Property Sales and Rental Trends Highlight Strong Market Momentum
In February 2024, Dubai’s real estate market saw a surge of over 27%, with 11,900 deals compared to 9,371 in February 2023.
Property Finder noted transaction value at nearly Dh36.6 billion, up 35% from 2023, highlighting market strength.
Two-bedroom apartments were most popular for rentals at 35%, followed by one-bedroom apartments at 33%.
Driven by demand for off-plan properties, January 2024 saw record-breaking sales of Dh35.4 billion, promising a positive outlook for 2024.
Existing property transactions surged by 23%, with over 5,500 transactions recorded, reaching Dh23.5 billion.
Off-plan transactions showed a 31% increas
e in volume compared to the previous year, reaching Dh13 billion.
Property Finder’s Cherif Sleiman highlighted significant increases in transaction volume and value, promising opportunities for investors and home seekers.
The study showed 59% of potential homebuyers interested in apartments and 41% preferring townhouses or villas.
Dubai Marina, Downtown Dubai, and Jumeirah Village Circle were among the most sought-after locations for apartment ownership.
For rentals, Dubai Marina and Jumeirah Village Circle were popular choices.