The Existing property transactions revealed a YoY increase of
approximately %23 in volume, with 5,527 transactions. The
value of these transactions surged by %46 YoY, touching AED
23.5 billion, compared to AED 16.1 billion in February 2023.
The Off-plan showed more demand, with a YoY increase of
approximately %31 in volume, and 6,385 recorded
transactions. Values experienced a surge of around %19 YoY,
reaching roughly AED 13billion, compared to AED 11 billion in
February 2023.
sales transactions, over 11,912 compared to 9,371 in February
2023.
The Sales transaction value witnessed a significant surge in
the value of transactions reaching AED 36.65 billion, marking a
YoY increase of %35.
The Existing property transactions revealed a YoY increase of
approximately %23 in volume, with 5,527 transactions. The
value of these transactions surged by %46 YoY, touching AED
23.5 billion, compared to AED 16.1 billion in February 2023.
The Off-plan showed more demand, with a YoY increase of
approximately %31 in volume, and 6,385 recorded
transactions. Values experienced a surge of around %19 YoY,
reaching roughly AED 13billion, compared to AED 11 billion in
February 2023.
Market Preference
%59 of interested property buyers were searching for an apartment, while %41 seeked villas/townhouses. In contrast,
%80 of tenants in the rental market were found to be looking for apartments, while %20 were searching for villas/townhouses.
Approximately 36 % tenants searched for one bedroom units, 31 % for two-bedroom apartments and 22 % for studios.For villas/townhouses, 43 % tenants were looking for three-bedroom units, 34 % seeked 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, 40 % were primarily looking for three-bedroom units, while 44 % were searching for
four-bedroom or larger options.
%80 of tenants in the rental market were found to be looking for apartments, while %20 were searching for villas/townhouses.
Approximately 36 % tenants searched for one bedroom units, 31 % for two-bedroom apartments and 22 % for studios.For villas/townhouses, 43 % tenants were looking for three-bedroom units, 34 % seeked 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, 40 % were primarily looking for three-bedroom units, while 44 % were searching for
four-bedroom or larger options.
