Property Monitor’s monthly analysis of Dubai’s real estate market shows that September transactions surpassed the previous record of 17,139.
18,038 transactions were reported, a new all-time monthly high, with almost three quarters (73%) for properties under construction having been sold off-plan.
With 17,151 sales, residential transactions accounted for over 95% of the September total, according to Property Monitor.
Top of the off-plan sales charts was Emaar with 2,343 registrations, followed by DAMAC Properties with 1,516 and Sobha with 810, according to the insights.
“September 2024 was yet another ground-breaking month for Dubai’s real estate sector, setting new records in both sales transactions and prices. Our findings underpin the ongoing success and evolution of the property market, which continues to flourish and looks set to end the year on another high, with 30% growth compared to last year. A robust pipeline of new projects and easing mortgage rates continue to drive demand for both off-plan and ready properties.”
Henry Bacha, Chief Executive Officer, Property Monitor
September also set a new record for the highest-priced apartment sale of 2024 – AED 275m for a five-bedroom apartment at The One on Palm Jumeirah.
Sales dominated the figures, with AED 14.14bn ($3.9bn), according to Land Department data. In total, there were 4,475 sales transactions recorded between 14 to 18 October.
Among the top listed sales transactions listed on the Land Department website were an apartment in Six Senses Residences DXB Marina, which sold for AED 101.4m ($27.6m).
