Dubai’s real estate market accelerated further in Q3 2024, with AED 141.9B in total property sales, a 30% increase year-on-year. The surge was driven by robust investor activity, intensified mortgage financing, and a deepening divergence between off-plan launches and resale demand. While new supply remains aggressive, delivery challenges are shaping investor preferences toward ready inventory and track-record developers.
Key Highlights:
- Off-plan transactions climbed 50.3% YoY, but resale volumes also grew 15.9%, signaling a more balanced appetite for immediate occupancy and long-term gains.
- AED 41.7B in mortgage financing was issued in Q3 alone, while volumes rose 38.7% YoY in transactions, highlighting increased leverage, especially among mid- to upper-tier buyers.
- Over 45% of scheduled handovers were delayed, placing a premium on completed units and shifting buyer due diligence toward developer performance.
- Top-performing areas included Jumeirah Village Circle and Business Bay, leading across both apartment and villa transactions.
- Luxury spotlight: One at Palm Jumeirah led with a record AED 275M penthouse sale, reaffirming Dubai’s position among global trophy asset destinations.
By downloading the full report, you’ll uncover:
- Strategic comparisons between off-plan and resale markets across all major districts.
- Buyer profiles, average price points, and loan-to-value behavior segmented by property type.
- Year-on-year and quarter-on-quarter shifts in sales volume and price per sqft.
- Delivery trends, overdue handovers, and which developers met expectations.
- High-value sales activity by location and project including new launches gaining traction.
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