Dubai January 2024: Market Watch Monthly Performance Report
∙ The market witnessed a YoY increase of 17 % in recorded
sales transactions, over 11,000 compared to 8,712
in January 2023.
∙ The Sales transaction value witnessed a significant surge in
the value of transactions reaching almost AED 35 billion,
marking a YoY increase of 27 %.
∙ The Existing property transactions revealed a YoY increase of
approximately 8 % in volume, with over 5,000 transactions.
The value of these transactions surged by 31 % YoY, touching
AED 21 billion, compared to AED 15.7 billion in January 2023.
∙ The Off-plan showed more demand, with a YoY increase of
approximately 25 % in volume and 6,000 recorded
transactions. Values experienced a surge of around 21 % YoY,
reaching roughly AED 15 billion, compared to AED 12.2 billion
in January 2023.
sales transactions, over 11,000 compared to 8,712
in January 2023.
∙ The Sales transaction value witnessed a significant surge in
the value of transactions reaching almost AED 35 billion,
marking a YoY increase of 27 %.
∙ The Existing property transactions revealed a YoY increase of
approximately 8 % in volume, with over 5,000 transactions.
The value of these transactions surged by 31 % YoY, touching
AED 21 billion, compared to AED 15.7 billion in January 2023.
∙ The Off-plan showed more demand, with a YoY increase of
approximately 25 % in volume and 6,000 recorded
transactions. Values experienced a surge of around 21 % YoY,
reaching roughly AED 15 billion, compared to AED 12.2 billion
in January 2023.
Market Preference
58 % of interested property buyers were searching for an apartment, while 42 % 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.
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.
