In October 2024, the real estate market Dubai for the first time in history overcame the mark of 20,000 transactions, which indicates its incessant impulse and growing trust of investors. According to Property Monitor, published by Property Monitor, 20,460 sales operations were registered, which is 13 percent more than in September. This showed that high demand for both residential and commercial real estate actively contributes to prices and increase in lease activity.
Zhann Jochinke, the chief operating director of Property Monitor, noted that after the record of September, the real estate sector Dubai again set a new maximum. Especially noteworthy is the fact that a significant part of the transactions came to objects that were unscheduled or not relevant to the usual market expectations, which indicates extraordinary interest from investors. This confirms confidence in the prospects of further market growth.
A decrease in interest rates, an increase in the volume of new construction projects and a growing number of people who prefer to acquire real estate instead of rent, play an important role in maintaining dynamics. Given all these factors, the Dubai real estate market does not show signs of slowdown, but, on the contrary, is preparing for further development, accepting more and more new investors and buyers.
In recent years, Dubai has experienced the rapid growth of the population, which largely explains the demand for real estate in this dynamic city. The postpandemic period has become especially favorable for its development: every year more than 100,000 new inhabitants arrive in Dubai, which creates a sustainable demand that exceeds the proposal. The Property Monitor report for October emphasizes that 73 percent of all transactions this month concerned non -planned or insufficient real estate objects, while almost 95 percent of the transactions fell into the housing sector, which indicates a high demand for housing on the market.
The most expensive transactions made in October were the villa in Jumeirah Bay sold for a record 175 million dirhams, and Villa in Eome for Palm Jumire, the price of which reached 170.5 million dirhams. These transactions demonstrate not only a growing interest in elite real estate, but also emphasize the attractiveness of Dubai as an investment direction.
Among the leading developers that contributed to this growth, one can distinguish the company EMAAR Properties, which continues to hold the position of the leader, as well as Damac and Sobha, occupying second and third places in the number of sales in the segment of non -planned real estate. These results indicate a steady market growth and its ability to attract the attention of both local and international investors.
