Dubai June 2024: Market Watch Monthly Performance Report
The market witnessed a 35% YoY increase in recorded sales transactions, reaching 14,218 compared to 10,475 in June 2023.
The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 45.9 billion, marking a YoY increase of 50%.
The Existing property transactions revealed a YoY increase of approximately 19.10% in volume, with 6,253 transactions. The value of these transactions increased by 63.81% YoY, touching AED 29.24 billion, compared to AED 17.85 billion in June 2023.
The Off-plan showed more demand, with a YoY increase of approximately 52.44% in volume, and 7,965 recorded transactions. Values experienced a surge of around 31.8% YoY, reaching roughly AED 16.6 billion, compared to AED 12.6 billion in June 2023.
The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 45.9 billion, marking a YoY increase of 50%.
The Existing property transactions revealed a YoY increase of approximately 19.10% in volume, with 6,253 transactions. The value of these transactions increased by 63.81% YoY, touching AED 29.24 billion, compared to AED 17.85 billion in June 2023.
The Off-plan showed more demand, with a YoY increase of approximately 52.44% in volume, and 7,965 recorded transactions. Values experienced a surge of around 31.8% YoY, reaching roughly AED 16.6 billion, compared to AED 12.6 billion in June 2023.
Market Preference
59% of interested property buyers were searching for an apartment, while 41% sought villas/townhouses. In contrast,
78% of tenants in the rental market were found to be looking for apartments, while 22% were searching for villas/townhouses. Approximately 36% of tenants searched for one-bedroom units, 33% for two-bedroom apartments, and 20% for studios. For villas/townhouses, 43% were looking for three-bedroom units, and 37% sought four-bedroom or larger options. As for ownership, 33% were seeking one-bedroom units, 35% searched for two-bedroom apartments, and 14% for studios. Regarding Villas/Townhouses, 40% were primarily looking for three-bedroom units, while 45% were searching for four-bedroom or larger options.
78% of tenants in the rental market were found to be looking for apartments, while 22% were searching for villas/townhouses. Approximately 36% of tenants searched for one-bedroom units, 33% for two-bedroom apartments, and 20% for studios. For villas/townhouses, 43% were looking for three-bedroom units, and 37% sought four-bedroom or larger options. As for ownership, 33% were seeking one-bedroom units, 35% searched for two-bedroom apartments, and 14% for studios. Regarding Villas/Townhouses, 40% were primarily looking for three-bedroom units, while 45% were searching for four-bedroom or larger options.
