top of page

Dubai Real Estate Market Sales performance-October '24

Writer: Narcis MarianNarcis Marian

The October edition of our monthly report provides a detailed analysis of key trends and metrics of the real estate sales performance, that shaped the market demand during this period, offering valuable insights for property investors.


Dubai real estate market continued its impressive growth trajectory in October 2024, setting up new records in transactions.


Another Record-Breaking month of sales volume


Dubai sales transactions volume Oct 24

Almost 21 thousand sales transactions were recorded last month, representing an 18% increase from the prior month and 71% rise compared to last year. This was by far the highest volume month this year.


Record-Breaking Sales values as well


Dubai sales transactions value Oct 24

61.49 billion AED (or 16.75 billion USD) in total sales value representing a 41% increase in value compared to last month and 56% higher than last year.


Market Trends



Dubai Off-plan property sales transactions value Oct 24

Fueled by ongoing new project releases by property developers, we witnessed a 14% rise in total sales transaction value with off-plan properties, compared to the previous month, resulting in a 34% surge from the same period last year.

Developers reported strong pre-sales figures, particularly for projects in emerging areas such as Palm Jebel Ali, Dubai South and Mohammed Bin Rashid City. The off-plan segment’s resilience highlights investor confidence in Dubai’s long-term growth prospects.



Dubai Ready property sales transactions value Oct 24

Sales value for ready properties, saw a 23% increase from previous month and an 8% increase compared to same month last year.


We recently published our research on key considerations for buying off-plan vs ready properties in Dubai.


Jumeirah Village Circle (JVC) and Business Bay were the top choices for investors, with a notable increase in sales volume in these areas.


Dubai Hills Estate and Dubai South were also among the top preferred areas for last month.


The percentage share of overall transactions volume by asset class* for October was as follows:

Apartment building

Apartments 77 %



villas and townhouse

Villas and Townhouses 19 %



Dubai buildings on a main road

Commercial properties 2 %



land with palm trees

Land plots 3 %



For foreign investors, Dubai remains a compelling destination offering a blend of benefits, such as:


  • Freehold property ownership and Zero property tax

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

  • lowest corporate income tax rate of 9%

  • 100% foreign business ownership

  • 100% repatriation of capital investment and total profit earned

  • 10-year investor Golden Visa

  • Investor-friendly policies providing foreign investment protection

  • One of the world’s top tourist centers


Following the announcement in the beginning of October, about The Dubai Real Estate Sector Strategy 2033 His Excellency Engineer Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, emphasized that the strategy is solidifying Dubai’s role as a regional and global leader in real estate.

Investing in Dubai extends beyond property acquisition; it offers a high-quality lifestyle, further enhancing market appeal and attracting long-term investment.


Key Performance Indicators (KPI's) included in the strategy:

  • doubling the real estate sector’s contribution to Dubai’s GDP to approximately 73 Billion AED

  • increasing home ownership rates to 33%

  • growing real estate transactions by 70%

  • raising the market value to 1 Trillion AED

  • expanding the value of Dubai’s real estate portfolios 20 times to 20 Billion AED

Gov of Dubai, Dubai Media Office


Conclusion

Looking ahead, the Dubai real estate market sales performance is poised for continued growth and very much exceeding last year performance. The sustained economic growth and ongoing projects will likely support the market’s upward trajectory.


Staying informed about market trends and leveraging professional advice will be key to making strategic investment decisions in this dynamic market.



Source: Dubai Land Department; DXB Interact, Dubai Media Office

Comentários


DIFC - Gate Avenue,

Zone D, Level 1, PO Box 507211

Dubai, United Arab Emirates

+971 58 548 1062

info@co-own.ae

  • White LinkedIn Icon
  • Twitter
  • White Facebook Icon
  • Instagram
  • Threads
  • Xing
  • Pinterest
  • Telegram

IMPORTANT NOTICE!

General Disclaimer: Co-Own Real Tech Ltd is not yet authorized or regulated by the Dubai Financial Services Authority (“DFSA”) or ADGM's Financial Services Regulatory Authority ("FSRA") and does not provide any financial advice or financial service. All copyright and intellectual property belong to their respective owners. This website (“www.co-own.ae”) is for general and informational purposes only.

Professional Investors Only: The content of this website is directed exclusively to eligible counter-parties and professional clients who are categorized as: investment professionals, certified high net worth individuals, companies owned by high net worth individuals, sophisticated investors, self certified sophisticated investors and is not directed to retail clients (each as defined in the rule book of the DFSA or FSRA. If you are a retail investor then please do not read this website or take any action based upon it.

Legal Restrictions: This website is not directed to any person in any jurisdiction where (by reason of that person’s nationality, residence or otherwise) the publication or availability of this website is prohibited. Persons in respect of whom such prohibitions apply, must not read this website or take any action based upon it.

 

No Offer: Nothing contained herein constitutes an invitation or offer to buy or sell any investment or to enter into any agreement and Co-Own Real Tech Ltd is not soliciting any action based upon the content of this website. Nothing contained herein is intended to provide a basis on which to make an investment decision or constitutes a personal recommendation or takes into account the particular investment objectives, financial situations or needs of any particular person.

 

Past Performance and Risk Warning: Past performance is not indicative of future results; no representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided. All investments, including real estate, are speculative in nature and involve a substantial risk of loss.

© 2025 by Co-Own Real Tech LTD Read Privacy Policy and Terms of Service

bottom of page