Dubai March 2024: Market Watch Monthly Performance Report
The market witnessed a YoY increase of 14 % in recorded
sales transactions, over 13,649 compared to 12,014
in March 2023.
The Sales transaction value witnessed a significant surge in
the value of transactions reaching AED 37.3 billion, marking a
YoY increase of 9 %.
The Existing property transactions revealed a YoY increase of
approximately 2 % in volume, with over 5,882 transactions.
The value of these transactions decreased by 3 % YoY,
touching AED 21.1 billion, compared to AED 21.8 billion in
March 2023.
The Off-plan showed more demand, with a YoY increase of
approximately 24 % in volume and 7,767 recorded
transactions. Values experienced a surge of around 31 % YoY,
reaching roughly AED 16 billion, compared to AED 12.3 billion
in March 2023.
sales transactions, over 13,649 compared to 12,014
in March 2023.
The Sales transaction value witnessed a significant surge in
the value of transactions reaching AED 37.3 billion, marking a
YoY increase of 9 %.
The Existing property transactions revealed a YoY increase of
approximately 2 % in volume, with over 5,882 transactions.
The value of these transactions decreased by 3 % YoY,
touching AED 21.1 billion, compared to AED 21.8 billion in
March 2023.
The Off-plan showed more demand, with a YoY increase of
approximately 24 % in volume and 7,767 recorded
transactions. Values experienced a surge of around 31 % YoY,
reaching roughly AED 16 billion, compared to AED 12.3 billion
in March 2023.
Market Preference
58 % of interested property buyers were searching for an apartment, while 42 % seeked villas/townhouses.
In contrast, 81 % of tenants in the rental market were found to be looking for apartments, while 19 % 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, 81 % of tenants in the rental market were found to be looking for apartments, while 19 % 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.
