Lettings agency Allsopp & Allsopp has released insights from its latest Dubai Property Market Report, which highlighted that July continued to see a rise in property market sales activity.
Sales volumes have skyrocketed by 46% from last year, totalling 14,774, based on Dubai Land Department data.
Additionally, sales value climbed to over AED 39.2bn, recording a 22% increase year-on-year. Off-plan sales continued to be the leading light, making up 61% of transactions.
The month of July also saw a total of 2,994 units handed over at completion – a 79% rise from the previous year.
An additional 8,984 off-plan units were sold within the same month, representing an impressive 80% increase in sales over July 2023.
Following the success of H1 2024, the off-plan market also saw the top five communities with the highest number of launches.
Among these were Dubai Residence Complex (1,195), Dubai Hills Estate (682), Jumeirah Village Circle (671), Ras Al Khor (533), and Downtown Dubai (453).
Their lettings team followed suit, recording a 43% year-on-year increase in viewings and an 19% rise in transactions in July.
New property listings were also on the uptick with a 23% month-on-month rise.
