Even the real estate market of Dubai saw 20% increase in property transaction and 17% appreciation in market volume as compared to previous year. Possibilities of market value may reach AED 300 billion by the end of this year.
The recent data released by CBRE, the number of residential transactions in Dubai for May surged to 15,766, and the highest monthly figure on record to date, up 44.2% over the previous year.
First five months of transaction sales value soared to 62,180, thus registering a marked increase of 384.3% from the 2019 comparable figure, while outperforming the 2023 record-high by 30.0%
Dubai Residential Sales Breakdown in May 2024
| Price Range (AED/ sq.ft) | Percentage of Total Sales |
|---|---|
| Below AED 1,000 | 19.3% |
| AED 1,000 - AED 2,000 | 64.1% |
| AED 2,000 - AED 3,000 | 154% |
| AED 3,000 - AED 8,000 | -19.5% |
Key Highlights:
Total Transactions: 36,448
Total Market Value: AED 108.2 billion
Year-on-Year Increase in Transactions: 20%
Year-on-Year Increase in Market Volume: 17%
Summary
Experts believe that this is the right time to invest in Dubai and this current situation is giving confidence to investors to march forward. Additionally, Dubai’s government investment friendly policies and expanding real estate developments will open up more opportunities before you.
