Dubai’s real estate sector recorded sales worth AED 14.66 billion in one week, growing by 40.5% compared to sales transactions in the previous week, which totaled AED 10.43 billion.
The data indicated that total sales transactions last week reached 4,475, including 3,614 residential units, 389 buildings, and 472 plots of land.
The total value of mortgage transactions last week was AED 3.70 billion, compared to AED 1.86 billion the previous week. There were 767 mortgage transactions in total, including 503 residential units, 98 buildings, and 206 plots of land.
The total value of gift transactions last week was AED 1.07 billion, compared to AED 592.20 million the previous week, with a total of 320 gift transactions.
The data showed that Emaar South and Jumeirah Lakes Towers areas continued to attract investors, along with several other areas and real estate complexes in Dubai.
Official data from the Dubai Land Department indicates continuous growth in the market, with real estate sales transactions increasing by 12.2% compared to the second half of 2023.
Data analyzed by the K Estates team reported that investment returns in Dubai real estate remained high, ranging between 4.6% and 9.2% during the first few months of 2024. Additionally, sales prices for residential units (apartments and villas) increased by 5% to 12%.
The indicators show strong demand and increased confidence among buyers and renters. Furthermore, new developments that meet people’s needs and aspirations, investor-friendly policies, and a tax-free environment are key factors supporting continuous investment flow into Dubai, safeguarding the future of the real estate market.
