Page 109 - SOBHA REALTY PR REPORT - OCTOBER 2024

Overall, positive gains were noted in monthly capital values of Dubai homes, though with slight
softening compared to the previous month. Ready sales saw double digit growth, while off-plan
registrations reached a record triple digit annual increase.

Villa monthly capital gains were at 2.3 per cent, and 33.1 per cent since last year. Notably, top
annual performers include villas in highly sought-after areas like Palm Jumeirah (42.8 per cent),
Jumeirah Islands (42.3 per cent), Dubai Hills Estate (35.3 per cent), and Emirates Hills (33.8 per
cent). The lowest capital gains were observed in Jumeirah Village Triangle (20 per cent) and Mudon
(20.4 per cent), the latter stable month-on-month.

Apartment prices rose by 1.9 per cent monthly, maintaining record annual growth of 24.8 per cent.
Among the areas with the highest apartment capital gains compared to last year were Discovery
Gardens (33.5 per cent), The Greens (33 per cent), Palm Jumeirah (30.9 per cent), and Al Quoz
Fourth (30 per cent). Least capital value gains were found in Jumeirah Beach Residence (17.6 per
cent) and Dubai Sports City (17.8 per cent).

Oqood (contract) registrations for off-plan homes grew 9.1 per cent monthly and a record 254.2 per
cent annually, representing almost three-quarters of all home sales this month. The volume of
ready secondary-home transactions also grew by 10.9 per cent monthly and 19 per cent annually.

There were 16 transactions for ready properties priced over AED 30 million, situated in Palm
Jumeirah, Emirates Hills, Jumeirah Bay Island, Dubai Hills Estate, and District One.

Top Developers and Locations

September 2024 saw Emaar (18.8 per cent), Damac (14.7 per cent), Sobha (7.4 per cent), Azizi (5
per cent), and Binghatti (2.9 per cent) led the developer sales charts overall. Top off-plan locations
transacted included projects in Jumeirah Village Circle (8.5 per cent), Damac Hills 2 (8 per cent), Bu
Kadra (6.9 per cent), and Dubai Hills Estate (6.2 per cent). Meanwhile, most ready homes sold were
located in Jumeirah Village Circle (12.2 per cent), Business Bay (5.2 per cent), Dubai Marina (5.2 per
cent), and International City (3.4 per cent). This month, Jumeirah Village Circle also broke its
individual record with the highest number of ready homes traded in one month.

https://www.khaleejtimes.com/business/realty/dubai-apartment-prices-rise-almost-a-quarter-
over-the-past-12-months