Page 272 - SOBHA REALTY PR REPORT - AUGUST 2024

8/7/24, 10:21 AM Dubai Property Transactions Up 32%; Sales Value Rises By 23%

DUBAI PROPERTY TRANSACTIONS UP 32%; SALES VALUE

RISES BY 23%

Dubai Property Transactions Up 32%; Sales Value Rises By 23%

BY REALTY PLUS
Published - Wednesday, 07 Aug, 2024

Dubai's residential market is on a remarkable upward trajectory, fuelled by the global surge in demand for luxury

real estate post-pandemic. According to the latest data from Square Yards, the Dubai Land Department registered
a staggering 32,109 transactions in the April-June 2024 period, marking a 32% increase compared to the same

period last year. The total sales value reached AED 63 billion, reflecting a robust 23% growth year-on-year.

The growth is not just annual; the market has shown impressive sequential gains from January-March 2024, with

the number of transactions and sales value rising by 17% each. This double-digit growth indicates a sustained

upward momentum in the market.

A notable trend in Dubai's real estate market is the surge in transactions for properties priced between AED 1–2

million, now comprising 33% of total transactions, up from 27% last year. This shift highlights the growing

demand for mid-range properties. Additionally, properties within the 500–1,000 sq.ft. range continue to dominate,

representing 41% of all transactions. This indicates a strong preference for compact yet premium living spaces
among buyers.

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