Dubai October 2024: Market Watch Monthly Performance Report
• The market witnessed a 70% YoY increase in recorded sales transactions, reaching 20,456 compared to 12,053 in October 2023.
• The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 61.2 billion, marking a YoY increase of 55%.
• The Existing property transactions revealed a YoY increase of approximately 28% in volume, with 7,145 transactions.
• The value of these transactions increased by 32% YoY, touching AED 33.8 billion, compared to AED 25.7 billion in October 2023.
• The Off-plan showed more demand, with a YoY increase of approximately 106% in volume, and 13,311 recorded transactions. Values experienced a surge of around 99% YoY, reaching roughly AED 27.3 billion, compared to AED 13.7 billion in October 2023.
• The Sales transaction value witnessed a significant surge in the value of transactions reaching AED 61.2 billion, marking a YoY increase of 55%.
• The Existing property transactions revealed a YoY increase of approximately 28% in volume, with 7,145 transactions.
• The value of these transactions increased by 32% YoY, touching AED 33.8 billion, compared to AED 25.7 billion in October 2023.
• The Off-plan showed more demand, with a YoY increase of approximately 106% in volume, and 13,311 recorded transactions. Values experienced a surge of around 99% YoY, reaching roughly AED 27.3 billion, compared to AED 13.7 billion in October 2023.
Key Findings:
• 58% of interested property buyers were searching for an apartment, while 42% sought 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 35% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 23% for studios.
• For villas/townhouses, 41% were looking for three-bedroom units, and 38% sought four-bedroom or larger options. As for ownership, 32% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios.
• Regarding Villas/Townhouses, 38% were primarily looking for three-bedroom units, while 49% were searching for four-bedroom or larger options.
• 81% of tenants in the rental market were found to be looking for apartments, while 19% were searching for villas/townhouses.
• Approximately 35% of tenants searched for one-bedroom units, 32% for two-bedroom apartments, and 23% for studios.
• For villas/townhouses, 41% were looking for three-bedroom units, and 38% sought four-bedroom or larger options. As for ownership, 32% were seeking one-bedroom units, 36% searched for two-bedroom apartments, and 14% for studios.
• Regarding Villas/Townhouses, 38% were primarily looking for three-bedroom units, while 49% were searching for four-bedroom or larger options.
