Dubai September 2024: Market Watch Monthly Performance Report
• The market witnessed a 33% YoY increase in recordedsales transactions, reaching 18,050 compared to 13,557 in September 2023.
• The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 44.6 billion, marking a YoY increase of 18%.
• The Existing property transactions revealed a YoY increase of approximately 12% in volume, with 6,235 transactions. The value of these transactions increased by 2.7% YoY, touching AED 20.2 billion, compared to AED 19.7 billion in September 2023.
• The Off-plan showed more demand, with a YoY increase of approximately 48% in volume, and 11,815 recorded transactions. Values experienced a surge of around 35% YoY, reaching roughly AED 24.3 billion, compared to AED 18 billion in September 2023.
• The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 44.6 billion, marking a YoY increase of 18%.
• The Existing property transactions revealed a YoY increase of approximately 12% in volume, with 6,235 transactions. The value of these transactions increased by 2.7% YoY, touching AED 20.2 billion, compared to AED 19.7 billion in September 2023.
• The Off-plan showed more demand, with a YoY increase of approximately 48% in volume, and 11,815 recorded transactions. Values experienced a surge of around 35% YoY, reaching roughly AED 24.3 billion, compared to AED 18 billion in September 2023.
Key Findings:
• 57% of interested property buyers were searching for an apartment, while 43% sought 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 34% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 22% for studios. For villas/townhouses, 41% were looking for three-bedroom units, and 39% sought four-bedroom or larger options. As forownership, 32% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios.
• Regarding Villas/Townhouses, 39% were primarily looking for three-bedroom units, while 48% 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 34% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 22% for studios. For villas/townhouses, 41% were looking for three-bedroom units, and 39% sought four-bedroom or larger options. As forownership, 32% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios.
• Regarding Villas/Townhouses, 39% were primarily looking for three-bedroom units, while 48% were searching for four-bedroom or larger options.
