Dubai Real Estate Transactions as Reported on the 17th of October 2024

The Dubai real estate market saw a robust day of activity on 17th October 2024, with total transactions amounting to AED 2.25 billion. The market was fueled by a dynamic mix of off-plan and ready properties, each contributing significantly to the overall total. Below, we take a closer look at how these transactions broke down and the role of sub-categories within each segment.

Total Transaction Value Breakdown

• Total Value: AED 2,245,355,199

• Off-Plan Properties Contribution: AED 966.6 million (43.1% of total transactions)

• Ready Properties Contribution: AED 1.28 billion (56.9% of total transactions)

Off-Plan Property Transactions

Off-plan properties showed a notable contribution to the day’s total, accounting for approximately 43.1% of the transactions. This segment remains attractive to buyers seeking customized options and extended payment plans.

• Flats: AED 786.5 million, representing 81.4% of the total off-plan transactions.

• Villas: AED 152.8 million, accounting for 15.8%.

• Hotel Apartments & Rooms: AED 15.4 million, making up 1.6%.

• Commercial Units: AED 12.0 million, contributing 1.2%.

The dominance of off-plan flats indicates a sustained demand for residential properties that offer buyers the flexibility of modern urban living.

Ready Property Transactions

Ready properties, often preferred by investors and buyers looking for immediate occupancy, contributed a larger share of the day's transactions, accounting for 56.9% of the total value.

• Flats: AED 500 million, representing 39.1% of the total ready transactions.

• Villas: AED 114.8 million, comprising 9.0%.

• Hotel Apartments & Rooms: AED 584.7 million, accounting for 45.7%.

• Commercial Units: AED 79.2 million, making up 6.2%.

The standout in this segment was the substantial value of hotel apartments and rooms, which suggests high investor confidence in Dubai's thriving hospitality and tourism sector.

Insights and Market Trends

The data shows a well-balanced market with a healthy blend of both off-plan and ready properties. Ready properties are leading in terms of transaction value, driven particularly by the hotel apartments and rooms segment, which reflects Dubai's position as a global tourism hub. Meanwhile, off-plan properties continue to attract buyers with their appealing payment plans and potential for capital appreciation.

The breakdown highlights how flats, both in off-plan and ready segments, dominate the residential market, underscoring their popularity among local and foreign investors. Villas also show steady demand, particularly within the off-plan sector, as buyers seek more spacious and customizable living spaces.