Dubai Real Estate Market Sales Figures for June '24

Welcome to our latest market update! If you are eyeing Dubai’s premium properties, this is your essential data insights

Last month, property sector showcased a remarkable growth and lucrative opportunities. Here’s a closer look at the impressive numbers and trends that define this thriving market.

Dubai’s real estate marketplace witnessed sales transaction value reaching astounding 45.66 billion AED (12.44 billion USD). This marks a substantial 52.3% increase compared to June 2023, highlighting the market’s robust demand and the rising interest from investors worldwide, attracted by the real estate investment return.

Off-Plan Properties

A significant trend was the continuous surge in off-plan property sales, making up 60% of total transactions volume. Notably, recording a 52.4% increase compared to the same time last year. This rise reflects the growing confidence in Dubai's real estate developers and the attractive capital appreciation potential of new projects.

Existing Properties

The secondary market for ready properties experienced its peak around mid of June with an overall volume of 40% of total transactions for the month. This has resulted in 20% increase in volume compared to last year.

Breaking down transactions volume by asset class:

Apartments 61 %

Villas and Townhouses 9 %

Commercial properties 2 %

Land plots 10 %

The real estate market in Dubai offers a myriad of enticing benefits that make it an attractive investment opportunity:

• Freehold property ownership and Zero property tax

• Zero personal income tax or capital gains tax, or withholding tax

• 100% foreign business ownership

• 100% repatriation of capital investment and total profit earned

• 10-year investor Visa

• Investor-friendly policies providing foreign investment protection

• One of the world’s top tourist centers
  

Dubai’s red-hot real estate market is defying predictions of a slowdown, in a sign that the Middle Eastern business hub might be breaking free from its boom-and-bust cycles.

Bloomberg

Final Thoughts

Given the exceptional growth and favorable trajectory since the year's onset, this presents a good chance for investors aiming to leverage the market's vibrant dynamics. Stay tuned for more real estate investment insights and updates as we continue to monitor this landscape in the emirate.

Source: Dubai Land Department